Panthalassa Secures $140M Funding for Ocean-Based Data Centers; Bhutan's Bitcoin Holdings Under Scrutiny
Panthalassa has raised $140 million, nearing a $1 billion valuation, to develop floating data centers powered by ocean energy. Meanwhile, Bhutan's sovereign wealth fund faces a $1 billion discrepancy in Bitcoin holdings as it struggles to meet its Gelephu Mindfulness City pledge.
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Panthalassa has raised $140 million in a funding round led by Peter Thiel, increasing its valuation close to $1 billion. The startup aims to deploy Ocean-3 prototypes in the Pacific Ocean this year, with commercial operations projected by 2027.
Concurrently, Bhutan's sovereign wealth fund, Druk Holding and Investments (DHI), has seen significant Bitcoin outflows, reportedly down to 3,100 BTC from 13,000 BTC in October 2024. This reduction raises concerns over its ability to fulfill a 10,000 BTC commitment for the Gelephu Mindfulness City project. DHI's denial of recent sales and claims of active mining operations do not align with the blockchain data indicating accelerated outflows, which may lead to potential liquidity challenges.
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