Bitplanet, Antalpha to Deploy KRW15bn in Bitcoin Miners

Bitplanet signed a memorandum of understanding with Nasdaq-listed Antalpha to deploy KRW 15 billion in Bitcoin mining equipment and begin full-scale mining this month. The company intends to treat mined Bitcoin as operating revenue and manage mined coins as long-term financial assets.

Under the MOU, initial equipment is expected to target more than 7 BTC per month and over 80 BTC annually, subject to equipment utilization and power costs. Bitplanet previously accumulated Bitcoin through purchases and acquisitions and is adding mining operations to its treasury strategy.

Antalpha, which trades on Nasdaq under the ticker ANTA after an IPO in May 2025, provides mining-related finance including machine loans, hashrate loans, supply-chain credit and margin-lending services. Its Antalpha Prime unit offers financing arrangements that allow mined BTC to be used as collateral for hosting, maintenance and other operating costs.

Bitplanet plans overseas deployments in regions with competitive electricity and stable power, naming Oman and Paraguay as potential markets. The company described an overseas colocation model that combines outsourced operations and joint ventures for hosting and maintenance.

Using a Bitcoin price near $61,000 as a reference, 80 BTC would represent about $4.9 million of gross output before electricity, hosting, financing, repairs, taxes and corporate overhead. Net value to Bitplanet’s balance sheet will depend on hashprice, equipment uptime, power contracts, hosting terms and the share of production retained after service fees.

Recent industry metrics show hashprice around $30–$36 per petahash per day in recent months and miner revenue estimates that have fallen year over year. One market estimate put May miner revenue at roughly $1.12 billion, down about 26% from a year earlier. Some miners have been selling BTC and allocating resources to AI and high-performance computing projects.

Antalpha reported first-quarter 2026 revenue growth while its total value of loans facilitated and supply-chain total value locked declined year over year. The company’s financing products are central to Bitplanet’s plan because mining requires upfront capital for equipment purchase, shipping, installation, hosting and power.

Bitplanet said hosting and joint-venture terms will determine how much mined BTC remains with the company after service fees and cost coverage. The firm indicated it will disclose deployed hashrate, power costs and monthly production as operations move from announcement to execution.

South Korea restricted corporate virtual-asset transactions in principle since 2017 and began reopening those rules in stages in 2025. Bitplanet’s plan links a Korean-listed company’s treasury strategy to overseas mining operations and will be subject to that regulatory context and investor scrutiny.