Key Takeaways:
Arkham tracked Bhutan’s BTC holdings falling from 13,000 BTC in Oct. 2024 to today’s reported 3,121 BTC.DHI CEO Ujjwal Deep Dahal said in 2026 he does not “recall” Bhutan selling BTC.Arkham told Coindesk its AI-labeled wallets tied to Bhutan remain unverified by officials.Arkham Intelligence’s data extends far beyond Bhutan, as the platform has notably flagged wallet addresses tied to entities such as the U.S. government, Blackrock, Strategy, and numerous other organizations and individuals. In addition to DHI’s statement regarding sales activity, Dahal told the newsdesk the country experienced a “fortunate” year in terms of rainfall, which helps power the mining operations through hydropower infrastructure.
The statement from the DHI executive remains vague and neither confirms nor denies the activity, leaving open the possibility that Arkham Intelligence’s data and the tracked wallet addresses tied to Bhutan may be entirely accurate.
