BroadChain has learned that on April 11, the Bhutan government transferred approximately 319.7 BTC (worth $22.68 million) to two addresses, with 250 BTC routed to a wallet that had previously directed funds to Galaxy Digital and OKX.
Bhutan's holdings have decreased from around 13,000 BTC in October 2024 to the current 3,954 BTC, valued at approximately $280.6 million, representing a 70% reduction over 18 months.
Since 2026, a total of $215.7 million worth of Bitcoin has been transferred out of Bhutan's holding addresses.
Furthermore, Bhutan's national mining pool has not recorded Bitcoin inflows exceeding $100,000 for over a year, indicating that its hydroelectricity-powered Bitcoin mining operations may have slowed down or ceased.
