The Royal Government of Bhutan has deposited almost 435 Bitcoin, worth approximately $28 million, into Binance for an intended sale, according to Lookonchain data. This August 7 transaction continues a pattern of regular monthly disposals, including 700 BTC in July, 533 BTC in mid-June, and 738 BTC in early June. The proceeds are funding the Gelephu Mindfulness City (GMC), a 2,600-square-kilometer autonomous economic zone announced in late 2025, focusing on green technology, digital finance, and sustainable urban living. A $45 million sale in March also contributed to the funding.
The Royal Government of Bhutan has deposited almost 435 Bitcoin, worth approximately $28 million, into Binance for a potential sale, according to data from the on-chain analytics resource Lookonchain.
This transaction, recorded on August 7, 2026, follows a pattern of regular sales by the administration. In July, wallets linked to the government transferred 700 BTC to the exchange.
Earlier disposals include 533 BTC in mid-June and 738 BTC in early June. May saw two smaller batches of 100 and 90 BTC sent to Binance, as noted by Arkham and Lookonchain.
A previous major offloading occurred in March, when the government sold $45 million worth of Bitcoin within a few days. The proceeds are intended to fund the development of Gelephu Mindfulness City (GMC), a special administrative region announced in late 2025.
“After a month of inactivity, Royal Government of Bhutan sold another 434.87 $BTC ($27.93M),” Lookonchain stated in a post. The GMC project spans over 2,600 square kilometers and is designed as a multi-generational economic zone.
It will operate as an autonomous region concentrating on green technology, digital finance, and sustainable urban living. The government generates its Bitcoin through hydropower mining.
