Bitplanet, a South Korean system integrator and infrastructure builder, has signed a memorandum of understanding with Nasdaq-listed fintech Antalpha to launch Bitcoin mining operations this month. The agreement commits KRW 15 billion (roughly $10.8 million) to mining equipment deployed at colocation sites in Oman and Paraguay, regions chosen for lower electricity costs and stable power grids.
Antalpha operates a technology platform called Antalpha Prime that provides Bitcoin supply-chain and margin lending services to crypto firms. Through the partnership, Bitplanet gains access to Antalpha's global mining network, supply-chain resources, and technical support. The first phase targets output exceeding 7 BTC per month, or more than 80 BTC annually.
Unlike companies that buy Bitcoin outright on open markets, Bitplanet plans to mine its way into a corporate Bitcoin position. The strategy reflects a broader shift in how some companies acquire crypto holdings without relying on exchanges or custodians. Bitplanet intends to manage mined Bitcoin under what it calls a Digital Asset Treasury (DAT) model, which splits holdings across liquidity reserves, risk-hedging funds, and reinvestment capital.
Paul Lee, Bitplanet's CEO, framed the Antalpha deal as validation of the company's operating model. "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," Lee said in a statement.
Bitplanet operates beyond mining alone. The company builds AI energy infrastructure, distributes GPU hardware, and runs AI data centers. Adding a production-based Bitcoin acquisition channel extends its reach into the Web3 supply chain without the volatility baked into open-market purchases. The question facing any mining entrant is whether electricity arbitrage and hardware costs can sustain profitability as mining difficulty rises—a dynamic independent of any single miner's treasury management.