The only government investment company in Bhutan, Druk Holding and Investments (DHI), has confirmed that it has been mining Bitcoin for several years as part of a diversified investment portfolio. The company became interested in Bitcoin when its value was around $5,000.
DHI has stated that it has overcome the risks associated with cryptocurrency since it does not directly buy or sell digital assets. The costs of mining are covered by selling the produced Bitcoin to meet the company’s needs.
The company has stated that Bitcoin mining is part of its diversified investment strategy and not due to the fear of missing out on this industry. DHI has also acquired a team of experts in digital currencies and benefits from the advantages of trading digital currencies globally.
The mining process is operated by Bhutan’s renewable electricity, which is hydro-based. It is worth mentioning that the country produces almost 100% renewable electricity, making it ideal for Bitcoin mining.
Bitcoin mining aims to boost economic growth in Bhutan, where technology is a key element. DHI’s investment portfolio includes investments in various assets, including global stocks, fixed income, venture capital investments in promising startups, local and international real estate, renewable energy including hydro production, health, sports, biotech, agriculture, mining, digital assets investment, and mining.