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Bhutan is also quite energy rich due to hydroelectric power and have been dumping the excess into bitcoin. > Bhutan is fifth among countries holding BTC, after
by itishappy 2y ago
Bhutan is also quite energy rich due to hydroelectric power and have been dumping the excess into bitcoin.
> Bhutan is fifth among countries holding BTC, after the United States, China, the United Kingdom, and Ukraine.
https://finance.yahoo.com/news/bhutan-cashes-33-5b-bitcoin-081756733.html https://finance.yahoo.com/news/bhutan-cashes-33-5b-bitcoin-0...
(Mistake in title, they've cashed out only $33 million, not billion.)
- seanmcdirmid 2y agoMaybe they could do something more productive with that surplus like host AI data centers? I know those are popping up out west in the US where green energy like wind is more plentiful.
- ponty_rick 2y agoData centers require an ecosystem of technology to exist - skilled manpower, fiber optic network, grid capacity etc, they're probably not up for it yet.
- samatman 2y agoWhen you said "productive", do you perhaps mean socially useful? It takes a lot of AI data center to derive a billion-dollar profit, which is the value just of the Bitcoin which Bhutan currently retains. Seems fairly economically productive to me.
- seanmcdirmid 2y agobitcoin is fiat digital money, its value is all based on how others think it is worth (due to scarcity or whatever); even worse it's price goes up and down rather quickly, making it not very useful as something to exchange goods and services with. AI can actually do productive things. Bhutan could start up a bunch of call centers staffed not by people, but AI agents powered by its green energy.