Bhutan’s government-linked wallets have transferred another 533.2 BTC worth around $34.5 million to the Binance exchange, continuing a massive reduction of state-owned cryptocurrencies. According to oncheen analysts, since June 2025, the country has realized approximately 10,451 BTC for a total amount of almost $979 million at an average price of $93,738. After the last transaction, Bhutan has approximately 1,750 Bitcoines worth $113 million.

Unlike states that received cryptocurrency through confiscation, Bhutan built its stockpile with sovereign hydropower mining, peaking at 12,200 BTC in early 2025. The systematic sale began after the actual completion of government mining operations, which analysts regard not as panic but as a deliberate fixation on profits.

The crypto community was divided on the impact of these sales on the market. Some traders see Bhutan’s actions as an additional factor in putting pressure on Bitcoin against the backdrop of macroeconomic uncertainty, while others see it as a successful example of energy monetization, confirming the trend toward state competition in sovereign mining.

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The material is prepared solely for informational purposes and does not constitute a financial advice or recommendation.