Bhutan has significantly reduced its Bitcoin holdings by approximately 70% over the past 18 months, according to data from Arkham. The country's Bitcoin balance reportedly fell from around 13,000 BTC in late 2024 to 3,654 BTC by April 2026. This reduction is linked to wallets associated with Druk Holding & Investments, Bhutan's sovereign investment arm, and a state-backed mining program. The International Monetary Fund (IMF) has noted that Bhutan's DHI began Bitcoin mining at a 420 MW facility in 2022, expanding with Bitdeer in 2023. Despite the reduction, Bhutan's wallets still hold about $274.9 million in tracked assets. The IMF's involvement and the strategic management of reserves highlight the broader implications of Bhutan's Bitcoin sales, beyond mere treasury adjustments.