Bhutan, a South Asian kingdom nested in the Himalayan mountains, has recently revealed a secret that stunned the international financial market: the country has been quietly mining crypto for years without telling a soul – including its own citizens.
An even more stunning revelation was that the country has been able to mine crypto in a sustainable way compared to more commonly used methods which have been widely criticised for the large amounts of electricity required.
Bhutan has been able to mine for tokens using its massive stores of hydroelectricity – a renewable source of energy that can be largely considered to be “green”.
Bhutan has an abundance of hydroelectricity – a form of renewable energy that uses the power of moving water to generate electricity – thanks to the ancient glaciers feeding the many rivers flowing through the country.
Energy generated by hydroelectricity is currently fuelling the homes of most of the country’s 777,000-strong population, and it represents 30 per cent of the country’s gross domestic product (GDP).