Bhutan bets big on Bitcoin hoping for an economic miracle

Nestled behind a hillside south of Thimphu, the capital of Bhutan, lies a secret crypto kingdom. 

Right here, dozens of transport containers conceal a multi-million greenback operation: machines working tirelessly to mine Bitcoin.  Below the reign of Jigme Khesar Namgyel Wangchuck, the “Dragon King,” Bhutan has discreetly remodeled right into a crypto Shangri-La, dedicating land, funding, and vitality to those operations, reported Forbes. 

Though Bhutan’s authorities has been tight-lipped concerning the actual areas and scale of those services, the bankruptcies of crypto lenders BlockFi and Celsius led to the nation’s vital portfolio being uncovered, forcing the federal government to acknowledge the existence of its portfolio.