Bitplanet Signs MOU With Antalpha to Deploy 15 Billion Won in Bitcoin Mining Equipment

South Korean bitcoin treasury company Bitplanet has signed a memorandum of understanding (MOU) with Nasdaq-listed Antalpha and its partners to introduce 15 billion won worth of bitcoin mining equipment and begin full-scale mining operations starting this month. According to Foresight News, the report said mined bitcoin will be recognized as operating income and managed as a long-term financial asset. Under the plan, first-phase equipment is expected to produce more than 7 BTC per month and over 80 BTC per year, depending on equipment utilization and electricity prices. The mining equipment will be deployed in overseas locations with competitive power costs, including Oman and Paraguay, using an offshore hosting and joint-venture operating model.