Thukten Zangpo

The construction of the 100-megawatt (MW) crypto-mining data centre at Gedu in Bhutan has been completed, Bitdeer, the Singapore-based cryptominer, announced on August 7. 

The facility is undergoing power-on testing, with 11,000 mining machines running stably powered by hydroelectric power.

In July this year, the company announced that it had acquired 23,000 mining machines with an additional 7,000 currently in transit for a total of 30,000 that will eventually be hosted at the facility. 

With the installation of the 30,000 mining machines, about 8 to 9 Bitcoins will be mined in a day depending on the difficulty rate of the network. The current market value for a Bitcoin was at USD 29, 417 as of yesterday, 8 Bitcoins mined in a day amounts to USD 235,336 in a day. 

Chief Executive Officer of Bitdeer, Linghui Kong said, “With the construction of our Gedu datacentre in Bhutan now completed, and power-on testing underway, we have made notable progress in securing our future growth. I am pleased to announce an additional 15,000 mining machines arrived at the data centre in July, and as of today, we already have around 11,000 miners running stably.”

Earlier on May 3, the World leading and Nasdaq-listed technology company, Bitdeer, and Druk Holding and Investments announced to partner the first project of USD 500 million to develop environmentally-sustainable, carbon-free digital asset-mining operations in Bhutan.

The fundraising from the international community started by the end of May this year.

Earlier, the Chief Executive Officer of DHI, Ujjwal Deep Dahal said that the partnership with Bitdeer to launch a carbon-free digital asset-mining data centre represents an investment in a more connected and sustainable domestic economy, helping ensure at the forefront of global innovation.

This project will create local jobs in areas ranging from engineering to project management, supervisory and supportive functions. At the same time, it will generate economic activity and foreign currency-denominated revenue for local communities and the country.

The total size of the project will be 600MW and the remaining projects would be carried out in the next two years.

According to crypto news, Bhutan spent 5 percent of its gross domestic product on Bitcoin mining hardware. Bhutan entered into Bitcoin mining when the price of Bitcoin was about USD 5,000.