Bhutan a small nation to bet on Crypto for Funding's.

[Flexystar]

In an astoundingly positive news today, small nation with only 800,000 total population is planning on using crypto currencies and calling for investors to fund their national projects. Bhutan is more or less well being centric country with no agenda for the economic growth. Obviously this is based on their strategic geo location which is mostly in the hills and mountains.

However, recently same geo location is about to change the face of their economic growth. They have multiple sites throughout their country where Hydropower set ups can be done easily.

Bhutan is willing to partner with BitDeer to set up 100 mega watt mining data center. That is definitely lot of investment in such small country and it will help Bhutan to bring institutional investors into their country for sure.

Druk Holding & Investment is state owned commercial company which looks after investment, digital projects, and basically money matters within the country. DHI chief is all set to bring up the nation on next level of Digitalization and thus Bhutan can soon see economic growth as well.

It is wonderful that various nations are opting for the Crypto Side of the world when it come down to the economic growth and funding sources. 

Bhutan is investing in everything from bitcoin mining to drone technology as the Himalayan kingdom turns to new-age businesses in search of fast growth and returns.

Druk Holding & Investments, the state-owned commercial holding company, will start pitching to investors this month to raise up to $500mn for a crypto mining business after partnering with Singaporean group Bitdeer, one of the world’s largest bitcoin miners.

Bhutan’s bet on crypto, which follows that of other countries such as El Salvador and the Central African Republic, comes despite the sell-offs, contagion and scandals that have rocked the sector. The isolated country of 800,000 only allowed television and internet in 1999 and is known for its gross national happiness metric, which prioritises wellbeing over economic growth.

Bhutan turns to crypto in search of fast growth
Himalayan kingdom teams up with Singapore’s Bitdeer as it seeks to raise cash to mine digital currency

Due to copyright, I am only adding reference link. You can read the detailed news on the linked article.

[stompix]

Bhutan is willing to partner with BitDeer to set up 100 mega watt mining data center. That is definitely lot of investment in such small country and it will help Bhutan to bring institutional investors into their country for sure.

And when we finally have some nice thing happen there must be some writer for some newspaper exaggerating everything.

The whole thing is pretty easy:
- Bhutan has enough free energy that goes to waste since it can't export it
- Bitdeer comes in, sets up a datacenter, and brings in a few thousand machines that will run 24/7 and suck that energy but now paying for it
- Bhutan gets cash for what it has previously thrown away and Bitdeer gets profits from mining with cheap energy

But! This doesn't mean a single other thing.
Why would an investor come to Bhutan just because there is a data center there?
Why are there no institutional investors rushing to Salvador when we had the same hype about it?
https://twitter.com/nayibbukele/status/1402714926800674827

Why can't we have news, just news without sensationalism?

[YUriy1991]

Bhutan is willing to partner with BitDeer to set up 100 mega watt mining data center. That is definitely lot of investment in such small country and it will help Bhutan to bring institutional investors into their country for sure.

And when we finally have some nice thing happen there must be some writer for some newspaper exaggerating everything.

The whole thing is pretty easy:
- Bhutan has enough free energy that goes to waste since it can't export it
- Bitdeer comes in, sets up a datacenter, and brings in a few thousand machines that will run 24/7 and suck that energy but now paying for it
- Bhutan gets cash for what it has previously thrown away and Bitdeer gets profits from mining with cheap energy

But! This doesn't mean a single other thing.
Why would an investor come to Bhutan just because there is a data center there?
Why are there no institutional investors rushing to Salvador when we had the same hype about it?
https://twitter.com/nayibbukele/status/1402714926800674827

Why can't we have news, just news without sensationalism?

It seems that there are differences in the response of investors in this industry regarding initiatives when viewed from Bhutan and El Salvador, for example in terms of regulations, if in El Salvador there has been real recognition and incentives for crypto investors, maybe in Bhutan it is still gray. On the other hand, the population numbers of the two countries also do not have the same scale and lastly, perhaps, in terms of reporting, this is still lacking, thus affecting the interest of institutional investors. This is just my opinion, if it's not correct, please correct it.

[Flexystar]

Bhutan is willing to partner with BitDeer to set up 100 mega watt mining data center. That is definitely lot of investment in such small country and it will help Bhutan to bring institutional investors into their country for sure.

And when we finally have some nice thing happen there must be some writer for some newspaper exaggerating everything.

The whole thing is pretty easy:
- Bhutan has enough free energy that goes to waste since it can't export it
- Bitdeer comes in, sets up a datacenter, and brings in a few thousand machines that will run 24/7 and suck that energy but now paying for it
- Bhutan gets cash for what it has previously thrown away and Bitdeer gets profits from mining with cheap energy

But! This doesn't mean a single other thing.
Why would an investor come to Bhutan just because there is a data center there?
Why are there no institutional investors rushing to Salvador when we had the same hype about it?
https://twitter.com/nayibbukele/status/1402714926800674827

Why can't we have news, just news without sensationalism?

Yeah, after seeing that Tweet and reading the 3-4 messages in it, everything started to look dark. 
Well at least we can say that, we will have more mining power, Bhutan will get nice electricity pay checks, few hundreds labors working around hydro power, engineers may be and some of them enrolling in data center.

We can put it this way, Bhutan will at least start consuming it's natural resources, lit up some more ideas (may be), sharing electricity to nearby locations and get paid for it.

The possibilities are endless but well, they will need management team who will actually think in that way.

Why institutional investors would come and visit the Bhutan, that Idk really but let us say there may be more mining hubs from other manufacturers.

