BitPlanet Turns Korea’s First Bitcoin Treasury Into a Bitcoin Producer

Hashprice spent most of spring and summer between $30 and $33 per PH/s per day, a level Hashrate Index calls breakeven or worse for many operators, before bouncing about 22% in a month as Bitcoin recovered into the high $70,000s. VanEck estimates May’s miner revenue fell 26% year on year, with incumbents selling coins and diverting power to AI. BitPlanet bought hashrate while the industry was offloading it, and at 12 to 13 J/TH its rigs would be among the last switched off if margins compress. Splitting the fleet between Omani gas and Paraguayan hydro hedges energy and political risk.

Timeline

• Sept 11, 2025: $50M consortium buyout of SGA completed; rebrand to BitPlanet
• Oct 26, 2025: First regulated purchase, 93 $BTC
• Feb 26, 2026: Treasury reaches 300 $BTC
• June 25, 2026: Antalpha MOU; ₩15 billion equipment plan announced
• Sept 9, 2026: Completion disclosed; 1,204 rigs deployed

What comes next

Eighty-four $BTC a year would lift holdings nearly 30% annually without touching capital markets, meaningful but far short of 10,000. A second phase is likely if the joint ventures perform, and the Sora consortium’s other listed names will watch the accounting as closely as the coin count.

Conclusion

BitPlanet has used a routine filing to answer the question hanging over every treasury company: what happens when buying at spot stops being enough. Mining is harder than accumulating, and hosting partners now matter as much as Bitcoin’s price. If the first 84 coins arrive below market cost, a 1997-vintage Korean software vendor will have shown Asia’s listed companies a second way to own Bitcoin.