Bhutan's plans to set up a $500 million fund for encryption of monetary dig the Himalayas

Bhutan's investment arm and nasdaq listed company Bitdeer Technologies Group, a plan for as much as $500 million worth of funds for investors, the fund will be used in the Himalayan kingdom develop green mining encryption currency.According to a joint statement on Wednesday, for institutional investors financing activities will begin at the end of may, the goal is to use of Bhutan is rich in hydropower carbon-free digital mining is established. The chief executive of investment department Druk Holding & Investments Ujjwal Deep Dahal said in an interview

Economic strategyA forested Bhutan between China and India, a population of about 777000, has long been seeking to achieve economic diversification of income which depend on hydroelectric power. Druk manages government in stocks, bonds, technology, energy, and the traditional areas such as real estate investment, and according to its so-called "future-oriented" strategy for the encryption of mining and investment.COINS miners to use energy consumption of the computing device to solve complicated mathematical problems, to gain new tokens, supply in return. When dirty fuel supply power, which led to the criticism of the environmental impact.Miners are digital asset prices collapsed last year, higher energy costs and increased competition. As the encryption monetary market rebound in 2023, the situation has improved.Singapore-based Bitdeer by Chinese entrepreneurs, avoid is cold with wu is one of the strongest encryption monetary miners computer power, has one of the largest center in Texas. With a special purpose acquisition of a company of the long-stalled merger between _ after finally ended, the company began last month in nasdaq trading.