不丹展示發展中國家如何利用比特幣挖礦來改善經濟

東喜馬拉雅山不丹王國正在展示一個強有力的例子，說明發展中國家如何利用比特幣挖礦來改善其經濟

Bhutan, a small East Himalayan kingdom, is quietly making a powerful statement about how developing nations can use Bitcoin mining to bolster their economies and propel themselves toward greater economic prosperity.

東喜馬拉雅山脈的一個小王國不丹正在悄悄發表強有力的聲明，說明發展中國家如何利用比特幣挖礦來提振其經濟並推動自己走向更大的經濟繁榮。

On Sept. 16, onchain analytics platform Arkham Intelligence claimed to have detected and identified the first Bitcoin BTC $62,925 address belonging to Bhutan’s investment arm, Druk Holding and Investments. According to Arkham, DHI holds 13,029 BTC, 656 Ether ETH $2,557 , some BNB BNB $568 and Polygon MATIC $0.3739 , which together total roughly $780 million in various crypto holdings.

9 月 16 日，鏈上分析平台 Arkham Intelligence 聲稱已偵測到並識別出屬於不丹投資部門 Druk Holding and Investments 的第一個 62,925 美元比特幣地址。據 Arkham 稱，DHI 持有 13,029 BTC、656 ETH ETH（2,557 美元）、一些 BNB BNB 568 美元和 Polygon MATIC 0.3739 美元，各種加密貨幣持有量總計約 7.8 億美元。

BTC

比特幣

$62,925

$62,925

ETH

以太坊

$2,557

$2,557 美元

BNB

幣安銀行

$568

$568

MATIC

瑪蒂克

$0.3739

$0.3739

This means that Bhutan’s crypto reserves account for over 26.9% of its $2.9 billion 2023 national gross domestic product (GDP), according to data from the World Bank.

根據世界銀行的數據，這意味著不丹的加密貨幣儲備佔其 2023 年 29 億美元國內生產毛額 (GDP) 的 26.9% 以上。

As nations around the world grapple with staggering debt levels, they face increasing economic strain as borrowing costs rise and fiscal challenges multiply. The mounting debt crisis is sparking debates about the long-term sustainability of current economic models, especially in poorer countries that rely heavily on external loans.

隨著世界各國努力應對驚人的債務水平，隨著借貸成本上升和財政挑戰成倍增加，它們面臨越來越大的經濟壓力。日益嚴重的債務危機引發了關於當前經濟模式長期可持續性的爭論，特別是在嚴重依賴外部貸款的較貧窮國家。

Total debt liabilities issued by central governments as a share of GDP. Source: International Monetary Fund

中央政府發行的債務總額佔GDP的比例。資料來源：國際貨幣基金組織

During the Bitcoin 2024 conference in Nashville, Tennessee, Michael Saylor, founder and chairman of software and Bitcoin-proxy company MicroStrategy, explained how nations — particularly those burdened with substantial debt — could use Bitcoin to solve their economic woes.

在田納西州納許維爾舉行的比特幣 2024 會議上，軟體和比特幣代理公司 MicroStrategy 的創始人兼董事長 Michael Saylor 解釋了各國（尤其是背負巨額債務的國家）如何使用比特幣來解決其經濟困境。

He proposed a strategy where indebted countries could reallocate their treasury reserves from assets like gold and bonds to Bitcoin, a long-term digital asset. By doing so, these countries could leverage Bitcoin’s growth potential to pay off debt and possibly achieve economic prosperity.

他提出了一項策略，負債國家可以將其國庫儲備從黃金和債券等資產重新分配到比特幣（一種長期數位資產）。透過這樣做，這些國家可以利用比特幣的成長潛力來償還債務，並可能實現經濟繁榮。

The World Bank classifies Bhutan, a small Asian nation with limited economic capacity, as a developing country. Countries in this category typically have a gross national income (GNI) per capita below $14,005. Most countries worldwide fall into this category, and many could follow Bhutan’s example to address their national debt. Some potential candidates include Paraguay, Venezuela, El Salvador, Argentina and Kenya.

不丹是一個經濟能力有限的亞洲小國，世界銀行將其列為發展中國家。此類國家的人均國民總收入 (GNI) 通常低於 14,005 美元。世界上大多數國家都屬於這一類，許多國家可以效法不丹的例子來解決其國債問題。一些潛在的候選國包括巴拉圭、委內瑞拉、薩爾瓦多、阿根廷和肯亞。

Paraguay: A renewable energy giant limited by politicians

巴拉圭：受政客限制的再生能源巨頭

Paraguay made moves toward regulating Bitcoin mining in 2024, largely due to its abundant hydroelectric energy resources. The country’s low electricity costs and favorable climate have made it an attractive destination for cryptocurrency miners.

