TLDR
- Bitplanet signed a memorandum of understanding with Nasdaq-listed Antalpha and its mining partners.
- The company will deploy KRW 15 billion, or about $10.8 million, in Bitcoin mining equipment.
- Mining operations will begin this month at colocation sites in Oman and Paraguay.
- Bitplanet targets output of more than 7 BTC per month and over 80 BTC per year.
- The company plans to hold mined Bitcoin under its Digital Asset Treasury strategy.
Bitplanet has signed a memorandum of understanding with Nasdaq-listed Antalpha to start Bitcoin mining operations. The company will deploy KRW 15 billion, or about $10.8 million, in mining equipment. The plan places equipment in Oman and Paraguay, where the company cited low power costs and stable supply.
Bitplanet Plans Bitcoin Mining Rollout With Antalpha
Under the agreement, Bitplanet will work with Antalpha and mining ecosystem partners. The company said the partnership gives it access to resources and technical support.
Antalpha operates the Antalpha Prime technology platform and serves the Web3 market. It provides BTC supply-chain services, margin lending, and infrastructure support.
Bitplanet said it will use KRW 15 billion for its first mining phase. The company expects the equipment to begin operations this month.
The machines will run at colocation sites in Oman and Paraguay. Bitplanet selected those locations because of competitive power prices and supply.
The company aims to produce more than 7 BTC each month from the first deployment. It also targets output of more than 80 BTC per year.
The mining plan adds a new line to Bitplanet’s system integration operations. Therefore, the company will acquire Bitcoin through production, not through purchases.
Bitcoin Output to Support Digital Asset Treasury Plan
Bitplanet plans to hold mined Bitcoin as a long-term financial asset. It will divide holdings across liquidity reserves, hedging funds, and reinvestment capital.
The company calls that structure a Digital Asset Treasury, or DAT. The model links mining output with treasury management and capital allocation.
Paul Lee, CEO of Bitplanet, said the agreement marks entry into the BTC mining ecosystem. He said the company’s operating model has started producing results.
“Our partnership with Antalpha is a signal that Bitplanet has entered the global BTC mining ecosystem,” Lee said. He called the deal “an important milestone” for the company’s plan.
Lee said Bitplanet will keep working with Antalpha and its partners. He said the companies plan to expand cooperation across mining and digital asset infrastructure.
The partnership also covers financial services. As a result, the agreement gives both companies room to widen work.
The agreement connects Bitplanet with Antalpha’s mining network and contacts. In turn, the company gains support for sourcing and deployment.
Bitplanet describes itself as a South Korea-based firm building AI energy infrastructure. Its focus areas include Bitcoin mining, GPU hardware distribution, and AI data centers.
