Bhutan, which is one of the largest Bitcoin-holding nations in the world, just transferred 175 Bitcoins from its primary holding address, as crypto markets made modest gains on Sunday.
Arkham’s blockchain analytics platform shows the South Asian nation moved BTC in the amount of $11.85 Million to an address that was created one month prior, and which previously had 184 Bitcoins received from the Government.
As of Tuesday, the 175 Bitcoins are still there. according Blockchain data. The previous transfer was sent to an address that has been changed. received A total of 1 910 Bitcoins since 2024. Currently, the 126.
Arkham Asylum posted an update on its X-post Monday. said the last time Bhutan moved a similar amount of Bitcoin — in February — it was to sell $7 million of Bitcoin with QCP Capital. The kingdom is a made several sales This is the year.
“Bhutan periodically sells portions of its Bitcoin in clips of $5-10M, with a particularly heavy period of selling around mid-late September 2025,” Arkham Asylum
Arkham calculates that Bhutanese holdings were estimated to be at a record high as of today. around The United States holds 5,400 Bitcoins, which makes it the 7th largest country in terms of holdings. United States has The largest nation-held cryptocurrency with 328.372 Bitcoins, valued at just over $22 billion on Tuesday.
Bhutan holds a variety of other crypto-currencies in various amounts. These are all managed by Druk Holding and Investments (the country’s sovereign fund), including 28 Ether.ETHKiboShib is an AI-generated coin.
Cointelegraph contacted Druk Holding and Investments to get a comment but did not receive a response immediately.
Bhutan is using Bitcoins to pay for its services
Bhutan is estimated to have accumulated 13,000 Bitcoins since the launch of state-backed mine operations in 2019. These are mainly powered by hydroelectricity. according Arkham is a great game.
As costs increased, however, after 2024 the mining sector became less effective.
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Bhutanese Prime Minister Tshering Tobgay told Al Jazeera reported in April last year that the Kingdom’s hydropower stations generate excess energy during summer due to an increased flow of water. The excess power can be used to generate electricity. energy for Bitcoin mining.
Tobgay spoke with Al Jazeera about the interview in March 2025. noted Bhutan has used the proceeds of its Bitcoin to finance healthcare initiatives, environmental projects and salaries for public employees.
Bitcoin mining has become increasingly popular. redirected their energy resources toward artificial intelligence High-performance computing and mining services have increased since April 2024, when the halving reduced rewards from 3.125 Bitcoin to just 3,125 Bitcoin. This has negatively affected overall profitability.
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Source: cointelegraph.com
