The agreement between DHI and Jihan Wu-led Bitdeer should increase the mining capacity of the state-owned corporation sixfold through new computing equipment. The transaction amount is not disclosed.
The investment will increase the power of the kingdom's Bitcoin farms from the existing 500 MW to 600 MW by 2025. The funds will be taken from a $500 million fund created in the spring of 2023, when plans were announced to use excess electricity produced by Bhutan’s hydroelectric dams to mine the first cryptocurrency.
Representatives of Druk Holding and Bitdeer believe that the efficiency of the equipment will remain even if the price of Bitcoin falls after the halving. Representatives of Bitdeer assure that the company’s equipment has one of the lowest costs of bitcoin mining in the world – approximately $20,000 per 1 BTC.
Previously, satellite images from Planet Labs, Satellite Vu and Google Earth revealed the location of four state-owned enterprises for cryptocurrency mining in the Kingdom of Bhutan.
Source: Bits
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