Business division of “Kingdom of Bhutan” explores cryptocurrency projects

newspaper revealed Financial Times On May 20, 2023, Ann Business Department of the Royal Bhutan Government DHI (Druk Holding & Investments) is very interested in crypto asset projects and institutions.

Also read: “BNB Chain” issues a warning list about high-risk decentralized projects and applications

Where a journalist explains Financial TimesFTthat DHI Business Division He was testing mining-related investments Bitcoin BTC and drone technology, the article states that the CEO of the Business Department of the Royal Bhutan Government, Ujwal Deep Dahal Ujjwal Deep Dahalhe informed the newspaper that Bhutan is focusing on the new generation of industries.

On the other hand, the article also sheds light on the current cooperation with a company Bitdeer to mine publicly traded Bitcoin, which was announced in early May.

Where the CEO noted, that the partnership with Bitdeer To launch a data center for mining carbon-neutral digital assets represents an investment in a more connected and sustainable local economy, helping to ensure we stay on the cutting edge of global innovation.

In turn, the Chairman of the Board of Directors said Bitdeer and former CEO of the company Bitmain, Jihan Wu:

“We are pleased to unite with the business department of the Royal Bhutan Government, to harness Bhutan’s zero-emission energy, and enable Bhutan technologies. blockchain sustainably, which will eventually serve as the unalterable foundation of a global store of value.”

Business division of the Kingdom of Bhutan explores cryptocurrency projects

Worth noting, that Bitdeer AndDHI Business Division Basically, they aim to present a closed-end fund with an estimated value of up to $ 500 million, as the announcement specified that the fund’s fund-raising goals would begin by late May.

The two parties also intend to establish a 100 MW bitcoin mining facility in Bhutan, tap into the abundant resources in Asia, and contribute to a thriving regional ecosystem.

Although the winter of 2022 was harsh for Bitcoin miners, Dahal He saw the mining sector as less risky, the CEO revealed For DHI Business Division:

“We are very much sticking to the mining sector, which seems to be the least risky.”

Also Read: Probet Global Continues to Empower Emerging Crypto Ventures

mention that Business Division of the Royal Government of Bhutan (DHI). He had managed $3 billion in assets, overseeing government businesses, and those investments included international real estate, global equities and start-ups.

The Royal Business Department believes that Bitcoin mining and other technologies embody Bhutan’s future investment strategy.

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