Bitdeer Technologies Group and Druk Holding & Investments announced a strategic partnership to develop environmentally sustainable, carbon-free digital asset mining operations in the Kingdom of Bhutan (the Partnership). Bitdeer and DHI expect to launch the Partnership through establishing a closed-end fund with an estimated size of up to USD 500 million (the Fund). Fundraising is expected to commence at the end of May, with the goal to attract investment from the international community.

The Fund will leverage Bitdeer's expertise and support to advance DHI's digital asset mining and investment and blockchain initiatives in Bhutan. Bitdeer will serve as the general partner, while DHI will act as a strategic limited partner. The Partnership is expected to create local jobs in areas ranging from engineering to project management, supervisory and supportive functions.

At the same time, the Partnership is expected to generate economic activity and foreign-currency-denominated revenue for local communities and the country.