- Bhutan has sold over $233M in Bitcoin in 2026, cutting holdings to 3,774 BTC to fund national development projects.
- A 250 BTC transfer adds to a 70% drop from 13,000 BTC in 2024, as sales support Gelephu Mindfulness City plans.
- With mining slowing after the 2024 halving, Bhutan is liquidating reserves, turning low-cost BTC into cash for infrastructure.
The Royal Government of Bhutan has moved another 250 BTC, worth about $18 million, to a new wallet. This adds to the growing trend of Bitcoin outflows from the country, which has seen a significant decrease in its holdings this year. Bhutan now holds roughly 3,774 BTC, valued at around $272.5 million.
As per the data from Arkham, the Kingdom of Bhutan has moved a total amount of $233.75 million of Bitcoin from its wallets so far this year. In the month of October 2024, the highest ownership of Bhutan in Bitcoin was around 13,000 BTC. However, there is a decline of more than 70% since then.
Why is Bhutan Selling Bitcoin?
The country’s Bitcoin is handled by the state-owned investment agency known as the Druk Holding and Investments (DHI). Recently, the authorities began the process of disposing of some of their Bitcoin stock to finance initiatives such as the Gelephu Mindfulness City (GMC).
In December 2025, Bhutan set aside up to 10,000 BTC—valued at about $1 billion at the time—for the project. The recent transfers appear to be part of a broader effort to convert those digital assets into cash for infrastructure development.
At the same time, the government is adjusting its overall financial strategy. Bhutan mines Bitcoin using surplus hydropower, which keeps production costs low. As a result, most of the proceeds from these sales are effectively profit.
Mining Activity and the Future of Bhutan’s BTC Holdings
Mining activity in Bhutan seems to have slowed down since the 2024 halving. There have been no significant transfers linked to mining rewards for over a year. As a result, the government is now relying on its existing Bitcoin reserves rather than accumulating more.
Although DHI has not publicly confirmed the exact purpose of the 2026 transfers, the steady pace of outflows indicates they will likely continue until the government meets its liquidity needs for GMC and other national projects.
With Bitcoin priced around $73,000 as of writing, which is still very low from its all-time high, these sales are expected to carry on in the near future, steadily reducing Bhutan’s Bitcoin holdings.
Related:Bhutan, Miners Sell Bitcoin While Institutions Buy, BTC Eyes $79K
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