Bitplanet Inc. has accumulated 300 BTC through a structured purchase program, positioning the South Korea-listed company among the top 20 corporate Bitcoin holders in Asia.
The company, backed by Sora Ventures, began building its BTC treasury in the fourth quarter of 2025. Its most recent purchases were carried out in phases between Feb. 23 and Feb. 26 via Upbit, one of South Korea's largest cryptocurrency exchanges.
The BTC will be held with a professional custody provider, the company told Bitcoin Magazine.
Chief Executive Paul Lee said Bitplanet is focused on more than balance sheet exposure. “We are not simply accumulating Bitcoin,” Lee said in a statement. He added that the company plans to explore operational strategies that could contribute to revenue generation and cash flow over time, linking BTC treasury management with artificial intelligence computing initiatives.
Bitplanet said it views Asia as a key driver of the next phase of digital asset treasury adoption and aims to position itself as a transparent, institutional-grade corporate holder of Bitcoin.
The company said it may expand its holdings further, subject to market conditions, regulatory developments, and financing availability.
Corporate bitcoin strain
The firm counts several digital asset treasury investors among its backers, including Simon Gerovich of Metaplanet, as well as AsiaStrategy, UTXO Management, KCGI, Kingsway Capital, and ParaFi Capital.
Metaplanet did post a net loss of 95 billion yen ($619 million) for fiscal 2025, driven by a 102.2 billion yen ($665.8 million) valuation decline on its bitcoin holdings.
The disclosure marks the latest example of a corporate bitcoin buyer facing pressure as the cryptocurrency's price slid from record highs in October.
The company closed the year with 35,102 BTC, valued at approximately $2.4 billion, making Metaplanet the fourth-largest public corporate BTC holder globally, behind Strategy.
Since it began accumulating BTC 21 months ago, Metaplanet has spent nearly $3.8 billion, averaging $107,000 per coin, according to data from two weeks ago.
Last quarter, when Sora Ventures unveiled its plans at Taipei Blockchain Week, the firm said it plans to purchase $1 billion in BTC within six months, backed by a $200 million initial commitment from regional partners.
Today, Bitcoin (BTC) is trading near $65,000, drifting lower from mid-week highs near $70,000 amid persistent selling pressure across crypto markets.