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Bhutan, known for measuring development through happiness and sustainability, is now embracing Bitcoin as a means to combat economic challenges and brain drain. The country is leveraging its abundant hydropower to mine Bitcoin, which Prime Minister Tshering Tobgay believes could generate significant revenue during periods of surplus energy. Amid rising youth unemployment and struggles to attract tourists post-COVID-19, Bhutan’s strategic pivot to cryptocurrency aims to stabilize its economy and retain skilled workers, despite the inherent risks of volatile digital currencies.