Why can't we have news, just news without sensationalism?

If not, then that won't excite us in an argument or discussion. lol. 

[Litzki1990]

As far as we know about Bhutan Bhutan is a very small country in terms of size and population. Bhutan has a total population of 770,400. Considering its population, we can consider this country as a small population country. The economic condition of this country is also not that good but they may have decided to adopt Bitcoin to improve the economic condition of their country. If Bhutan accepts Bitcoin, Bhutan will become the second country in the world to accept Bitcoin in their country. 

El Salvador is the first country in the world to declare Bitcoin as a currency alongside its currency. Bhutan is a small country in Asian continent which has India, Pakistan, Bangladesh, Nepal, China etc. as neighboring countries.  Neighboring countries will undoubtedly discuss such a decision of Bhutan.

[SamReomo]

Bhutan is a small country in Asian continent which has India, Pakistan, Bangladesh, Nepal, China etc. as neighboring countries.  Neighboring countries will undoubtedly discuss such a decision of Bhutan.

Wrong information my friend, Bhutan doesn't share borders with Nepal, Bangladesh, and Pakistan. It only shares northern border with China and its southern boarder with India. However, it's located in Asia and in that way the all countries share same continent.

Bhutan is not an economically stable country because it's a small country and the main population in the country is Buddhist or the followers of Buddhism. They mostly devote their time in meditation, many great monks of the religion have been born in Bhutan.

The resources in the country aren't economic friendly and the people live their lives with less wages as compare to other countries. The minimum wage in Bhutan is 3,750 Bhutanese ngultrum that equals to around $45.28 USD as of today's rates. Their main source of income is comes through Hydroelectric Power, and now they are trying to utilize it for the mining purposes.

I read a news article few days ago in which Bhutan shared their hidden mining operations with media in order to gain investors attention. They claimed in that article that they have been secretly mining Bitcoin for many years from the times when the value of 1 Bitcoin was around $5k.

I believe that Bhutan can be a good place for the mining farms. Its environment and temperature is quite suitable for mining operations. The investors who are interested in Bitcoin mining could get good returns if they invest in that country.

The best thing is that in future the country might adds Bitcoin as a legal tender and might allow it to exist as secondary currency alongside it own currency Bhutanese ngultrum like El Salvador. If that happens then I think soon other countries might realize the potential of Bitcoin.

[bittraffic]

^ When I saw the images of their kingdom, I actually picture in my mind that the people in the country are all monks. But it couldn't be true after all they desire to be financially rich in Bitcoin.

There were threads here about their invites to investors in their country where they offer hydropower to mine Bitcoin. I think it was about funding the hydropower plant they were planning to build and I guess Druk Holding & Investment answers their call. Amazing how it could work out in small countries like El Salvador and Bhutan.

[TimeTeller]

^ When I saw the images of their kingdom, I actually picture in my mind that the people in the country are all monks. But it couldn't be true after all they desire to be financially rich in Bitcoin.

There were threads here about their invites to investors in their country where they offer hydropower to mine Bitcoin. I think it was about funding the hydropower plant they were planning to build and I guess Druk Holding & Investment answers their call. Amazing how it could work out in small countries like El Salvador and Bhutan.

They want to develop their economy and they want to deploy crypto in their financial system.
Since this has small population, it is quite easy to implement what they want.
It has been stated that this country has been secretly mining bitcoin for years.
Now, they want the world knows what they are up to. If it is good for their economy, why not?
More tourists? Maybe. If they change their approach on how to accept tourists in their country.
Or can they attain to be the "biggest bitcoin miner per capita in the world?"

[avikz]

This is a very positive news. Bhutan was a carbon neutral country once but with this initiative they are probably going to loose that status. But given the weather condition there, it can become an ideal place for crypto mining. So it's a good first step for the country like Bhutan to start their journey in the technology sector.

The only thing they need to resist is the Chinese influence. It's a neighbouring country of India and since a long time India stood strong by them. I had a good fortune to travel there during my school life with my parents. But right now, Chinese government is trying to influence them just like Pakistan. If they really want to stay Happy, that's what they need to resist for good.

[tabas]

It's a good and green country and if there have been invitation to come to them and have those mining and data centers to be established, there are probably some decent and inevitable offers that would be taken by those companies.

^ When I saw the images of their kingdom, I actually picture in my mind that the people in the country are all monks. But it couldn't be true after all they desire to be financially rich in Bitcoin.

I have been amused by this country. It's like a low key and developing country but tourists aren't that much welcomed because of how high the entrance fee they're asking and this is based on some travel vloggers that I've watched. And with that, they could waive those fees and give incentives for those companies that will adhere to their close call.

[stompix]

It seems that there are differences in the response of investors in this industry regarding initiatives when viewed from Bhutan and El Salvador, for example in terms of regulations, if in El Salvador there has been real recognition and incentives for crypto investors, maybe in Bhutan it is still gray.

No, the differences are the other way around
- Salvado has the law but when it comes to actual energy is all a lie
- Bhutan has no favorable laws but it still managed to attract a mining fam cause it has cheap energy for real
But for other kinds of investors, it's for both a flat line!

Yeah, after seeing that Tweet and reading the 3-4 messages in it, everything started to look dark. 

I got used to Bukele promises, he's a populist and nothing else, as soon as Bitcoin ended a bear season he reduced his interest in it by 90%.
Remember his dip buys?

Bhutan is a small country in Asian continent which has India, Pakistan, Bangladesh, Nepal, China etc. as neighboring countries.

Japan, Australia, Bolivia, etc