The post Bhutan’s Prime Minister Wants the World to Mine Bitcoin appeared on BitcoinEthereumNews.com.

Bhutan is exploring deepening its foothold in Bitcoin mining, according to PM Tobgay. Other nations are also designing proactive policies to support the embrace of crypto. Bhutanese Prime Minister Tshering Tobgay recently urged nations worldwide to embrace Bitcoin (BTC) mining. The Prime Minister believes Bitcoin mining offers a path forward as Bhutan struggles with growing economic pain and youth migration. Bhutan Going Big on Bitcoin In an interview with Al Jazeera, Tobgay said state-backed Bitcoin mining is “a simple strategic choice.”  He explained that many individuals have grown their wealth from crypto, so Tobgay calls the government to try Bitcoin mining. This transition could propel Bhutan into a leading role globally in embracing financial innovation. The country is currently facing economic challenges, and Bitcoin mining is among the steps it is taking to recover from the crisis. Bhutan, once an attractive tourist location, is struggling to draw people back to visit since a setback during the COVID-19 pandemic.  Tourism contributes over 10% of the country’s Gross Domestic Product (GDP). In 2023, tourism brought in $334 million, according to Bhutan’s Central Bank. By 2024, only about 150,000 tourists visited the country, Bhutan’s Prime Minister revealed. The declining revenue from tourism has further increased the country’s economic woes. In addition, youth unemployment is high, causing a growing number of skilled workers to leave the country. Over 10% of the educated population emigrated from the country in 2022. However, Bitcoin is helping reduce the brain drain trend. In 2023, the government reportedly sold $100 million worth of cryptocurrency to raise civil servant salaries. As highlighted in our previous article, Bhutan holds over $1 billion worth of Bitcoin in its crypto reserve. Since 2019, Bhutan has used environmentally friendly hydroelectric resources to mine Bitcoin via Druk Holding and Investments (DHI), the national investment company.…

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Filed under: News - @ April 16, 2025 12:23 am