How Much Bitcoin Has Bhutan Sold This Year? Arkham Updates Figure For 2026 After Latest Move
According to the latest on-chain data, Bhutan has continued to move Bitcoin from its main government-linked wallets for the past day. This latest transfer confirms the trend of sending their BTC assets to the open market so far this year.
Bhutan Delivers $120 Million in Bitcoin by 2026
On Saturday, March 27th, Arkham Intelligence revealed that the Bhutanese government sent $8.5 million worth of Bitcoin to its main addresses. “This transfer is almost to a new address with a different type of address in Bhutan,” on-chain analytics firm X wrote.
Bhutan, a nation famous for its state-backed mining operations, has been reducing its Bitcoin stash, which it built up over the past few years. As Arkham revealed in his report, the South-Asian country has started selling its Bitcoin (in batches of $5 to $10 million) from September 2025.
The crypto intelligence platform noted that Bhutan has transferred around $159 million to its hosting addresses since the beginning of the year, with more than $39 million flowing back in the opposite direction. This organization achieves a total outflow of Bitcoin worth 120 million dollars to open market participants or platforms, including exchanges and trading firms such as QCP Capital.
Source: @arkham on X
Arkham wrote on the X forum:
Bhutan sells parts of its Bitcoin in chunks of ~$5-10M, and sold ~3500 BTC in mid-September 2025. Bhutan’s outgoing transfer volume has also started to increase in recent weeks, as the situation appears to reduce its holdings by around 1700 BTC since the beginning of the year.
With the price of BTC struggling so far this year, it’s no surprise that the country may be looking to reduce exposure to the world’s largest cryptocurrency by using market capitalization. At the same time, the continued outflow of Bitcoin from the ruling government addresses has raised the question of whether Bhutan is emerging from the Bitcoin mining scene.
This question gained a lot of credibility because the addresses held in Bhutan that were identified did not see an inflow of more than $100,000 in more than a year, despite frequent withdrawals. Although on-chain trends suggest that the state’s mining operations have been suspended, there is no way to confirm, especially considering the possibility of moving their mining money to new, unmarked wallet addresses.
Bitcoin Price At A Glance
As of this writing, the price of BTC stands at around $66,770, representing a jump of more than 1% in the last 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image created by DALL.E, chart from TradingView
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