Bitdeer Technologies Group (Bitdeer) and Druk Holding and Investments (DHI), the commercial arm of the Royal Government of Bhutan, have announced a strategic partnership to develop environmentally sustainable, carbon-free digital asset mining operations in the Kingdom of Bhutan.
Bitdeer will serve as the general partner, while DHI will act as a strategic limited partner.
The capital raised will be channeled toward greenfield operations in Bhutan, encompassing the construction of datacenters and the acquisition of cutting-edge technology, which aligns with Bhutan’s ambitious plans to accelerate the Kingdom’s digital transformation and economic diversification by exploring emerging sectors.
This initiative includes investments in strategic areas such as renewable energy assets that include hydropower, green ammonia, and the hydrogen fuel economy, and also in emerging technologies such as blockchain, artificial intelligence, machine learning systems, carbon credit platforms and the metaverse.
The upcoming carbon-free digital asset mining operations in Bhutan mark a crucial expansion into Asia of Bitdeer, complementing Bitdeer’s existing datacenters in Northern Europe and North America.
Expected to launch in May 2023, the partnership will enable Bitdeer to tap into Asia’s abundant resources, contributing to the flourishing regional ecosystem.
The partnership is expected to create local jobs in areas ranging from engineering to project management, supervisory and supportive functions.
At the same time, the partnership is expected to generate economic activity and foreign-currency-denominated revenue for local communities and the country.
Bitdeer has mining datacenters deployed in the United States and Norway.
DHI is the commercial arm of the Royal Government of Bhutan, was established in 2007 to hold and manage the existing and future investments of the Royal Government for the long-term benefit of the people of Bhutan.
As the government-owned holding company in Bhutan, DHI holds shares of 21 different domestic companies operating in the manufacturing, energy, natural resources, financial, communication, aviation, trading, and real estate sectors.