Bhutan's Royal Government moved about 434.86 to 434.87 BTC, valued at roughly $27.93 million to $27.96 million, to Binance on Aug. 7 after a month of inactivity, extending a broader pattern of sovereign-linked outflows flagged by Lookonchain and previously tracked through Arkham-labeled addresses. The transfer was smaller than July's 700 BTC movement and followed reported sales of 533 BTC in mid-June, 738 BTC in early June, two May batches of 100 BTC and 90 BTC, and a March disposal worth about $45 million. The sales are part of Bhutan's continuing use of Bitcoin reserves built through hydropower mining to help finance Gelephu Mindfulness City, a more than 2,600-square-kilometer special administrative economic zone announced at the end of 2025 and aimed at green technology, digital finance and sustainable urban living. Bhutan's crypto treasury, managed through Druk Holding and Investments, once held more than 13,000 BTC in October 2024 and is now estimated at between 3,000 and 4,000 BTC, underscoring that the country is drawing on a finite reserve rather than visibly rebuilding it.