Karla Barker 
Bhutan expands green Bitcoin strategy with Cumberland partnership
Bhutan has signed a multi-year memorandum of understanding with crypto market maker Cumberland DRW. The agreement focuses on building digital asset infrastructure in Gelephu Mindfulness City, which is Bhutan’s special administrative region designed to attract global talent.
This partnership deepens Bhutan’s existing sustainability-focused crypto strategy. The country has been mining Bitcoin using surplus hydropower for years, accumulating a national Bitcoin reserve through renewable energy. Now they’re taking that approach to the next level with institutional support.
What the partnership involves
According to the announcement, Cumberland will support Bhutan’s Bitcoin reserve management and establish a presence in Gelephu Mindfulness City. They’ll also hire local talent and deploy experts to develop the local workforce. It’s not just about mining though—the collaboration aims to explore developing a national crypto ecosystem.
That includes modern financial frameworks, sustainable mining, artificial intelligence compute, yield generation, and stablecoin infrastructure. The initiative is being led by Green Digital, a GMC-linked company developing renewable-energy-powered computing facilities.
Bhutan’s unique economic approach
What makes this interesting, I think, is Bhutan’s broader economic philosophy. The country operates with a Gross National Happiness model, which emphasizes collective happiness over pure economic growth. This isn’t just another country jumping on the crypto bandwagon—it’s a deliberate attempt to integrate digital assets into a specific development vision.
Jigdrel Singay, board director of Gelephu Mindfulness City, explained that the partnership supports Bhutan’s vision of developing a modern digital economy that aligns with environmental and governance values. It’s about finding a balance between technological progress and sustainability.
Beyond just Bitcoin mining
Bhutan has already integrated digital assets into various aspects of its economy. They’ve enabled crypto-based payments across tourism and merchant services. They launched TER, a sovereign-backed digital token linked to physical gold. And now with this Cumberland partnership, they’re looking at building comprehensive infrastructure.
Donald R. Wilson, founder of DRW, said Bhutan’s clarity of vision and emphasis on sustainable development make it a natural partner for responsible innovation. He noted they’re honored to support Bhutan as it builds the foundations of a modern digital economy.
It’s worth remembering that this is still just an MoU—a memorandum of understanding. That means it outlines areas of cooperation rather than binding commitments. There’s no guarantee that specific infrastructure will actually be deployed. But the direction is clear: Bhutan wants to position itself as a rare example of a state treating Bitcoin, stablecoins, and blockchain infrastructure as long-term economic tools rather than speculative experiments.
Cumberland, for context, is the digital asset arm of Chicago-based trading firm DRW. They’ve been active in crypto since 2014 and are one of the biggest institutional liquidity providers in crypto markets. Their involvement suggests this isn’t just a small-scale experiment but part of a serious institutional approach to digital asset development.
What strikes me about this whole situation is how Bhutan seems to be approaching crypto differently than most countries. They’re not just regulating it or banning it—they’re actively building it into their national economic strategy, but with their unique sustainability and happiness-focused twist. It’s an experiment worth watching, though perhaps one that won’t be easily replicated elsewhere given Bhutan’s specific circumstances and values.