Bhutan has strengthened its position in the digital-asset ecosystem by staking 320 ETH—valued at about $970,000—through staking provider Figment, signaling its growing commitment to Ethereum validation. This follows a series of recent blockchain-focused initiatives by the Himalayan nation.
In October, Bhutan began shifting its national self-sovereign digital ID system from Polygon to Ethereum, a major upgrade expected to be fully completed by early 2026.
Bhutan’s crypto journey began years earlier. The country quietly started mining Bitcoin in 2019 using hydropower and currently holds roughly 6,154 BTC, worth more than $562 million. More recently, it partnered with Binance to introduce cryptocurrency payments nationwide, onboarding nearly 1,000 merchants to enhance tourism services.
Bhutan’s deepening activity reflects a wider global trend of institutional Bitcoin and Ethereum accumulation. Large holders such as Michael Saylor’s Strategy continue to dominate corporate treasuries, while Satoshi Nakamoto is still believed to control the network’s largest stash. Bhutan now appears firmly positioned among governments embracing blockchain infrastructure.
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