Bhutan Shifts 175 BTC Worth About $11.85 Million From State Wallet Amid Ongoing Sales

On Monday, blockchain analytics firm Arkham identified a transfer of 175 Bitcoin, valued at roughly $11.85 million, from Bhutan's primary government wallet to an address set up about a month earlier. Bhutan has mined around 13,000 Bitcoin since 2019 using surplus hydroelectric power and now holds about 5,400 BTC after years of periodic sales in $5–10 million batches. The proceeds from these Bitcoin disposals have reportedly been used to fund healthcare, environmental initiatives, and public sector wages.