Bitcoin mining company Bitdeer Technologies has launched an $80 million fund for its first phase mining construction project in Bhutan.
Bitdeer plans to step up its operations in the South Asian country by creating a private fund dedicated to Bitcoin mining in Bhutan, Wu Blockchain reported on Friday.
Jihun Wu’s mining company launches $80 million funding for first phase construction
Bitdeer Technologies, a Singapore-based Bitcoin mining company founded by Jihan Wu, has launched an $80 million fund for its first phase mining construction project in Bhutan.
This fund, called Bitdeer Green Bitcoin Fund, aims to generate returns from Bitcoin mining operations in Bhutan. The fund, which will be invested over six years, aims to raise a total of $80 million for the first phase construction project, starting with a minimum investment threshold of $5 million.
Bitdeer is known as a subsidiary of Bitmain and is affiliated with Chinese mining rig manufacturer Bitmain. It recently formed a partnership with Druk Holdings and a state-owned investment firm called Investments to raise up to $500 million to expand its presence in Bhutan.
Jihan Wu expressed his excitement about this project that they will realize in Bhutan and stated that they are pleased to cooperate with Druk Holding and Investments (DHI) in enabling blockchain technologies in a sustainable way and harnessing the zero-emission power of Bhutan.
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