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BTC BitPlanet transforms South Korea's first Bitcoin vault into a Bitcoin producer
Core Points
BitPlanet acquired 1,204 Bitmain water-cooled mining machines for US$9,999,228 (approximately 13.4 billion won), which are currently in use in Oman and Paraguay.
With current network difficulties, the cluster has a computing power of 0.86 EH/s, and its monthly production may be close to twice its target of 7 bitcoins; the guidance data given by the company has deducted relevant costs.
As South Korea's first regulated bitcoin vault company, BitPlanet is shifting from buying spot goods to producing bitcoins and counting the BTC it mines into revenue.
Why vault companies stopped buying cash
The growth rate of corporate Bitcoin vaults depends only on how quickly they raise funds and buy them in the market. BitPlanet (formerly SGA Co., Acquired by a consortium led by Sora Ventures a year ago this week) held 300 bitcoins at the last count, against its ambitious goal of 10,000. The filing filed Wednesday added a second growth engine: Bitcoin mined will be recognized as revenue. CEO Lee Sung-hoon said that due to the lack of domestic precedents, external lawyers and accountants were needed to participate in contracts, disclosures and currency procedures. Other KOSDAQ listed companies may follow this model.
Detailed explanation of cluster data
The cluster consists of 454 S21XP Hydro units (473 TH/s) and 750 S21e XP Hydro units (860 TH/s), with a power of approximately 860 PH/s, accounting for approximately 0.09% of the power of a network operating at a speed close to 930 EH/s. At the current difficulty level, if you keep running at full capacity, monthly production can reach nearly 13 bitcoins. BitPlanet gave a guideline of 7 pieces. The gap may reflect the impact of custody fees, joint venture shares and downtime: management cited net output data.
The Hashprice stayed in the range of $30 to $33 per PH/s per day for most of the spring and summer, a level where the Hasrate Index believes many operators break even or worse, until Bitcoin rebounded to a high of more than $70,000, and the hash price rebounded by about 22% in a month. VanEck estimates that miners 'income fell 26% year-on-year in May, as established operators are selling Bitcoin and diverting power resources to artificial intelligence. BitPlanet was bought when the industry was selling computing power, and its mining machine energy consumption is 12 to 13 J/TH. If profit margins are compressed, these equipment will be the last batch to be eliminated. Spreading clusters between Oman natural gas and Paraguay hydropower can help hedge energy and political risks.
Timeline
- September 11, 2025: Completed the US$50 million consortium's acquisition of SGA; renamed BitPlanet
- October 26, 2025: First regulated purchase, purchased 93 BTC units
- February 26, 2026: The treasury size reaches 300 BTC
- June 25, 2026: Antalpha signed a memorandum of understanding; announced a 15 billion won equipment plan
- September 9, 2026: Disclosure of completion; deployment of 1,204 mining machines
Future outlook
84 bitcoins per year will increase positions by nearly 30% annually without having to touch the capital markets. This achievement is of great significance, but there is still a gap between the goal of 10,000 pieces. If the joint venture is doing well, there may be a second phase plan, and other listed companies under the Sora consortium will also pay close attention to its accounting treatment rather than just the number of coins.
Conclusion
BitPlanet answers the question that troubles all vault companies with a regular document: What to do when buying spot in the market is no longer enough? Mining is more challenging than accumulation, and the importance of hosting partners is now as critical as the price of Bitcoin. If the cost of obtaining the first 84 bitcoins is lower than the market price, the South Korean software provider founded in 1997 will show Asian listed companies a second way to own bitcoins.
