Intro to a Green Partnership
In a groundbreaking collaboration, Nasdaq-listed Bitdeer Technologies Group is joining forces with Bhutan’s sovereign investment entity, Druk Holding and Investments (DHI), to spearhead the development of eco-friendly digital asset mining in Bhutan. This ambitious venture not only emphasizes sustainability but also aims to leverage Bhutan’s unique resources.
Funding the Future: A $500 Million Closed-End Fund
The duo has unveiled plans to establish a closed-end fund valued at approximately $500 million, with fundraising kicking off at the end of May. Investors from across the globe are being invited to participate in this eco-conscious initiative that is poised to reshape the landscape of digital asset mining.
Jihan Wu’s Vision for Blockchain in Bhutan
Jihan Wu, Chairman of Bitdeer, is particularly enthusiastic about harnessing Bhutan’s zero-emission energy for blockchain technologies. He believes this will create a solid foundation for a universal store of value. Wu articulated that the fund will not merely be a financial investment but will also help forge international networks that could significantly boost Bhutan’s tech ecosystem.
Enhancing Lives: DHI’s Perspective
Ujjwal Deep Dahal, CEO of DHI, echoed Wu’s excitement, pointing out that this partnership aligns with DHI’s mission to uplift the lives of the Bhutanese people. He envisions a sustainable domestic economy blooming from this cross-border collaboration, bringing technology and investment into a region ripe for growth.
Employment Growth and Economic Impact
The partnership is anticipated to create numerous job opportunities across diverse fields such as:
- Engineering
- Project Management
- Supervisory Roles
- Support Functions
These jobs are expected to not only provide employment but also stimulate economic growth and enhance foreign currency revenues for the local community and the nation.
Bhutan’s Quiet Crypto Investments
Recently revealed court documents unveiled that Bhutan has been silently amassing a crypto portfolio via DHI, even investing millions in cryptocurrencies without public disclosure. The nation began its crypto venture by mining Bitcoin as early as April 2019, which was a time when Bitcoin was priced around $5,000—talk about getting in early!
Conclusion: A Bright, Green Future
This alliance between Bitdeer and DHI represents a significant stride towards not only modernizing Bhutan’s economy but also setting a precedent for sustainable practices in digital asset mining. If everything goes to plan, we might soon be heralding Bhutan as a beacon of eco-friendly blockchain innovation!
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