Bitplanet, a DAT Company, Issues 7 Billion Won in CBs to Accelerate Bitcoin Mining

Bitplanet, a digital asset treasury (DAT) company, has officially launched its Bitcoin mining business.

On May 14, Bitplanet's board of directors resolved to issue convertible bonds (CB) worth 7 billion won. The issuance will be split into the 17th CB worth 5 billion won and the 18th CB worth 2 billion won. The funds raised will be used as capital for the Bitcoin mining business.

The 17th CB will be entirely allocated as facility funds for the purchase of Bitcoin mining equipment (ASIC) from Bitmain, the global market share leader. The 18th CB will be divided into 1 billion won for mining equipment procurement and 1 billion won for operating funds. The mining equipment will be deployed at overseas bases such as Oman in the Middle East and Paraguay in South America, where electricity costs are highly competitive.

The 18th CB marks the first domestic investment by a regulated financial institution in a DAT company. This was made possible as "IBKC-Wantedlab New Technology Investment Association No. 1," in which IBK Capital holds a 50% stake, participated as an underwriter in the CB issuance.

Bitplanet plans to expand partnerships within the global mining ecosystem. The company aims to build an AI infrastructure value chain encompassing Bitcoin mining, artificial intelligence data centers (AIDC), and graphic processing unit (GPU) distribution.

The subscription date for these CBs is June 9, with payment due on June 10. The conversion price is set at 723 won per share for both issuances. The coupon rate is 0.0%, the maturity interest rate is 2.0% per annum, and the maturity date is June 10, 2031. The conversion request period is from June 10, 2027, to May 10, 2031.

Lee Sunghoon, CEO of Bitplanet, stated, "We will generate stable mining profits based on Bitmain mining equipment, while continuously expanding new business collaborations with global partners."

This content was produced with the assistance of AI translation services.