Although one of the negative aspects facing Bitcoin mining is precisely the excessive energy expenditure, thanks to hydroelectric power countries like Bhutan are boosting Bitcoin mining, the first thing to note is that this country located in the Himalayan mountains is supplied almost entirely by renewable energy.
Bhutan, a Buddhist kingdom on the eastern edge of the Himalayas uses mainly hydroelectric power, hence, thanks to this cheap energy from water, Bhutan has been able to conduct mining in a sustainable and economically very profitable way.
It has been reported that this country started mining Bitcoin when its value was about $5,000, and the most extraordinary thing is that the very state that constitutes the political power in Bhutan is the one who manages Bitcoin mining.
According to the news portal "Xataka", this country nestled in the Himalayan mountains is another example of mining experience similar to that shown by several African countries, with the difference that it has been the state who has bet decisively on the infrastructure.
It has also been pointed out that the government of Bhutan is still a mystery, as neither the amount nor the location of these crypto mining farms has been confirmed, but nevertheless, it has been emphasized that Bitcoin mining is being done with the long term in mind, and at all times "prioritizing consumption and local industries".
On the other hand, and as explained in Forbes magazine, Bhutan is negotiating with the company Bitdeer, from Singapore and one of the largest crypto mining companies, to at least secure access to 100 MW of power, being able to reach up to 550 MW.
I would like to know your appreciation on the experience of hydropower provides mining opportunities in the Himalayan mountains.
SOURCES CONSULTED
Xataka Bhutan's big secret: they've been mining Bitcoin silently in the Himalayas for years. Link
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The cover image was designed by the author: @lupafilotaxia, incorporating image: Xataka
