The Bhutanese authorities have been selling Bitcoin from their reserves for the third consecutive week. The latest sale of 100 BTC generated approximately $6.8 million, noted analysts from Arkham.
BHUTAN JUST SOLD $6.7 MILLION BTC
— Arkham (@arkham) February 13, 2026
Bhutan has been selling Bitcoin every week for the past 3 weeks. pic.twitter.com/cLL3fb2Ckh
Experts from the platform pointed out that since September, the kingdom has sold at least $100 million worth of the cryptocurrency. Approximately 5,600 BTC, valued at around $372 million, still remain in identified Arkham wallets.
According to analysts, the primary source of Bitcoin accumulation for Bhutan has been mining. At its peak, the country's reserves exceeded 13,000 BTC.
The volume of Bitcoin mining surged at the beginning of 2023 but significantly declined after the fourth halving in the Bitcoin network. The block reward was reduced from 6.25 BTC to 3.125 BTC in April 2024.
The mining capacity utilized by the government, in partnership with Bitdeer, was expected to reach 600 MW. Jihan Wu's company launched the Gedu data center in August 2023 . However, achieving the planned hashrate of 20 EH/s at the site has significantly slowed down, Arkham emphasized.
In the second half of 2024, industry experts noted that miners faced the most severe profit crisis in history.
At the beginning of 2025, amid falling Bitcoin prices, many popular mining setups approached the breakeven point.
The decline in Bitcoin prices and rising energy tariffs triggered mass shutdowns of equipment by companies due to record losses, leading to a reduction in hashrate. Another negative factor was the impact of a winter storm in the U.S.
It is worth noting that on February 7, the difficulty of Bitcoin mining decreased by 11%. This marked the largest drop in the metric since the cryptocurrency mining ban in China in 2021.