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Mining cryptocurrency has long attracted criticism for the energy-guzzling nature of the process. But now a unique approach to this problem may be on the horizon. The investment arm of Bhutan along with Nasdaq-listed company Bitdeer Technologies Group is seeking investors to set up a fund of up to 500 million dollars. The fund will then be used to develop green crypto mining in the Himalayan kingdom, reported Bloomberg.
The fund raising is expected to commence towards the end of May and the goal is to set up mining that is free of carbon, thus tapping into Bhutan’s abundant hydroelectric power.
The Kingdom of Bhutan’s Druk Holdings and Investment fund is reportedly investing millions in crypto. According to the website, DHI “is a company incorporated…