In a groundbreaking disclosure, Forbes exposed Bhutan’s covert Bitcoin mining facilities, challenging the nation’s reputation for seclusion and environmental preservation. Utilizing advanced satellite imagery and insider information, the investigation uncovered four hidden crypto-mining sites.
Forbes employed satellite imagery from Planet Labs, Satellite Vu, and Google Earth, unveiling rectangular mining units and advanced data center cooling systems in Bhutan’s dense forests. Power lines and transformers connected these clandestine facilities to Bhutan’s hydroelectric plants.
Strategically placed near Dochula Pass, Trongsa, Dagana, and the failed “Education City” project, these facilities emerged around 2020. Earth-moving and building activities hinted at their covert construction. Bhutan’s normally surplus hydropower sales to India took a turn, with the government spending $20.7 million on electricity in 2023, possibly tied to these crypto-mining operations.
Crypto Mining: Bhutan’s Controversial Economic Solution
King Jigme Khesar Namgyel Wangchuk has expressed interest in employing digital currencies as an economic shield for Bhutan. The Monarch sees cryptocurrency as an avenue of employment creation while dealing with the financial problems made worse by the COVID-19 pandemic.
Moreover, it is worth noting that though the initiative is good in its essence, there are doubts. This undermines Bhutan’s eco-friendly image, and the mystery around such projects casts doubts on the country’s energy policy and geopolitical issues. The untraditional strategy could be profitable, but it is highly complicated regarding ethics and ecology.
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