Bhutan Moves Another 90 BTC as 2026 Transfers Hit $237M

TLDR

• Bhutan transferred another 90 BTC worth about $7 million to a SegWit address.
• Total Bitcoin transfers from Bhutan-linked wallets have now exceeded $237 million in 2026.
• Arkham data shows Druk Holding and Investments’ Bitcoin holdings have declined by around 10,000 BTC since October 2024.
• Blockchain records indicate some earlier transfers moved funds toward wallets linked to Galaxy Digital and OKX.
• Druk Holding and Investments has not issued a public statement on the recent Bitcoin transfers.

Bhutan transferred another 90 BTC worth about $7 million to a SegWit address. On-chain data shows the total Bitcoin moved this year now exceeds $237 million. The fresh transaction has renewed focus on Bhutan’s sovereign crypto strategy.

Blockchain records show the 90 BTC left a wallet linked to state holdings. The funds moved to a SegWit address separate from three known P2SH clusters.

Those P2SH wallets have historically stored most of Bhutan’s Bitcoin reserves. The new address differs from the country’s primary sovereign holdings.

Arkham data indicates Druk Holding and Investments’ stash has declined by around 10,000 BTC. The reserve fell from about 13,390 BTC in October 2024 to roughly $233 million today.

Earlier this year, Bhutan transferred 100 BTC on April 29. That batch carried an estimated value of nearly $8 million.

At that stage, data showed more than $206.98 million had already moved since January. The steady flow of transactions has continued since then.

Bhutan Bitcoin Transfers Exceed $237M in 2026

On April 11, blockchain trackers recorded 319.7 BTC leaving a state-linked wallet. That transaction carried an estimated value of $22 million.

Reports indicate about 250 BTC from that batch entered wallets linked to Galaxy Digital and OKX. Both firms operate as major crypto trading platforms.

Also, Bhutan sold about 285 BTC in February. Those sales occurred in multiple batches during the month.

Arkham has tracked the transfers through publicly labeled blockchain addresses. The analytics platform continues to update Bhutan-linked wallet balances.

Mining Model Faces Pressure After Halving

Bhutan built its Bitcoin reserves through hydropower-backed mining operations. Druk Holding and Investments manages those activities.

Unlike other countries, Bhutan did not rely on seizures or treasury purchases. The state mined Bitcoin using domestic energy resources.

The 2024 halving reduced block rewards to 3.125 BTC per block. Mining competition increased as rewards declined.

Bitcoin price trades at $77,271 at press time and remains down nearly 12% year to date. The asset recently rebounded above $77,000 after dipping near $75,000.

Druk Holding and Investments has not issued a public statement on the transfers. The company has also not confirmed the current status of its mining infrastructure.

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