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Bhutan Moves $11 Million in Bitcoin from Official Wallet

Bhutan Moves $11 Million in Bitcoin from Official Wallet

According to Arkham, Bhutan transferred 175 BTC from its main government wallet as the country continues using hydropower-mined Bitcoin sales to support public spending and manage post-halving mining economics.

BTC

Fact Check
The transfer of 175 BTC by the Royal Government of Bhutan is well-documented by on-chain data and multiple news reports. The transaction occurred on March 9, 2026, and involved wallets identified by Arkham Intelligence as belonging to Druk Holding & Investments (DHI). The value of $11.85 million matches the market price of Bitcoin at the time of the reports.
Summary

Arkham reported that Bhutan moved 175 BTC, worth about $11.85 million, from its main government wallet to an address created roughly a month earlier that had already received 184 BTC from state accounts. No sale has been confirmed, but Arkham said the transfer matches Bhutan’s established pattern of selling Bitcoin in $5 million to $10 million batches, including a February transfer that preceded a $7 million sale to QCP Capital. Bhutan’s Bitcoin strategy is based on state-backed hydropower mining that began in 2019 rather than exchange purchases. The country is estimated to have produced roughly 13,000 BTC over several years and now holds about 5,400 BTC, with Druk Holding and Investments managing the portfolio. The article says proceeds from past Bitcoin sales have funded healthcare, environmental programs, and government worker salaries, while more frequent sales have followed the April 2024 halving, which reduced block rewards to 3.125 BTC.

Terms & Concepts
  • Bitcoin: A decentralized digital asset secured by blockchain technology that can be transferred on-chain and held by governments, institutions, or individuals.
  • halving: A scheduled Bitcoin network event that cuts mining rewards in half, reducing the number of new coins issued per block.
  • Druk Holding and Investments: Bhutan’s sovereign wealth fund, which manages the country’s digital asset portfolio including Bitcoin and other crypto holdings.