Ran some numbers.
Lower threshold (if Bhutan bought at the Q4 ‘21 peak of ASICS price/Th) = 53 MW
Likely size (assuming they got a midrange price of $56/Th and bought S19JPro equivalents): 100 MW.
That’s over 3 EH.
In other words, Bhutan now likely have just under 1% of global hashrate, running on hydro.
Go Bhutan!
https://www.forbes.com/sites/iainmartin/2023/04/30/bhutan-bitcoin-mining-crypto/?sh=dbfdf2f1f1b6