2 - 4 minute read
Bitdeer Technologies Group and Druk Holding and Investments (DHI) have formed a partnership to create eco-friendly and carbon-free digital asset mining operations in Bhutan. The Nasdaq-listed mining company and Bhutan’s sovereign investment arm will launch a closed-end fund with an approximate value of $500 million. The partnership aims to attract investments from around the world to utilize Bhutan’s zero-emission energy to support blockchain technologies. The fund will create employment opportunities in various fields and stimulate economic growth while generating revenue in foreign currency for the local community and the country.
Jihan Wu, Bitdeer’s chairman, expressed excitement about collaborating with DHI. He believes that the partnership will establish an unchangeable foundation for a universal store of value. Ujjwal Deep Dahal, the CEO of DHI, also expressed enthusiasm, saying that the partnership with Bitdeer is a step towards a more sustainable domestic economy.
The Kingdom of Bhutan has been quietly investing millions in cryptocurrencies through its sovereign investment arm DHI. The funds were discovered in the Celsius and BlockFi bankruptcy process. It was also discovered that the Himalayan kingdom has been mining Bitcoin using hydropower since April 2019 when BTC price was around $5,000.
The partnership between Bitdeer and DHI is a significant step towards a sustainable and eco-friendly digital asset mining industry. By utilizing Bhutan’s zero-emission energy, the partnership aims to create a closed-end fund that will help establish a universal store of value. The fund will provide a platform to develop international stakeholder networks that will contribute to Bhutan’s tech sector.
Traders should keep an eye on the development of the closed-end fund and the progress of the partnership between Bitdeer and DHI. The partnership could create opportunities for investors to invest in a sustainable and eco-friendly digital asset mining industry. The partnership could also stimulate economic growth and generate revenue in foreign currency for the local community and the country.
The Bottom Line
Bitdeer Technologies Group and Druk Holding and Investments (DHI) have partnered to create eco-friendly and carbon-free digital asset mining operations in Bhutan. The partnership aims to attract investments from around the world to utilize Bhutan’s zero-emission energy to support blockchain technologies. Traders should keep an eye on the development of the closed-end fund and the progress of the partnership between Bitdeer and DHI. The partnership could create opportunities for investors to invest in a sustainable and eco-friendly digital asset mining industry.
