Gate News message, April 11: After the Kingdom of Bhutan sold 70% of its Bitcoin holdings, it may have already stopped or slowed down its Bitcoin mining activities, contrasting with the approach of sovereign states such as El Salvador that are accumulating cryptocurrencies (El Salvador’s current Bitcoin holdings are already over 7618 BTC). It’s reported that, under economic pressure, Bhutan’s hydropower is currently used more for selling electricity to neighboring India than for Bitcoin mining. In addition, falling Bitcoin prices, rising network difficulty, and halving-related pressure are all squeezing mining profit margins. As of now, Druk Holding and Investments, the sovereign wealth fund that manages the Kingdom of Bhutan’s Bitcoin assets, has not yet issued any public comments regarding the status of fund transfers or mining operations.
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