Bitplanet Inc. has signed a memorandum of understanding with Nasdaq-listed fintech company Antalpha and its mining ecosystem partners to enter the Bitcoin mining business, the company announced.
Under the agreement, Bitplanet will deploy KRW 15 billion (approximately $10.8 million) in Bitcoin mining equipment and begin operations this month. The equipment is set for deployment at colocation sites in Oman and Paraguay — regions the company cited for competitive electricity costs and stable power infrastructure.
Antalpha, which operates the Antalpha Prime technology platform, provides BTC supply-chain and margin lending services to the Web3 industry. The partnership gives Bitplanet access to Antalpha’s global mining network, including supply-chain resources and technical support.
Bitplanet is targeting output of more than 7 BTC per month and over 80 BTC per year from its first phase of equipment.
The company plans to manage mined Bitcoin as a long-term financial asset, distributing holdings across liquidity reserves, risk-hedging funds, and reinvestment capital — a model the company is calling a Digital Asset Treasury, or DAT.
Bitcoin mining as a means of stacking bitcoin for Bitplanet
The approach differs from corporate Bitcoin treasury strategies that rely on open-market purchases. By mining Bitcoin, Bitplanet adds a production-based acquisition channel alongside its existing system integration business.
“Our partnership with Antalpha is a signal that Bitplanet has entered the global BTC mining ecosystem, and an important milestone marking the point at which the operational model we have presented begins to translate into tangible business results,” said Paul Lee, CEO of Bitplanet.
“We will continue to collaborate with Antalpha and its ecosystem partners across BTC mining, digital asset infrastructure, and related financial services, expanding the scope of our partnership,” Lee said.
Bitplanet is a South Korea-based company building AI energy infrastructure across Bitcoin mining, GPU hardware distribution, and AI data centers.
Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.