Bhutan Flexes Hydropower For Bitcoin Mining, Explores Sale Of ‘Green’ Coins
Bhutan is contemplating the use of its hydropower resources for Bitcoin (CRYPTO: BTC) mining to stimulate its economy without compromising its environmental goals.
What Happened: In an interview with Reuters on Tuesday, Ujjwal Deep Dahal, CEO of Bhutan’s sovereign wealth fund, Druk Holding and Investments Ltd., revealed the Himalayan nation’s intentions for green cryptocurrency mining, referring to coins produced using clean and renewable energy sources.
Dahal said that each digital coin mined in Bhutan using hydropower effectively “offsets” a coin mined using fossil fuels.
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Since 2019, the sovereign wealth fund, which controls Bhutan’s only power generation …
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