The Kingdom of Bhutan may have stopped its Bitcoin mining operations.

Bhutan May Have Slowed or Stopped Bitcoin Mining After Selling 70% of Holdings

Bhutan may have stopped or scaled back its bitcoin mining operations after selling 70% of its holdings, according to reports on April 11th. The move stands in contrast to sovereign nations like El Salvador, which have been accumulating crypto—El Salvador now holds over 7,618 BTC.

Under economic pressure, Bhutan's hydropower is now being directed more toward selling electricity to neighboring India than toward bitcoin mining. Falling bitcoin prices, rising network difficulty, and halving pressures are also squeezing mining margins. The country's sovereign wealth fund, Druk Holding and Investments, which manages Bhutan's bitcoin assets, has not yet commented publicly on the fund transfers or the status of its mining operations.