Bhutanese authorities persist in the sale of bitcoins, according to Arkham Intelligence., 2026/02/14 11:50:34

Analysts from the blockchain analytics platform Arkham Intelligence have reported that the government of Bhutan has been selling bitcoins for the third consecutive week. The latest sale of 100 BTC generated nearly $6.8 million.

Arkham noted that the ongoing transactions are part of a larger liquidation of reserves that began in the fall of last year: since September, authorities have liquidated crypto assets worth over $100 million. Meanwhile, approximately 5,600 BTC, valued at around $372 million, remains stored in identified government wallets.

Experts indicate that the primary source of bitcoin accumulation for the kingdom has been cryptocurrency mining. At its peak, the country’s reserves exceeded 13,000 BTC. The production of the leading cryptocurrency surged at the beginning of 2023; however, following the fourth Bitcoin halving, it significantly declined—the block reward dropped from 6.25 BTC to 3.125 BTC in April 2024.

The mining infrastructure developed in collaboration with Bitdeer. Initially, it was anticipated that its capacity would reach 600 MW. In August 2023, the Gedu data center, established by Chinese entrepreneur Jihan Wu, was put into operation. However, achieving the planned hash rate of 20 EH/s has proven to be considerably delayed, as noted by Arkham.

Previously, Bhutanese authorities disclosed that they are utilizing 10,000 bitcoins from their reserves to enhance the economic potential of the town of Gelephu. The objective is to curb youth emigration by creating high-paying job opportunities.