As a monumental event in the cryptocurrency sector – the fourth Bitcoin (BTC) halving – approaches, the Kingdom of Bhutan has decided to boost the nation’s Bitcoin mining capacity sixfold in an effort to offset the event’s potential revenue impact and maintain operational efficiency.
Specifically, the Himalayan country’s investment arm, Druk Holding & Investments (DHI), has announced it was teaming up with crypto mining firm Bitdeer, through a partnership that envisions the introduction of cutting-edge Bitcoin mining hardware, as Bloomberg reported on April 4.
Bitcoin mining difficulty. Source: Bloomberg/CryptoQuant
Bitcoin price prediction
Indeed, Bitcoin was at press time trading at $66,519, recording a slight decline of 0.01% on its daily chart, adding up to the 5.21% drop across the previous week, and a 1.09% loss over the past month, according to the most recent price information retrieved by Finbold on April 5.
It is also worth mentioning that a number of crypto trading analysts have offered a BTC price prediction between $100,000 this year and a massive $1,000,000 in 2025 thanks to the influence of the Bitcoin halving 2024. That said, doing one’s own research is critical before investing a significant amount of money in the asset.
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