Bitplanet Completes $50 Million Acquisition and Receives Capital Increase from UTXO Management and Kingsway Capital

Odaily Planet Daily reports that Bitplanet, South Korea's first institutional Bitcoin vault company, has announced the completion of its $50 million acquisition of SGA Co., Ltd., officially completing its management transition and rebranding. The transaction involves a 62% stake acquired from a consortium of investors including Sora Ventures, Parafi Capital, and KCGI, with additional investments totaling $10 million from UTXO Management and Kingsway Capital. Bitplanet aims to become one of the top ten global corporate Bitcoin holders and promote South Korea as a core hub for the international Bitcoin ecosystem.