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.
The partnership aims to support Bhutan’s vision of developing a modern digital economy that aligns with the country’s environmental and governance values. Jigdrel Singay, board director of Gelephu Mindfulness City, explained that the collaboration includes Cumberland supporting Bhutan’s Bitcoin reserve management, establishing a presence in the city, and hiring local talent.
Cumberland will also deploy subject-matter experts to help develop the local workforce. This seems like a practical approach to building capacity rather than just importing foreign expertise.
Developing a national digital asset ecosystem
Cumberland, the digital asset arm of Chicago-based trading firm DRW, is one of the largest institutional liquidity providers in crypto markets. The company has been active since 2014 and services global institutions across spot and derivatives markets.
Under the memorandum, both parties aim to explore developing a national crypto ecosystem. This includes modern financial frameworks, sustainable mining, artificial intelligence compute capabilities, yield generation, and stablecoin infrastructure.
The initiative is being led by Green Digital, a GMC-linked digital infrastructure company that’s developing renewable-energy-powered computing facilities. Their task is to align digital asset development with Bhutan’s broader sustainability and economic diversification goals.
What’s interesting here is how Bhutan operates with a Gross National Happiness model, which emphasizes collective happiness over pure economic growth. This concept is central to the country’s national identity, and it appears they’re trying to integrate it into their digital strategy.
Bhutan’s existing digital asset initiatives
Bhutan isn’t new to digital assets. The country is actually one of the world’s earliest sovereign Bitcoin miners, using surplus hydropower to accumulate a national Bitcoin reserve through renewable energy.
They’ve already integrated digital assets into the GMC’s strategic reserves, enabled crypto-based payments across tourism and merchant services, and launched TER, a sovereign-backed digital token linked to physical gold.
Taken together, these initiatives position Bhutan as a rare example of a state treating Bitcoin, stablecoins, and blockchain infrastructure as long-term economic tools rather than speculative experiments. It’s a different approach than what we typically see.
DRW founder Donald R. Wilson commented on the partnership, saying, “Bhutan’s clarity of vision and emphasis on sustainable development make it a natural partner for responsible and forward-looking innovation.” He added that they’re honored to support Bhutan as it builds the foundations of a modern digital economy.
It’s worth noting that the agreement remains a memorandum of understanding, which means it outlines areas of cooperation rather than binding commitments. There’s no guarantee that specific infrastructure will be deployed, but it does signal serious intent from both parties.
This partnership seems to build on Bhutan’s existing strategy of using its abundant renewable energy resources for digital asset development while maintaining its commitment to sustainability and mindful development principles. The approach appears to be more measured and integrated than many other countries’ crypto initiatives.
