Blockchain data shows that the Royal Government of Bhutan has staked 320 Ether (ETH) value around $970,000 through Figment. This marks the most recent on-chain activity from the Himalayan state because it expands its crypto holdings and validation operations.
Figment is a staking provider that helps large-scale investors and institutions stake digital assets across multiple blockchains and earn rewards for securing proof-of-stake networks.
The move adds to a growing wave of Ethereum-focused activity from Bhutan. In October, the South Asian country of around 800,000 people began migrating its self-governing digital ID system from Polygon to Ethereum, allowing residents to confirm their identity and access government services via the network.
Crypto transfers from Bhutan. Source: Arkham
Ethereum integration is already live and all resident credentials are expected to be fully migrated by early 2026, Ethereum Foundation President Aya Miyaguchi said on the launch of the event alongside Vitalik Buterin and Bhutan's Prime Minister Tshering Tobgay.
Bhutan is expanding its crypto footprint
Bhutan has been counting on digital assets for years. In 2019, the country quietly began accumulating Bitcoin through the use of its hydroelectric resources to mine the cryptocurrency. According to Arkham, it holds roughly 6,154 BTC, value over $562 million at current prices.
In July, Bhutan announced plans to spice up its tourism industry by integrating cryptocurrency payments nationwide and attracting younger travelers. Officials said the Binance-backed move has nearly 1,000 merchants on board and goals to modernize remittances and reduce friction for tourists.
Bhutan's growing activity reflects broader trends in institutional and company Bitcoin accumulation, where large holders have gained increasing influence over the market.
Among corporate BTC treasury holders, Michael Saylor's strategy dominates with 649,870 BTC, while Marathon Holdings is a distant second with 53,250 BTC.
The world's largest known Bitcoin stash still belongs to Satoshi Nakamoto, the network's pseudonymous creator, who’s estimated to manage about 1.1 million BTC.
