The Kingdom of Bhutan is allocating 10,000 BTC—nearly $1 billion—to build a city focused on meditation, clean energy, and innovation. This project is based on a sustainable energy strategy and the gradual integration of Bitcoin and Bitcoin mining into the national economy.
Bhutan is banking on Bitcoin to finance a sustainable and spiritual city
The government of the Kingdom of Bhutan recently announced plans to invest 10,000 Bitcoins—equivalent to $864 million at current rates—to support the development of its new city: Gelephu Mindfulness City (GMC).
This new city aims to become a model of sustainability, based on “mindfulness,” technology, and respect for the environment. It will be powered by the country’s surplus hydroelectric energy, which has already been used for several years to mine Bitcoin. The funds committed will not only be used to build infrastructure but are also expected to create jobs, develop local skills in technology and finance, and attract international partners.
Map of Bhutan
Bhutan is currently the country with the largest Bitcoin reserves relative to its gross domestic product: over 11,200 BTC, or approximately 22.5% of its GDP, with a value of nearly one billion dollars. This ranks it fourth globally among Bitcoin-holding nations, even ahead of El Salvador, which adopted BTC as legal tender in 2021.
The kingdom was able to amass this fortune thanks to its significant hydroelectric power surpluses, which have been harnessed for several years. However, it was not until September 2024 that the existence of this reserve was revealed, further highlighting the role that Bitcoin mining can play in leveraging energy surpluses and advancing renewable energy development.
The country has also launched the TER, a gold-backed token, and is already integrating crypto payments into tourism and commerce.
Why Bhutan’s project could succeed where El Salvador’s Bitcoin City is struggling
This city project based on Bitcoin and mining is reminiscent of the Bitcoin City announced in 2021 by Salvadoran President Nayib Bukele.
However, construction on this ambitious city has been significantly slowed down, relegated behind other national priorities such as security, education, or the construction of other infrastructure. Projects such as the renovation of a port or the construction of expressways are now considered more urgent to lay the groundwork.
One of the main obstacles remains the energy issue: Bitcoin City must be powered by geothermal power plants using energy from the nearby volcano. However, these facilities are expensive to build and require several years of development before becoming operational.
In contrast, Bhutan already benefits from energy surpluses generated by its hydroelectric power plants, as well as the financial resources needed to support the construction of Gelephu Mindfulness City.
