Bhutan Sells 70% of Its Bitcoin Reserves as Mining Slows to a Halt

The wallet now holds almost 3,774 BTC after this transfer, a significant decrease from 13,000 BTC in October 2024.

Written by: Olumide Adesina • Sunday, April 12, 2026 • 1 min read

• Last updated: Sunday, April 12, 2026

Bitcoin is climbing today after days of bearish movement.

Quick overview

Bhutan has sold over 70% of its Bitcoin reserves in the past 18 months, raising concerns about its sovereign mining initiative.
Recent analysis shows that Bhutan's public investment arm has methodically liquidated Bitcoin, moving $215.7 million in 2026 alone.
The kingdom's Bitcoin holdings have decreased from 13,000 BTC in October 2024 to nearly 3,774 BTC after recent transfers.
In contrast to Bhutan's selling trend, companies like MicroStrategy continue to aggressively acquire Bitcoin.

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Bhutan has sold over 70% of its Bitcoin (BTC) reserves in the last 18 months, casting doubt on the future of its once-heralded pioneering sovereign mining experiment.

Bitcoin lost Monday's upward momentum on Tuesday and is now close to $71K.

According to Arkham Intelligence’s on-chain analysis, the Himalayan kingdom’s public investment arm carried out a methodical, slow liquidation

According to Wu Blockchain, in just 2026, $215.7 million in Bitcoin was moved from the kingdom’s wallets. Additionally, according to the most recent data from Arkham, Bhutan transferred an extra 250 BTC about eighteen hours ago.

The wallet now holds almost 3,774 BTC after this transfer, a significant decrease from 13,000 BTC in October 2024.

Bhutan’s sovereign wealth fund, Druk Holding and Investments (DHI), in 2019, started mining Bitcoin using the nation’s excess hydroelectric power. The tiny, landlocked Himalayan kingdom is now among the biggest sovereign Bitcoin holders in the world thanks to this initiative.

Genius Group paid off an $8.5 million debt by liquidating its entire 84.15 BTC cash balance. In contrast, Nakamoto Holdings lost money compared to its average purchase price when it sold about 284 BTC for almost $20 million in March. MicroStrategy’s strategy, which acquired 44,377 BTC in March alone and currently holds more than 766,970 BTC, stands in stark contrast to this surge in sales.

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ABOUT THE AUTHOR See More

Olumide Adesina

Financial Market Writer

Olumide Adesina is a French-born Nigerian financial writer. He tracks the financial markets with over 15 years of working experience in investment trading.