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In the Himalayas, one of the most important mining centers for bitcoin will be erected in highland region.

DEMIURGE

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The data center will be built in Bhutan for carbon-free bitcoin mining, the 100 MW data center will be build in Bhutan for carbon-free bitcoin mining.


Bitdeer mining company is trying to build 100 MW power plant in Bhutan for carbon-free cryptocurrency trading.


The investment arm of Bhutan and the mining company Bitdeer Technologies plan to find investors for $500 million in an investment fund that will develop green cryptocurrency mining in the "Himalayan kingdom" with a goal of creating a $500 million fund to develop green cryptocurrency mining in the Himalayan kingdom.


The fundraising will begin at the end of May. Fundraising will begin at the end of May. They said that the purpose of the fund is to launch an hydroelectric bitcoin mining center that will be carbon-free, and it was also possible to create one. The two companies have indicated this in a joint filing with US Securities and Exchange Commission (SEC). According to the document, Bitdeer expects to create a 100 MW power plant in Bhutan, its construction will begin in the second quarter and be completed in July-September.


In February, the construction of a mining enterprise of a similar capacity in Buryatia was announced by the Russian BitRiver. As Oleg Ogienko, director of the company for interaction with government agencies, told RBC-Crypto, Bhutan uses competitive advantages in mining due to inexpensive, affordable and green energy resources and flexible legislation for the benefit of the development of the national economy, a similar approach and “progressive legislation” can give Russia "a peculiar head start" in achieving world leadership in the field of cryptocurrency mining.


Mining will be the least risky way for Bhutan to exploit the power of cryptocurrencies and for now the country will focus only on bitcoin, Ujwal Deep Dahal, head of the investment arm of local firm Druk Holding & Investments, told Bloomberg. According to him, Druk began mining cryptocurrencies as part of an experiment when bitcoin was still worth about $5,000.


The Kingdom of Bhutan is located between China and India and is home to about 800,000 people. The local economy is largely dependent on revenue from hydropower. Druk manages public investments in traditional areas such as equities, bonds, technology, energy and real estate, as well as cryptocurrency mining and investments, as part of a strategy the company calls "future-oriented."


Registered in Singapore, Bitdeer is owned by Chinese entrepreneur Jihan Wu and is one of the leading players in the cryptocurrency mining market in terms of total power. Previously, Wu served on the board of directors of leading mining equipment manufacturer Bitmain and owned the BTC.com mining pool until February 2021.


In April, Bitdeer went public on the NASDAQ through a SPAC deal and trades under the ticker symbol BTDR. The company owns one of the largest cryptocurrency mining centers in Texas. In the United States, rising electricity prices led to the bankruptcy of several major players in the cryptocurrency mining industry, and the presidential administration on May 2 again raised the issue of taxing miners at a rate of 30%.
 
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