Bhutan Transfers Another 519 BTC to Exchanges

The Royal Government of Bhutan has long used hydropower to mine Bitcoin, treating it as a national digital asset. Its holdings have fallen significantly from their 2024 peak, and continued transfers could add to market selling pressure while reducing the Bitcoin reserves available to the Gelephu Mindfulness City project.

The latest on-chain transaction in 2026 showed the Royal Government of Bhutan transferring another 519.707 BTC to exchanges, taking its total outflows this year above $150 million. Market observers speculate that the assets could be sold through a structured over-the-counter transaction arranged by QCP Capital, but officials have yet to disclose the purpose of the transfer, the execution price or the exact disposal date.