Bhutan, Bitdeer plan $500 million green crypto fund

Bhutan’s investment arm Druk and crypto-mining firm Bitdeer plan to raise $500m to launch carbon-free mining centres using hydropower. The initiative will also involve investment in renewable energy such as hydrogen. Bhutan, situated between China and India, is carbon-negative and to comply with its constitution, 60% of the country has to remain covered in forest. The partnership with Bitdeer is part of the country’s efforts to diversify its economy and is an investment in a more sustainable, connected domestic economy, according to CEO Ujjwal Deep Dahal.