According to the latest on-chain data from tracking firm Arkham Intelligence, Bhutan transferred around 100 BTC on April 29, worth nearly $8 million. Arkham Intelligence data shows that Bhutan’s total BTC sales as of 2026 have already exceeded $200 million. It still holds more than 3,400 BTC, with cumulative profits exceeding $750 million.
Latest on-chain transaction data and holding size
According to Arkham Intelligence on-chain data, Bhutan’s transfer of about 100 BTC on April 29 is part of an ongoing sell-off trend since 2026, with the full-year total sales already exceeding $200 million.
Based on Arkham Intelligence data, Bhutan currently still holds more than 3,400 BTC. At current market prices, the value reaches several hundred million dollars, and cumulative profits exceed $750 million.
Bhutan’s BTC acquisition model
According to public information, Bhutan’s bitcoin reserves are mainly accumulated through state-supported hydroelectric power mining. It builds mining operations based on abundant hydro resources and does not obtain them through direct purchases on the open market. This means the cost basis of Bhutan’s BTC holdings is lower than the market purchase price.
For comparison, since El Salvador announced Bitcoin as legal tender in 2021, it has continued to buy Bitcoin on the open market as a long-term national reserve. Bhutan, by contrast, obtains BTC via hydro mining and has continued to sell its holdings since 2026.
FAQ
Which entity disclosed Bhutan’s April 29 Bitcoin transfer? What was the size?
According to Arkham Intelligence on-chain data, Bhutan transferred about 100 BTC on April 29, 2026, worth nearly $8 million.
How much Bitcoin does Bhutan still hold? How much has it sold in 2026?
Based on Arkham Intelligence data, Bhutan currently still holds more than 3,400 BTC. Its total BTC sales as of 2026 have already exceeded $200 million, with cumulative profits exceeding $750 million.
How does Bhutan obtain its Bitcoin reserves?
According to public information, Bhutan mainly acquires its Bitcoin reserves through state-supported hydroelectric power mining, rather than by purchasing on the open market.
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