Bhutan and Bitdeer to Raise $500M in Funding for Bitcoin Mining
Interestingly this move has been welcomed by many within the crypto community, who sees Bhutan ’s embrace of mining as a way to help legitimize the industry and promote its adoption on a broader scale, of which Jihan Wu’s Bitdeer , a leading provider of cloud-based cryptocurrency mining services happens to be among. advertisement The Bhutan and Bitdeer Alliance Bitdeer, known for its landmark engagements in the crypto mining space has reportedly been in talks with Bhutanese officials about collaborating on various mining projects as its involvement in the new fund could help to bring even more attention and investment to the sector. Meanwhile, the Singapore-based company will serve as the overall partner of the fund while Druk Holding & Investments (DHI), the commercial arm of Bhutan’s government will act as a strategic partner. The fundraising is expected to commence by the end of this month, according to both entities. Additi...