The domestic bitcoin virtual asset Digital Asset Treasury (DAT) corporations and KOSDAQ-listed BITPLANET(049470) said on the 10th that the transaction to acquire tangible-asset bitcoin mining machines signed in June was completed normally and that it is preparing to start operating the miners.
The miners acquired this time are a total of 1,204 units: 454 units of the latest "S21 XP Hydro" and 750 units of the "S21e XP Hydro" from Bitmain, an application-specific integrated circuit (ASIC) manufacturer that has secured the No. 1 market share in the global mining equipment market.
The acquired equipment is a high-performance model with a bitcoin network mining hash rate of up to 473 terahashes (TH/s) and excellent power efficiency in the 12–13 joules per terahash (J/T) range.
The total amount for the miner acquisition is $9,999,228 (about 13.4 billion won). With the payment for the mining equipment transaction completed, BITPLANET's noncurrent asset (about 62.3 billion won) increased 43.9% compared with before the asset transfer. Total asset (about 72.8 billion won) rose 14.6%.
The mining equipment has been deployed in Oman in the Middle East and Paraguay in South America, where electricity unit costs are low and supply is stable. BITPLANET aims to mine at least seven bitcoins per month, or 84 per year. The mined bitcoin will be recognized as sales in accounting. In addition to its existing system integration (SI) business, it has secured a new revenue source.
BITPLANET said it will expand into the artificial intelligence (AI) data center business going forward, based on the know-how it has accumulated operating this mining equipment, such as high-density power procurement and utilization rate optimization.
Lee Seong-hun, CEO of BITPLANET, said, "With not enough comparable cases in Korea, the acquisition schedule was partially adjusted as we verified each step—from contract terms to accounting, disclosures, and foreign exchange procedures—through legal and accounting counsel," and added, "Now that we have completed the procedures, we will prove it with stable facility operation and tangible operating results."