South Korean tech company Bitplanet is making a move into Bitcoin mining. The company signed a memorandum of understanding with Nasdaq-listed fintech firm Antalpha to launch mining operations, deploying KRW 15 billion — roughly $10.8 million — worth of equipment starting this month.
The rigs are headed to colocation sites in Oman and Paraguay, regions Bitplanet chose for cheap, reliable power. That’s nothing new — miners have been chasing low electricity costs for years. But the structure of this deal is a bit different from the typical playbook.
Rather than just buying hardware and plugging it in, Bitplanet’s getting access to Antalpha’s global mining network, supply chain resources, and technical support through the Antalpha Prime platform. It’s a partnership more than a solo venture. The company expects to produce over 7 BTC per month from its first phase — north of 80 BTC annually.
What’s more interesting is how they plan to handle the coins. Bitplanet isn’t selling mined Bitcoin for fiat. They’re calling it a Digital Asset Treasury — splitting holdings across liquidity reserves, hedging funds, and reinvestment capital. It’s a production-based treasury strategy, which sets it apart from companies like Strategy that accumulate through open-market purchases.
CEO Paul Lee called it “an important milestone” marking the transition from planning to execution. The company’s also building AI energy infrastructure and GPU distribution alongside the mining operation. If the numbers hold, it’s a clean way to stack Bitcoin without moving the market against yourself.
