The Kingdom of Bhutan, a landlocked small sovereign state in South Asia, holds more Bitcoin than El Salvador, and the massive treasury didn't come from seizures or purchases, but from mining the world's top digital asset.

Bhutan’s growing Bitcoin empire revealed, with over $780 million in BTC acquired through extensive mining operations powered by the nation’s renewable energy resources.

Arkham has revealed that Bhutan owns nearly $800 million in Bitcoin through its fully-owned subsidiary, Druk Holdings.

Bhutan, nestled in the Himalayas, considers its fewer than 900,000 citizens’ happiness a better measure of the country's well-being than money. It is the second nation after El Salvador to officially hold BTC, in this case as part of the state-owned Druk Holdings fund.

Bhutan quietly became the fourth-largest government to hold BTC. The recently identified wallet contains more than 13K BTC, accrued over a few years of mining.

Recent findings by blockchain analytics firm Arkham Intelligence showed that the Kingdom of Bhutan ranks fourth globally in terms of government holdings of Bitcoin.

Arkham revealed that Bhutan holds twice as much Bitcoin as El Salvador, becoming the 4th largest Bitcoin holder among countries.

Blockchain intelligence firm Arkham revealed on September 16, 2024, that Bhutan's bitcoin holdings have reached $750 million. This represents approximately 27.9% of Bhutan's estimated 2023 Gross Domestic Product of $2.