Bitplanet enters bitcoin mining with Nasdaq-listed Ant Alpha

Bitplanet, a South Korean digital asset treasury company, is moving into bitcoin mining.

The company signed a strategic MOU with partners including Ant Alpha, a Nasdaq-listed fintech firm, to cooperate on bitcoin mining operations, Bitplanet announced Wednesday. Under the agreement, Bitplanet will invest 15 billion won ($9.76 million) in mining equipment and begin full-scale mining operations this month.

Through the partnership, the company plans to tap overseas mining infrastructure and technical support networks. The equipment will be deployed abroad — in Oman in the Middle East and Paraguay in South America — based on power costs and operating conditions.

Operations will combine overseas contract management and joint venture arrangements. The company said it aims to build a sustainable revenue structure by managing electricity costs, equipment utilization and operational efficiency in an integrated manner.

With the first batch of equipment up and running, Bitplanet is targeting output of more than 7 BTC per month and more than 80 BTC per year. Because mined bitcoin is recognized as operating revenue under accounting standards, the company expects mining to add a new sales stream alongside its existing systems integration business.

Mined bitcoin will also be classified as a long-term financial asset on the company's books. Bitplanet said it plans to allocate the holdings across liquidity reserves, risk hedging funds and reinvestment capital.

"The partnership with Ant Alpha marks Bitplanet's entry into the global bitcoin mining ecosystem," CEO Lee Seong-hun said. "We will continue to expand the scope of cooperation in bitcoin mining, digital asset infrastructure and related financial services."

Meanwhile, Lee was the only South Korean speaker at Bitcoin 2026 Las Vegas, a global digital asset conference, in April. At a panel discussion titled "What Makes a Bitcoin Treasury Company Successful?" he said revenue-generating businesses are critical in South Korea, where leverage-based flywheel strategies are not viable.