The authorities of the Kingdom of Bhutan are seeking $500 million in investment to launch an environmentally friendly bitcoin mining project. It is scheduled to be released jointly with Bitdeer Technologies. The construction of the mining center will be completed in September.
The investment arm of the Kingdom of Bhutan and Bitter Technologies are looking for investors to build a green bitcoin mining center in Bhutan. The creators of the project estimated the investment required to launch the project at $500 million.
Fundraising for the construction of the center is scheduled to begin in May, with actual construction to begin in the second quarter of this year. The project contemplates the construction of a mining center with a capacity of 100 MW using hydroelectric power for mining.
For now, Bhutan wants to focus exclusively on bitcoin mining. Local companies started mining the first cryptocurrency when the bitcoin rate was at the $5,000 level.
The Kingdom of Bhutan is located in South Asia, between India and China. According to the last census, 758 thousand people live in the state.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
