How Bhutan Became a Carbon-Neutral Hub For Crypto Mining
Bitdeer’s new 100 MW plant is the first of three planned for the small, mountainous nation.
Thimphu: The Kingdom of Bhutan, nestled in the foothills of the Himalayas, recently became home to a massive new 100 MW crypto mining data center. And yet few know about it. Indeed, many of us know little about this mysterious Himalayan Kingdom.
Bhutan might not seem like an ideal place for a crypto mining data center. It has a lot of mountainous terrain, when data centers normally lay on flatter ground. For why Bhutan is now home for a massive crypto mining center, we must go back to 2005.
That year, the government launched several long-term initiatives to digitize communities and public institutions. Once it became more connected to the outside world, the country (population: 777,000) began leaning more into its natural features, with the aim of attracting new businesses such as cryptocurrency mining.
It’s one of only a few nations considered to be carbon-negative, meaning its atmosphere absorbs more carbon dioxide than it produces (lush, green forests cover 70% of its territory). Hydroelectric power is also plentiful. Singapore-based mining company, Bitdeer (BTDR), saw the potential: in May 2023, the company announced a partnership with Druk Holding & Investments (DHI), the Kingdom’s sovereign wealth fund, to launch a $500 million closed-end fund. The fund will be used to build mining facilities powered entirely by carbon-free hydropower. The first phase of the project- Gedu data center, with a total aggregate electrical capacity of 100 MW, has been operational since August 2023.
In 2020, Bitdeer officially emerged as a distinct entity, separate from its original parent, Bitmain, the mining pioneer. Today, Bitdeer is a comprehensive provider of crypto mining products and services catering to both individual and institutional investors.
For those seeking a hassle-free mining experience, Cloud Hash Rate simplifies the process, eliminating the need to oversee and maintain mining equipment. Established miners can benefit from the streamlined and intelligent Minerplus management system, a crypto mining management system.. Additionally, for those with ambitions of constructing their own mining facilities, Bitdeer offers end-to-end data center support, encompassing consultation, construction, and farm operation and management. Furthermore, Bitdeer has supplemented its data center solutions with Minerbase, cost-effective mobile mining containers. Bitdeer is continuously expanding its offerings within the crypto mining ecosystem, ensuring accessibility to crypto mining opportunities for everyone.
These advancements and new offerings have been made possible thanks to Bitdeer’s commitment to research and development. A quarter of its employees are dedicated to R&D, chiefly to improve mining efficiency and profitability.
Bitdeer’s R&D philosophy doesn’t limit itself to any single part of its operations and the Gedu datacenter, in Bhutan, is proof. The new facility is already online with 30,000 miners, bringing Bitdeer’s fleet to six data centers, mining an impressive 21.3 EH/s hash rate across 221,000 ASIC mining machines, with an aggregate electricity capacity of 895 MW, as of August 2023. Other data center locations include three in the U.S. — in Tennessee, Texas, and Washington — and two others in Norway.
In the ever-evolving space of crypto, mining has proved to be one of the biggest opportunities. But as the industry continues to progress, halvings continue to reduce rewards and challenge industry participants who fail to innovate. Companies like Bitdeer (BTDR), with more than ten years of experience, will continuously raise the bar through innovation and efficiency, working with a team that’s built over 30 mining operations around the world.
