THIMPHU — The tiny Himalayan kingdom of Bhutan, known for its Gross National Happiness development indicator, is embarking on a cryptocurrency mining project as it aspires to build a 21st-century economy.
The country has teamed up with Nasdaq-listed Bitdeer Technologies Group, based in Singapore, to develop a 600 megawatt mining farm for Bitcoin, the leading cryptocurrency. Bitdeer was due to establish a closed-end fund at the end of May, aimed at raising $500 million from international investors for the project. A high-level source close to the project confirmed that the fundraising drive indeed began as planned.
