BitDeer, a leading cryptocurrency mining company, has announced a deal with the government of Bhutan to raise $500 million for crypto mining operations in the country. The move comes as the company seeks to expand its operations and tap into the country’s abundant renewable energy resources.
Bhutan, known for its commitment to sustainable development, has long been a popular destination for renewable energy companies. With its abundant hydroelectric power resources, the country has attracted the attention of cryptocurrency mining companies looking for a cost-effective and eco-friendly way to mine digital assets.
Under the deal, BitDeer will partner with the Bhutanese government to build and operate a series of data centers in the country. The centers will be powered by renewable energy sources, including hydroelectric power, and will be used to mine a variety of cryptocurrencies.
According to BitDeer, the new operations will not only be eco-friendly but will also provide economic benefits to the country. The company expects the project to create thousands of jobs and generate significant revenue for the Bhutanese economy.
“We are excited to partner with the government of Bhutan to build a sustainable and profitable crypto mining industry in the country,” said a spokesperson for BitDeer. “By tapping into the country’s renewable energy resources, we can create a win-win situation that benefits both our company and the people of Bhutan.”
The deal is the latest in a series of partnerships between BitDeer and governments around the world. The company has previously partnered with governments in Canada and Kazakhstan to build and operate large-scale crypto mining operations.
The announcement comes as the cryptocurrency industry continues to grow, with more and more companies seeking to tap into the potential of digital assets. With its commitment to sustainability and its abundance of renewable energy resources, Bhutan is well-positioned to become a major player in the crypto mining industry.
The deal is subject to regulatory approval and is expected to close later this year. With the support of the Bhutanese government and its commitment to sustainable development, BitDeer is poised to make a major impact in the world of cryptocurrency mining.
