24/7 Wall St.
Bhutan Mined 13,000 Bitcoin. Nearly All of It Is Gone.
xCruzo Brief
Bhutan’s Bitcoin stash—mined rather than purchased—has reportedly shrunk dramatically since a 2024 peak. At its October 2024 high, the kingdom held about 13,000 BTC, which would be worth roughly $1.05 billion if priced at $81,135. But blockchain analytics firm Arkham said that, as of June 17, 2026, wallets it tracks held just 1,750 BTC, or about 13% of the peak, valued near $142 million. Arkham observed 533 BTC moving to a Binance deposit address and over $230 million in outflows recorded as of May 12. Bhutan’s government disputes the reduced figure, saying it doesn’t recall selling any Bitcoin; authorities haven’t reported a newer balance.
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