BitPlanet completes acquisition of 1,204 Bitcoin miners

KOSDAQ-listed BitPlanet has completed its acquisition of mining machines and is moving into BTC mining, The Asia Business Daily reported. In a filing on Sept. 9, the company said a tangible asset acquisition deal signed in June had been completed as planned. The total acquisition price was $9,999,228, or about 13.4 billion won. The 1,204 miners consist of 454 Bitmain "S21 XP Hydro" units and 750 "S21e XP Hydro" units, which have been deployed in Oman and Paraguay. The company plans to begin the initial phase of operations through a mix of outsourced operations and joint ventures, with a target of mining seven BTC per month and at least 84 BTC per year.