recently according to forbes reportsDHL, the commercial arm of the Royal Government of Bhutan, entered the bitcoin mining industry by buying BTC when it was worth $5,000.
Druk Holding & Investments (DHI), which previously did not disclose its early involvement in bitcoin mining, has been revealed by DHL CEO Ujjwal Deep Dahal.
Dahl explained that the company is particularly focused on the mining of digital assets, with an emphasis on B T cwithin Bhutan.
CEO Ujjwal Deep Dahal Reveals Bhutan Exposure to Bitcoin
Bhutanese, during an interview with Dahal revealed That DHI focused its mining activities on safe and high profile crypto assets such as BTC and ETH.
With bitcoin as its primary target, DHI began mining when BTC was valued at $5,000.
Dahl confirmed that the BlockFi and Celsius loans were used for the investment and have been repaid in full. Remarkably, DHI is not at a loss in digital asset investment due to a number of factors.
First, the use of green energy in Bhutan lowers mining costs compared to other countries.
This advantage has helped DHI outperform US miners, who face higher electricity costs.
DHI’s mining operations are powered by Bhutan’s hydroelectric projects, which generate clean, cheap energy. High mountains provide natural air replacement, reducing the carbon footprint of DHI.
Financially cautious, DHI avoids lending or making deposits with crypto firms, fearing it from bankrupting the industry.
DHI strictly employs Know Your Customer protocols and reputable exchanges.
DHI covers expenses by selling BTC for electricity and mining equipment. It is also holding some BTC, which it expects to increase the price of the post-2024 event.
By combining eco-friendliness and financial foresight, DHI has become a significant crypto-mining contender.
DHI Secure Strategic Partnership
DHI specifically joined forces With Bitdeer Technologies Group to scale up its digital asset mining operations.
In this strategic partnership, DHI will act as the Limited Partner, while BitDear will act as the General Partner.
Shares of both partners are currently traded on the NASDAQ.
Crypto mining tech firm Bitdeer is collaborating with DHI to promote carbon-neutral, sustainable digital asset mining in Bhutan.
The partnership, announced on May 3, plans to set up a $500 million closed-end fund.
The companies will begin fundraising efforts at the end of the month, targeting international investors.
Leveraging Bitdeer’s expertise, the fund aims to promote DHI’s mining, investment and blockchain initiatives.