Bhutan

✓

Bitcoin Countries

Bhutan operates a government-run Bitcoin mining operation through Druk Holdings and Investments — the sovereign wealth fund of the Kingdom of Bhutan. Using abundant hydroelectric power from its Himalayan rivers, Bhutan mined Bitcoin since at least 2019, accumulating over 13,000 BTC at peak. In 2026, Bhutan began systematically selling its Bitcoin holdings, liquidating over $110 million worth to fund the Gelephu Mindfulness City special economic zone, with holdings falling to approximately 4,453 BTC by March 2026 — down 65% from peak.

Details

Status: state_mining
Notable: Druk Holdings hydroelectric mining
Mining Legal: Yes
Notable Policy: Bhutan has quietly mined Bitcoin using hydroelectric power since ~2019; one of world earliest sovereign BTC miners per capita; actively selling BTC in 2026 to fund Gelephu Mindfulness City infrastructure
Bitcoin Holdings: ~4,453 BTC (Druk Holding & Investments; down from 13,295 BTC peak; sold ~$110M+ in 2026; as of March 2026)
Bitcoin Holdings Date: 2026-03

Links

twitter

More Bitcoin Countries

El Salvador

El Salvador made history on June 9, 2021, as the first country to adopt Bitcoin as legal tender under President Nayib Bukele. The government continues to buy approximately 1 BTC per day, with its national treasury holding approximately 7,565 BTC as of February 2026. El Salvador built the state-sponsored Chivo wallet, launched volcanic geothermal Bitcoin mining operations, and proposed Bitcoin City — a special economic zone powered by a volcano. In 2025, El Salvador reached an IMF agreement that modified Bitcoin's legal tender status while maintaining its Bitcoin treasury strategy.

Switzerland

Switzerland is one of the most Bitcoin-friendly countries in the world, with the canton of Zug (dubbed "Crypto Valley") accepting Bitcoin for government services since 2016. Several Swiss cantons accept Bitcoin for tax payments, the country has clear digital asset property rights, and Switzerland is home to dozens of major Bitcoin and blockchain companies. Swiss banks like SEBA and Sygnum Bank offer institutional Bitcoin services, and the Swiss National Bank has explored digital asset frameworks.

United Arab Emirates

The United Arab Emirates has positioned itself as a global hub for Bitcoin and crypto businesses, with dedicated regulatory regimes in Dubai (Virtual Assets Regulatory Authority — VARA) and Abu Dhabi (ADGM). Abu Dhabi holds Bitcoin through the Phoenix Group, a publicly listed Bitcoin mining company. Major crypto exchanges including Binance have received licenses to operate in the UAE. The country's zero income tax, strategic location, and regulatory clarity have attracted significant Bitcoin institutional and mining infrastructure.