Bhutan Continues Bitcoin Sell-Off as Mining Plan Slows Down

BlockBeats News, February 13th, according to Arkham data, the Bhutanese government sent 100 BTC to QCP Capital yesterday, worth $6.77 million. Over the past three weeks, the Bhutanese government has been selling Bitcoin every week. Bhutan sold at least $100 million worth of Bitcoin in September last year and is still gradually selling off. Currently, Bhutan holds $372 million worth of Bitcoin in confirmed wallets.

In addition, Bhutan's mining operation was originally planned to collaborate with Bitdeer Technologies to produce up to 600MW of Bitcoin mining power, but on-chain data shows that their mining rate has slowed since the halving in April 2024.