Bitplanet Teams Up with Antalpha to Accelerate Bitcoin Mining

Bitplanet, a Digital Asset Treasury (DAT) company, is set to accelerate its Bitcoin mining business through a full-scale collaboration with Nasdaq-listed Antalpha and other partners.

Lee Seong-hoon, CEO of Bitplanet, is inspecting Bitcoin mining equipment. Bitplanet

On June 24, Bitplanet announced that it had signed a memorandum of understanding (MOU) for collaboration in Bitcoin mining operations with Antalpha and other partners in the Bitcoin mining ecosystem.

Through this partnership, Bitplanet will establish an international cooperative foundation for resources related to the Bitcoin mining supply chain and technical support. Antalpha is a fintech company focused on financial, technological, and risk management solutions for the Web3 industry and provides Bitcoin supply chain and margin lending services.

Additionally, Bitplanet will introduce Bitcoin mining equipment worth 15 billion won and will commence its mining business this month. The mining targets are set at more than 7 Bitcoins per month and over 80 Bitcoins annually.

The mining machines will be deployed in Oman in the Middle East and Paraguay in South America, where there are low electricity costs and a stable power environment. Bitplanet plans to enhance operational efficiency by utilizing an overseas consignment model that combines both consignment operation and joint venture (JV) methods.

Seonghun Lee, CEO of Bitplanet, stated, "Our collaboration with Antalpha is a signal that Bitplanet has officially entered the global BTC mining ecosystem, and it marks a significant milestone where the operational model we have consistently proposed is starting to translate into tangible business results."

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