Bhutan’s DHI and Bitdeer to raise $500M to develop sustainable mining operations
DHI CEO Ujjwal Deep Dahal said that the partnership would contribute to a more sustainable domestic economy in Bhutan. Nasdaq-listed mining company Bitdeer Technologies Group and Bhutan’s sovereign investment arm Druk Holding and Investments (DHI) have teamed up to create eco-friendly and carbon-free digital asset mining operations in the Kingdom of Bhutan. In an announcement sent to Cointelegraph, Bitdeer and DHI said they would launch the partnership by creating a closed-end fund with an approximate value of $500 million. The firms aim to start their fundraising efforts at the end of May to attract investments from around the world. Bitdeer chairman Jihan Wu expressed enthusiasm about collaborating with DHI. According to Wu, the company will work with DHI to utilize Bhutan’s zero-emission energy to support blockchain technologies, which will eventually establish an unchangeable foundation for a universal store of value. He also added that the fund would provide a platform to develo...