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Bhutan aims for $500-million crypto fund for mining in Himalayan ranges

Bhutan is in negotiations with the Nasdaq-listed company Bitdeer Technologies Group to seek investors for funds amounting to $500 million, which will help it develop green crypto mining in the Himalayas. The fund raising is expected to begin towards the end of May and the goal is to set up mining that is free of carbon, thus tapping into Bhutan’s abundant hydroelectric power, according to a statement released on Wednesday. Ujjwal Deep Dahal believes that mining is the least risky way for Bhutan to seek crypto opportunities and for now, the nation will focus on Bitcoin. This partnership would increase Bitdeer’s mining capacity.

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