In an attempt to lessen the effects of the impending cryptocurrency halving event, Bhutan plans to greatly increase its Bitcoin mining operations in association with Bitdeer Technologies Group. By adding cutting-edge gear and boosting capacity by six times to reach 600 megawatts by the first half of 2025, Druk Holding & Investments, the investment arm of Bhutan, and Bitdeer, a company listed on the Nasdaq, intend to improve the country's mining capabilities. Utilizing Bhutan's abundant hydroelectric power resources, this expansion—funded by a $500 million fund—promises operational efficiency even in the event that Bitcoin prices decline after the halving.
Because miners will receive less money from the halving event, which is predicted to reduce mining payouts from 6.25 to 3.125 Bitcoins each block, there will be difficulties. However, Bitdeer and Bhutan are ready, relying on their capacity to keep operating expenses low. Bhutan's strategic investment in cutting-edge mining technology not only aims to fortify its economy against fluctuations but also marks a significant step towards embracing blockchain as a cornerstone for innovation and economic diversification. This comes amid a year-long 140% rally in Bitcoin and rising computing costs due to increased mining difficulty.
