Bhutan Cuts Bitcoin Holdings by Over 70%

[cryptoenthusiast]

Bhutan has reduced its Bitcoin reserves by more than 70% over the past 18 months, signaling a major shift in its once-celebrated sovereign mining strategy. Data from Arkham Intelligence shows steady outflows, with over $215 million in BTC moved in 2026 alone.

The country’s holdings have dropped from around 13,000 BTC in 2024 to just under 3,800 BTC today. The lack of new mining inflows suggests Bhutan may have quietly paused its hydro-powered mining operations, raising questions about the long-term viability of its crypto experiment.

[nihalsari]

sovereign mining sounded cool until the numbers didn’t