Wu Jihan's Bit Deer is seeking to raise $80 million for its first green Bitcoin fund

ChainCatcher news reports that according to Wu Blockchain, Bitdeer, owned by Wu Jihan, has begun raising funds for the Bitdeer Green Bitcoin Fund, which aims to generate returns from Bitcoin mining operations in Bhutan. It is said that the fund has a duration of six years and plans to raise $80 million for its first-phase construction project, with a minimum investment threshold of $5 million for investors. Bitdeer will use these funds to build a mining project in Bhutan with a total hash rate of nearly 20 EH/s.

Previous news indicates that Bitdeer announced in May this year a partnership with Bhutan's state-owned investment company Druk Holding and Investments to raise up to $500 million for the latter's cryptocurrency mining fund, aiming to establish a zero-carbon cryptocurrency mining base utilizing Bhutan's abundant hydropower resources.