The Kingdom of Bhutan may have ceased Bitcoin mining activities and shifted to selling electricity to neighboring India.

Deep Tide TechFlow News, April 11, according to CoinDesk reports, after selling 70% of its Bitcoin holdings, there are reports that the Kingdom of Bhutan may have stopped or slowed Bitcoin mining activities, contrasting sharply with other major institutions and sovereign nations increasing their cryptocurrency and gold holdings (El Salvador’s current Bitcoin holdings have exceeded 7,618 coins). It is reported that due to economic pressures, its hydroelectric power is now more often used to sell electricity to neighboring India rather than for Bitcoin mining. Additionally, falling Bitcoin prices, rising network difficulty, and halving pressures are squeezing mining profit margins.

As of now, the national sovereign wealth fund Druk Holding and Investments, which manages Bhutan’s Bitcoin assets, has not made any public comments regarding fund transfers or the status of its mining operations.