Bhutan’s largest state-owned company, Druk Holding and Investments, announced that it has been mining bitcoin for several years to diversify its investment portfolio.</div
DHI CEO Ujjwal Deep Dahal said the company began showing interest in mining bitcoin when it was worth about $5,000 a coin.
In addition to BTC, there is interest in ether. Dahal assured: the company is not exposed to risks associated with crypto-assets, since it does not engage in direct purchase of them.
DHI covers mining operating costs by selling bitcoins. Mining activities are carried out using surplus electricity generated by local hydroelectric power plants.
“Our company invests in different asset classes that provide access to traditional sectors of the economy.
In addition to traditional industries, we are interested in further mining of digital assets,” said the CEO of DHI.
The head of the holding company said that mining is related to the company’s strategic development and has nothing to do with the FOMO syndrome – the fear of missing out on the benefits of the technology.
DHI started to form a team of cryptocurrency specialists. Dahal added that the company was able to pay off all the loans it took out from the bankrupt BlockFi and Celsius platforms.
Companies with no connection to cryptocurrencies start mining bitcoin. In 2021, Chinese tea company Urban Tea also set up mining farms to expand its business.