# Arkham Related Articles

How Much Bitcoin Has Bhutan Sold This Year? Arkham Updates 2026 Figure After Latest Move

According to on-chain data from Arkham Intelligence, the Bhutanese government has continued to sell portions of its Bitcoin holdings in 2026. In its latest move, Bhutan transferred $8.5 million worth of BTC, continuing a trend of periodic sales in batches of $5 to $10 million that began in September 2025. So far this year, the country has seen a net outflow of $120 million in Bitcoin to open-market participants, including exchanges and trading firms. This has reduced its holdings by approximately 1,700 BTC. The consistent outflows, without significant incoming transactions, have raised questions about whether Bhutan is scaling back its government-backed mining operations. Meanwhile, Bitcoin's price hovers around $66,770.

bitcoinist03/29 22:01

Has Bhutan Stopped Mining Bitcoin? New BTC Moves Fuel Fresh Questions

Bhutan's recent Bitcoin transfers, totaling $72.3 million over 24 hours, have raised questions about whether the country has stopped mining BTC. Blockchain analytics firm Arkham noted that the last significant inflow to known Bhutan-linked wallets was over a year ago, suggesting the state-backed mining operation may have slowed or halted. However, alternative explanations exist, such as seasonal hydropower limitations or the use of unidentified wallets for mining rewards. Bhutan has historically framed its Bitcoin strategy as a long-term national commitment rather than speculative trading. The ongoing outflows indicate distribution rather than accumulation, but the true status of Bhutan's mining activities remains uncertain.

bitcoinist03/19 20:32

Bhutan Transfers Nearly $12M in BTC as Total Transfers Near $42M This Year

The Royal Government of Bhutan transferred 175 BTC, worth approximately $11.85 million, on March 9 as part of its ongoing management of state-backed crypto reserves. This follows a previous transfer of around 100 BTC to QCP Capital about a month earlier. So far this year, Bhutan has moved a total of 395.498 BTC, valued at roughly $41.56 million. According to Arkham Intelligence, the government periodically sells portions of its Bitcoin in clips of $5–10 million. Despite these sales, Bhutan remains a significant national holder of Bitcoin, with 5,425 BTC worth about $379.53 million, plus a small amount of Ethereum. The total tracked crypto portfolio stands at approximately $379.59 million.

TheNewsCrypto03/10 07:51

Bhutan Starts Selling Bitcoin Again: Arkham Flags $22.4 Million

bitcoinist02/05 12:02

Mt. Gox Hacker Unloads 1,300 Bitcoin As $360 Million Still Remains

Mt. Gox-linked entities associated with Aleksey Bilyuchenko have deposited another 1,300 BTC (worth $114 million) into unknown exchanges over the past week, according to Arkham analyst Emmett Gallic. The wallets still hold approximately 4,100 BTC ($360 million), with a total of 2,300 BTC sold so far. This continues a pattern of gradual selling observed since late 2023. Bilyuchenko faces charges in the U.S. for his alleged role in the 2011 Mt. Gox hack and money laundering conspiracy, carrying potential 20-year sentences. In Russia, he was convicted in a separate case related to the WEX exchange and sentenced to 3.5 years in prison. Uncertainty remains over who currently controls the funds, with some analysts suggesting possible involvement by Russian authorities.

bitcoinist12/25 15:43

Bitcoin Worth $3 Million Moved from Dormant 10-Year-Old Road Wallets

Approximately 312 Bitcoin wallets, dormant for over a decade and linked to the infamous darknet marketplace Silk Road, have been activated, moving around $3.1 million worth of Bitcoin to an unknown wallet. According to analytics platform Arkham, these transactions occurred on December 10th. The funds, which had remained untouched since 2013 when Bitcoin was valued at roughly $100, have seen their value increase nearly 1,000-fold, with Bitcoin's current price around $92,300. This $3.1 million transfer is only a portion of the total funds in the cluster, which still holds an additional $38.5 million. The movement of these coins follows the January 2025 pardon of Silk Road's creator, Ross Ulbricht, by former U.S. President Donald Trump, leading to his release from a life sentence. Prior to his pardon, Coinbase product director Conor Grogan had identified approximately 430 BTC across dozens of wallets that were suspected to belong to Ulbricht. These specific coins were never seized by authorities during the 2013 shutdown of the platform. The identity of the individual or entity behind the recent transactions remains unknown, and it is unclear if Ulbricht has any connection to them.

RBK-crypto12/10 12:44