Bitcoin

April

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">Bitdeer Technologies is joining forces with Bhutan’s sovereign investment arm to establish a $500 million fund, aiming to tap the kingdom’s abundant hydroelectric power to develop carbon-free mining operations, the companies said in a <a aria-label="joint statement (opens in a new tab)" href="https://www.globenewswire.com/en/news-release/2023/05/03/2659973/0/en/Bitdeer-and-Druk-Holding-Investments-to-Jointly-Develop-Green-Digital-Asset-Mining-Operations-in-the-Kingdom-of-Bhutan.html" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">joint statement</a> on Wednesday. </p> 
<h3 id="bitdeer-to-build-a-100-mw-mining-operation-in-bhutan">Bitdeer to Build a 100-MW Mining Operation in Bhutan</h3> 
<p>Druk Holding and Investments (DHI), a sovereign investment arm of Bhutan, and publicly-listed crypto miner Bitdeer Technologies are looking to launch a $500 million closed-end fund to develop green crypto mining operations in the Himalayan kingdom. According to the press release, the fundraising process targeting institutional backers is set to begin at the end of May.</p> 
<p>The companies say the fund’s primary goal is to establish a carbon-free digital mining project that would take advantage of Bhutan’s plentiful hydroelectric power resources. DHI’s CEO Ujjwal Deep Dahal believes crypto represents a low-risk opportunity for Bhutan to foray into crypto, adding the kingdom will initially focus on Bitcoin.</p> 
<blockquote class="wp-block-quote"> 
 <p>“It’s important for us to look at assets that are low volume, high value, or digital assets for that matter, and try to position ourselves in a way that we can be competitive globally over time to build our economy.”</p> <cite>– said Ujjwal Deep Dahal, CEO of DHI. </cite>
</blockquote> 
<p>Bitdeer will set up a 100-megawatt operation in Bhutan as part of the deal. The construction of the mining facility is expected to start in Q2 and be completed from July through September. Founded in 2018 by crypto tycoon Jihan Wu, Bitdeer is a digital asset mining service provider that <a href="https://tokenist.com/bitcoin-mining-firm-bitdeer-to-go-public-in-a-4b-spac-deal/" rel="dofollow" class="deco-link">went public</a> on the Nasdaq stock exchange last month through a $1.1 billion special acquisition purpose company (SPAC) merger.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="dhi-confirms-reports-about-crypto-exposure">DHI Confirms Reports About Crypto Exposure</h3> 
<p>The announcement of the new fund comes just a few days after <a aria-label="DHI confirmed (opens in a new tab)" href="https://thebhutanese.bt/dhi-confirms-that-it-is-mining-digital-assets/" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">DHI confirmed</a> earlier reports that the investment arm has been mining Bitcoin for several years to diversify its portfolio. According to the <a href="https://tokenist.com/bhutans-sovereign-fund-defaulted-on-blockfi-debt-according-to-report/" rel="dofollow" class="deco-link">April reports</a>, DHI has held tens of millions of dollars in crypto funds without previously revealing it to the public.</p> 
<p>DHI said it first showed interest in Bitcoin mining when the world’s biggest cryptocurrency was valued at about $5,000. The arm’s officials said risks tied to its crypto efforts are mitigated as the company does not directly trade cryptocurrencies.</p> 
<p>DHI’s exposure to crypto raised concerns among some investors, given that the fund was primarily established to safeguard the country’s wealth and bring long-term value to its shareholders. The Forbes report also revealed that DHI borrowed $30 million from BlockFi, which the crypto lender claims it has failed to return. <a href="https://tokenist.com/blockfi-announces-bankruptcy-as-ftx-contagion-spreads/" rel="dofollow" class="deco-link">BlockFi filed</a> for bankruptcy last year in the wake of the <a href="https://tokenist.com/ftx-files-for-bankruptcy-sbf-to-step-down-as-ceo/" rel="dofollow" class="deco-link">FTX collapse</a>.</p> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title">
   <strong>Finance is changing.</strong>
  </div> 
  <div class="cta-sub__subtitle">
   Learn how, with Five Minute Finance.
  </div> 
  <div class="cta-sub__excerpt">
   A weekly newsletter that covers the big trends in FinTech and Decentralized Finance.
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
   Awesome
  </div> 
  <div class="cta-sub__caption">
   You’ve subscribed.
  </div> 
  <div class="cta-sub__greeting">
   You’re well on your way to being in the know.
  </div> 
 </div> 
</div> 
<p><em><strong>Would DHI’s plans to launch a crypto fund cause further concerns among shareholders? Let us know in the comments below.</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/bitdeer-and-bhutans-sovereign-investment-fund-ink-500m-green-mining-deal/">Bitdeer and Bhutan’s Sovereign Investment Fund Ink $500M Green Mining Deal</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Bitdeer and Bhutan’s Sovereign Investment Fund Ink $500M Green Mining Deal

目录

TokenInsight

发布于 2023年5月3日的其他文章

SIF Token Turns 3 Years Old..

IMF Director Warns of Unknown Consequences of Retail CBDCs for Financial Systems

Africa records the lowest YoY funding in April 2023

An Introduction to Thetan Arena

UK government cracks down on crypto cold calls to combat fraud

Achievements: MetaBeat [1Q, 2023]

订阅我们免费的电子期刊，获取每日最新加密领域动态！