Bitdeer Teams up With Druk Holding and Investments To Establish Bitcoin Mining Venture in Bhutan

Bitdeer Technologies Group and Druk Holding and Investments have joined forces to create a Bitcoin and digital asset mining venture in the Kingdom of Bhutan that will operate entirely on renewable energy. 

This collaboration aims to advance Bhutan's digital transformation and economic growth, as well as broaden Bitdeer's worldwide presence. In May 2023, the two companies will establish a closed-end fund valued up to $500 million, with Bitdeer serving as the general partner and DHI as a strategic limited partner.

The collaboration between the two firms is anticipated to generate employment opportunities for the local community in various fields such as engineering, project management, supervision, and support roles.

Simultaneously, the collaboration is anticipated to stimulate economic growth and generate foreign-currency-based income for the local communities and the nation.

Jihan Wu, Chairman of Bitdeer, expressed enthusiasm for partnering with DHI to leverage Bhutan's zero-emission energy sources for the sustainable advancement of mining technologies that will eventually establish a secure foundation for a universal store of value.

Ujjwal Deep Dahal, CEO of Druk Holding and Investments, expressed his delight in collaborating with Bitdeer on this venture, stating, "DHI exists for the betterment of the lives of Bhutanese people today and for generations to follow."

Bitdeer currently manages data centers in Northern Europe and North America while the upcoming carbon-neutral Bitcoin mining facility in Bhutan will be a pivotal move into the Asian market. This expansion will allow Bitdeer to leverage the ample resources available in Asia, adding value to the growing regional ecosystem.