Bitdeer Technologies, a leading digital asset mining service provider, has unveiled its ambitious plan to pioneer “green crypto mining” in Bhutan. The company aims to leverage the country’s abundant hydroelectric power to establish a carbon-free mining operation in the Himalayan region. This innovative initiative is a testament to Bitdeer’s commitment to sustainability and responsible mining practices. The company is poised to revolutionize the crypto mining industry and set a new standard for eco-friendly operations by harnessing renewable energy sources.
Bitdeer Technologies made a noteworthy announcement on Wednesday, stating that they will reach out to their investors to secure funding for their latest project. The company seeks $500 million to establish a green crypto-mining project in Bhutan. This initiative is a significant step towards sustainable and eco-friendly mining practices, and Bitdeer Technologies is committed to making it a reality. The company’s professional approach to securing funding for this project is a testament to its dedication to innovation and progress in the crypto-mining industry.
As per the report, the esteemed organization is set to embark on a groundbreaking venture in Bhutan, with plans to erect a 100-megawatt project. The construction of this ambitious project is slated to commence in the second quarter of 2023, with the final touches expected to be completed between July and September.
According to Ujjwal Deep Dahal, the CEO of Druk Holding & Investments, mining presents a highly viable avenue for unlocking the full potential of the crypto industry. In his words, “Mining offers many opportunities for maximizing returns in this dynamic sector.”
It’s important for us to look to look at assets that are low volume, high value, or digital assets of that matter, and try to position ourselves in a way that we can be competitive globally over time to build our economy.
Bitdeer Technologies‘ CEO, Matt Linghui Kong, has announced that both Bitdeer and Druk will contribute to the estimated fund for the new project. Additionally, Dahal has stated that the nation’s primary focus will be mining the top cryptocurrency, Bitcoin.
The country has been diligently exploring alternative avenues to reduce its dependence on hydropower revenues and diversify its economy. Druk has been actively pursuing traditional investment areas such as stocks, real estate, and technology for years while embracing the forward-thinking crypto mining approach. This strategy has been recognized as a promising step towards securing a prosperous future for the nation.