巴拉圭在 2024 年採取了對比特幣挖礦進行監管的舉措，這主要是由於其豐富的水力發電資源。該國低廉的電力成本和有利的氣候使其成為對加密貨幣礦工有吸引力的目的地。

Joaquin Morinigo, also known as Criptoboi, co-founder of Bitcoin Paraguay, told Cointelegraph, “Paraguay has a unique position in the world because 99% of its energy is hydroelectric.”

巴拉圭比特幣聯合創始人 Joaquin Morinigo（又名 Criptoboi）告訴 Cointelegraph，“巴拉圭在世界上擁有獨特的地位，因為該國 99% 的能源都是水力發電。”

Morinigo explained that Paraguay’s low energy demand cannot absorb all the energy produced by the hydroelectric dams, so the surplus energy eventually ends up being exported to Argentina and Brazil at “rock-bottom prices.”

莫里尼戈解釋說，巴拉圭較低的能源需求無法吸收水力發電大壩產生的全部能源，因此剩餘能源最終以「最低價格」出口到阿根廷和巴西。

Even though Paraguay is the largest power exporter in South America and among the 10 largest worldwide, politics and regulation have prevented the country from using its surplus energy for cryptocurrency mining.

儘管巴拉圭是南美洲最大的電力出口國，也是全球十大電力出口國之一，但政治和監管阻止該國利用其剩餘能源進行加密貨幣開採。

Morinigo pointed out that the same political party has ruled Paraguay for over 70 years. He believes the ruling bureaucrats fail to fully understand Paraguay’s vast energy potential to build a profitable Bitcoin mining infrastructure.

莫里尼戈指出，同一政黨統治巴拉圭70多年。他認為，執政官僚未能充分了解巴拉圭建立可獲利的比特幣挖礦基礎設施的巨大能源潛力。

Related: Venezuela opposition’s Bitcoin reserve plan must overcome political turmoil first

相關：委內瑞拉反對派的比特幣儲備計畫必須先克服政治動盪

In 2022, Paraguay’s legislature approved a bill to regulate cryptocurrency mining to establish a clear legal framework for the industry in the country. The bill required miners to register with government authorities and adhere to specific energy consumption standards, ensuring compliance while fostering the growth of crypto-related activities.

2022 年，巴拉圭立法機構批准了一項監管加密貨幣挖礦的法案，為該國該行業建立明確的法律框架。該法案要求礦工向政府當局註冊並遵守特定的能源消耗標準，確保合規性，同時促進加密相關活動的成長。

However, former President Mario Abdo Benítez vetoed the bill, citing concerns over energy consumption and minimal economic benefits. Some lawmakers urged the government to consider the benefits of selling the surplus energy to local crypto miners instead of exporting it to Argentina and Brazil. Despite friction from lawmakers, mining operations have continued to grow, albeit in a regulatory gray zone.

然而，前總統馬裡奧·阿卜多·貝尼特斯否決了該法案，理由是擔心能源消耗和微乎其微的經濟效益。一些立法者敦促政府考慮將剩餘能源出售給當地加密礦商而不是出口到阿根廷和巴西的好處。儘管立法者存在摩擦，採礦作業仍在繼續增長，儘管處於監管灰色地帶。

Venezuela: Energy giant with stunted crypto adoption

委內瑞拉：加密貨幣採用受阻的能源巨頭

Venezuela has faced severe economic crises, including hyperinflation and shortages of essential goods, and many citizens have turned to cryptocurrencies to protect their earnings from inflation.

委內瑞拉麵臨嚴重的經濟危機，包括惡性通貨膨脹和必需品短缺，許多公民轉向加密貨幣以保護他們的收入免受通貨膨脹的影響。

Rate of inflation from August 2023 – August 2024. Source: Trading Economics

2023 年 8 月至 2024 年 8 月的通貨膨脹率。

The country is rich in oil and natural gas, providing a cheap and abundant energy source for electricity generation, an important factor in Bitcoin mining’s proliferation.

該國擁有豐富的石油和天然氣，為發電提供了廉價且豐富的能源，這是比特幣挖礦激增的重要因素。

Anibal Garrido, CEO of crypto assets self-custody firm BTC Techno, told Cointelegraph that if Venezuela used its natural wealth correctly, it could bring “our nation into a cycle of financial profitability and operational sustainability” in the Bitcoin mining sector.

加密資產自我託管公司BTC Techno 的執行長 Anibal Garrido 告訴Cointelegraph，如果委內瑞拉正確利用其自然財富，它可能會讓「我們的國家進入比特幣挖礦行業的財務盈利和運營可持續性循環」。

However

然而