Bhutan Resumes Bitcoin Sales, Transfers $28 Million to Binance
The Royal Government of Bhutan has resumed selling Bitcoin (BTC) to fund its ambitious project, Gelephu Mindfulness City. This follows a month-long hiatus from BTC sales. The government transferred 434.87 BTC ($27.93M) to Binance on August 7.
This sale is significantly smaller than the previous one in July, where the government offloaded 700 BTC to the exchange. The total amount of BTC sold by Bhutan's administration has surpassed $140 million since its announcement in December 2025 to develop GMC using the proceeds from BTC sales acquired through hydropower mining.
Gelephu Mindfulness City is a massive project, spanning over 2,600 square kilometers. It will serve as an autonomous region focused on green technology, digital finance, and sustainable urban living. The government aims to create this special administrative economic zone using the funds generated from BTC sales.