Bitdeer to Raise $500M for Bhutan Crypto Mining Operations in Deal With Government

Bitcoin mining company Bitdeer (BTDR) said it will work with the Bhutan government to establish cryptocurrency mining operations in the southeast Asian country. The Nasdaq-listed miner and the government's commercial arm, Druk Holding & Investments, will establish a $500 million fund to raise money for the venture from international investors and expect fundraising efforts to start this month. The raised funds will be utilised to construct data centers in the country. They will be powered by hydropower, which provides the country with virtually all of its electricity.

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