Bhutan Government Moves $835K in Bitcoin to New Wallets, On-Chain Data Shows

Bhutan’s royal government has transferred 10.779 Bitcoin ($BTC), valued at approximately $835,000, to two newly created wallet addresses, according to blockchain tracking platform Onchain Lens. The transaction was detected on-chain, but the specific purpose or destination of the funds has not been publicly disclosed.

Context: Bhutan’s Growing Crypto Holdings

The transfer comes amid growing international attention on Bhutan’s cryptocurrency activities. Unlike many nations that acquire Bitcoin through seizures or purchases, Bhutan’s $BTC holdings are largely the result of state-sponsored mining operations, primarily powered by the country’s abundant hydroelectric energy. The Royal Government of Bhutan, through its investment arm Druk Holding and Investments (DHI), has been involved in Bitcoin mining since at least 2021, with mining facilities often co-located with major hydropower projects.

Publicly available data suggests Bhutan’s total Bitcoin reserves are estimated at over 13,000 $BTC, placing it among the largest government holders of the cryptocurrency worldwide. The latest movement of 10.779 $BTC is relatively small in comparison, but it highlights the ongoing management and active use of these digital assets by the government.