Bhutan continues to reduce its Bitcoin holdings, and the mining plan is also slowing down

According to Arkham data, the Bhutanese government sent 100 BTC to QCP Capital, worth $6.77 million. Over the past three weeks, the Bhutanese government has been selling Bitcoin weekly. Bhutan sold at least $100 million worth of Bitcoin last September and continues to gradually offload. Currently, Bhutan holds $372 million worth of Bitcoin in confirmed wallets.

Additionally, Bhutan's mining operations were originally planned to collaborate with Bitdeer Technologies to produce up to 600 MW of Bitcoin mining power, but on-chain data shows that their mining speed has slowed since the halving in April 2024.