El Salvador's latest multihundred-million-dollar expansion of its Bitcoin reserve has reignited scrutiny over the country's adherence to commitments made under a $1.4bn IMF loan agreement, as the Bukele administration simultaneously accelerates investment in advanced computing infrastructure.

Government data released by the state-run Bitcoin Office indicated that the country added between 1,090 and 1,098 BTC—valued at slightly over $100mn—during the first half of the week. The acquisition, which was executed in several tranches of 500 BTC and a smaller 90-BTC purchase, lifted the national reserve to roughly 7,474 BTC, equivalent to just under $700mn at current market prices. President Nayib Bukele, a long-time crypto advocate, confirmed the increase by posting an image on X with the caption “Hooah!”

But the scale and timing of the expansion has renewed questions surrounding El Salvador’s commitments to the IMF. The Fund stated in a July report that the government pledged not to increase the total Bitcoin held across state-controlled wallets. The IMF previously insisted that prior rises in the public Bitcoin dashboard were attributable to internal transfers within the Chivo digital wallet system, rather than new acquisitions. Salvadoran officials disputed this interpretation, maintaining that accumulation had continued despite an agreement to limit Bitcoin-related initiatives.

Official reserve data published by the Bitcoin Office show that holdings rose from 5,968 BTC in December 2024—when the IMF programme was formalised—to more than 7,474 BTC after the latest transaction. This directly contradicts a letter of intent cited by the IMF, in which the central bank and finance ministry claimed that no additional Bitcoin had been purchased post-agreement and that steps were being taken to reduce fiscal exposure. Cointelegraph notes that the discrepancies partly stem from Chivo’s accounting practice, which does not adjust state reserves when user deposits fluctuate.

The government’s buying persisted during one of Bitcoin’s sharpest market reversals of the year. Prices briefly fell below $90,000, more than 26% beneath the October all-time high of $126,000. Analysts cited by Bitcoin Magazine reported that approximately 148,000 BTC held by short-term investors were sold at a loss during the downturn, marking the largest capitulation event since April.

Parallel to its Bitcoin expansion, the Bukele government unveiled the arrival of Nvidia B300 “Blackwell Ultra” processors—hardware designed for large-scale artificial-intelligence workloads. The chips, supplied to El Salvador by Supermicro, will be deployed in a geothermal-powered national AI laboratory, forming part of a strategy to construct what officials describe as “AI sovereignty”.

Together, the developments reflect El Salvador’s pursuit of an unconventional economic model: continued Bitcoin accumulation in defiance of IMF pressure, combined with rapid investment in high-end computation and digital infrastructure.