How Bhutan Has Been Silently Accumulating Sustainable Bitcoin for Years
and other bits of wisdom from a carbon-negative territory where happiness is actively measured
The small, picturesque Himalayan nation of Bhutan has embraced Bitcoin, not only by accumulating cryptocurrency but also by using green energy to mine it. This is an incredible example of how tradition and technology are capable to co-existing in peace and prosperity.
With a population of under 800,000, the country is well-known for its focus on “Gross National Happiness” and its stunning landscapes. It’s also one of my favourite places in the world, and the news that they’ve been mining and accumulating Bitcoin for years prompted me to discuss this incredible little territory and its role in cryptocurrency adoption.
Bhutan is Carbon Negative
Bhutan is not only carbon-neutral but is actually carbon-negative, meaning that it absorbs more carbon dioxide from the atmosphere than it produces. The country’s forests play a crucial role in achieving this remarkable feat. The Bhutanese government has implemented policies to protect its forests, which cover more than 70% of the country’s land area. In Bhutan, cutting down trees is strictly regulated, and the government has even imposed a ban on exporting timber. The country has also committed to keeping at least 60% of its land under forest cover. This has helped Bhutan to maintain its carbon-negative status.
The fact that this country has been able to Mine Bitcoin and be a carbon-negative territory is an incredibly strong point for cryptocurrency adoption and completely demolishes the fallacy that mining Bitcoin is bad for the environment. In fact, Bhutan proves that it’s good for the environment and the economy!
Bhutan is able to achieve this incredible balance by actively pursuing renewable energy sources such as hydropower. The country has a number of hydropower plants, which generate clean energy and help to reduce its carbon…