The Prime Minister of the Bhutani pushes a global embrace of bitcoin mining

While Bhutan is fighting the migration of youth and economic pressure, its Prime Minister says that bitcoin mining provides a way forward, and others should follow.

It seems that Bhutan, the Buddhist kingdom on the eastern edge of the Himalayas known for its monasteries, puts a strong bet on bitcoin (BTC) As a possible way to alleviate its economic problems, despite the famous risks associated with the fluctuations in the encrypted currency.

in interview With Al -Jazeera, Prime Minister Cherring Tobay Peticoin, backed by the state, described a “simple strategic choice that many people have made and got billions of dollars,” adding that “governments should do so [crypto mining]”

Bhutan faces many economic issues, including high youth unemployment and an increasing number of skilled workers who leave the country. In 2022, the report immigrated more than 10 % of the educated population. Some believe that Bitcoin helps reduce this trend because the government has sold $ 100 million of cryptocurrency to raise the salaries of civil employees in 2024.

The exact volume of BTC property in Bhutan is still unclear, although data from different Blockchain analysis companies means that it may exceed $ 600 million, or about 30 % of the country’s gross domestic product.

Bitcoin mining requires large amounts of energy, although Bhutan may be an exception because it contains a lot of hydroelectric energy and cold temperatures. “It is important for Batun to take advantage of the green energy that we have in terms of bitcoin mining as part of our investment portfolio,” said Ujwal Deep Dahal, President of the sovereign sovereign company Druk Holdings.