Crazy Town: Episode 110. Et Tu, Bhutan? Cryptocurrency and Late-Stage Capitalism

This article explores how Bhutan, once celebrated for pioneering Gross National Happiness over GDP growth, has recently pivoted to cryptocurrency mining, raising questions about whether any nation can resist modern capitalism's gravitational pull.

The hosts of Crazy Town podcast examine Bhutan's disappointing transformation from a Buddhist kingdom that prioritized wellbeing and environmental protection to a major Bitcoin mining operation generating $1.3 billion in reserves. Using abundant hydroelectric power, Bhutan now dedicates significant energy resources to cryptocurrency production rather than sustainable development, effectively abandoning the Gross National Happiness philosophy that made it an inspiration for alternative economics advocates worldwide.

• Bhutan's Bitcoin mining operations now represent 40% of the country's GDP, funded through government-run facilities
• The shift demonstrates how even isolated nations struggle to resist techno-capitalism's influence and speculative investment pressures
• Other examples like Canada's Nunavut territory and Wales' Wellbeing of Future Generations Act show alternative approaches to governance and sustainability
• The transformation highlights the broader challenge of maintaining alternative economic models in an interconnected global economy