Bitplanet Inc. has accumulated 300 BTC through a structured purchase program, placing the South Korean listed company among the top 20 Bitcoin holders in Asia.
The company, backed by Sora Ventures, began building its BTC vault in the fourth quarter of 2025. Its latest purchases were made in phases between February 23 and February 26 via Upbit, one of South Korea’s largest cryptocurrency exchanges.
BTC will be held with a professional custody provider, the company said Bitcoin Magazine.
CEO Paul Lee said Bitplanet is focused on more than balance sheet exposure. “We don’t just accumulate Bitcoin,” Lee said in a statement. He added that the company plans to explore operational strategies that can 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 adoption and aims to position itself as a transparent, institutional-grade business holder of Bitcoin.
The company said it may expand its holdings further, depending on market conditions, regulatory developments and availability of financing.
Corporate bitcoin strain
The firm counts several treasury digital asset investors among its backers, including Simon Gerovich of Metaplanet, as well as AsiaStrategy, UTXO Management, KCGI, Kingsway Capital and ParaFi Capital.
Metaplanet posted a net loss of 95 billion yen ($619 million) for fiscal 2025, driven by a 102.2 billion yen ($665.8 million) decline in the valuation of its bitcoin holdings.
The disclosure marks the latest example of a corporate bitcoin buyer facing pressure as the cryptocurrency’s price fell from record highs in October.
The company ended the year with 35,102 BTC, worth approximately $2.4 billion, making Metaplanet the fourth largest public company BTC holder globally, behind Strategy.
Since it began accumulating BTC 21 months ago, Metaplanet has spent nearly $3.8 billion, an average of $107,000 per coin, according to data from two weeks ago.
Last quarter, when Sora Ventures revealed its plans at Taipei Blockchain Week, the firm said it plans to buy $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, sliding lower from mid-week near $70,000 amid sustained selling pressure across crypto markets.