Bhutan's Bold Bitcoin Sale: $40 Million Cashed Out Amidst Surging Prices

Bitcoin Strategy? Bhutan Sells BTC for 40 Million USD

The Kingdom of Bhutan has recently made headlines by selling Bitcoin worth $40 million, as reported by BTC-ECHO. This move comes amidst a surge in Bitcoin prices, prompting the country to capitalize on its strategic reserves accumulated through mining since 2019. The sale involved transferring 406 Bitcoins to QCP Capital, reducing Bhutan's holdings to approximately 11,791 BTC valued at around $1.16 billion.

This decision places Bhutan among the top state holders of Bitcoin globally, trailing only behind countries like the USA and China. With an economy heavily reliant on hydropower for mining operations and modest foreign exchange reserves totaling $648 million, this sale represents more than one-third of its GDP.

Publicly Listed Miner Borrows 500 Million Dollars to Buy Bitcoin

According to Newsbit.de, Riot Platforms is making bold moves in the cryptocurrency market by planning to borrow up to $500 million with convertible bonds aimed at purchasing additional Bitcoins. This strategy aligns them with MicroStrategy’s approach to accumulating significant amounts of Bitcoin while leveraging debt against potential depreciation of fiat currencies like the US dollar.

Riot Platforms currently holds over 10,000 Bitcoins and continues expanding their portfolio without any sales during recent quarters despite producing substantial new coins each period. Their aggressive acquisition plan underscores confidence in long-term value appreciation within digital assets markets.

Wind Power: Mara Mints Bitcoins with Green Energy

Mara Corporation is taking innovative steps towards sustainable crypto-mining practices by utilizing wind energy sources for powering their operations—a development highlighted on Golem.de's platform dedicated primarily to technology news coverage across various sectors including blockchain advancements worldwide.

Bitmain Expands Bitcoin Miner Production to the USA

The Chinese manufacturer Bitmain has expanded its production line into America amid escalating trade tensions between both nations affecting supply chains significantly, according to IT BOLTWISE reports. By establishing facilities stateside, they aim to improve response times and provide efficient services to North American clientele facing delays due to export restrictions imposed on high-speed memory chips. These components are crucial for ASIC machines essential for successful bitcoin extraction endeavors, ultimately benefiting everyone involved.

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Article Summary

Bhutan sold $40 million worth of Bitcoin, reducing its holdings to 11,791 BTC amid rising prices and highlighting its significant position among state holders. Meanwhile, Riot Platforms plans to borrow up to $500 million for more Bitcoin purchases, showcasing confidence in digital assets' long-term value despite potential fiat currency depreciation.