Bhutan Plans a $500 Million Fund for Crypto Mining in the Himalayas
- Kingdom’s investment arm is tying up with Bitdeer Technologies
- Partnership will seek investors for the fund later this month
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Bhutan’s investment arm and Nasdaq-listed company Bitdeer Technologies Group plan to seek investors for a fund worth up to $500 million that will be used to develop green crypto mining in the Himalayan kingdom.
Fund raising targeting institutional investors will begin at the end of May and the goal is to set up carbon-free digital mining that taps Bhutan’s abundant hydroelectric power, according to a joint statement Wednesday.