metaplanet

📅 February 16 - Japan | Bitcoin volatility once again hit corporate balance sheets hard. The Japanese firm Metaplanet, focused on BTC treasury strategy, reported a net loss of 95 billion yen (approximately $619 million) in its fiscal year ending December 31, reversing the profits of the previous year.

📖Despite the hit to its results, Metaplanet emphasized that its balance sheet remains “robust.” With a capital ratio of 90.7%, it asserts that even in the event of a hypothetical 86% drop in the price of BTC, its liabilities and preferred stock would be fully covered.
At year-end, it reported 46.7 billion yen in liabilities ($304 million) and 458.5 billion yen in net assets ($2.99 ​​billion). Its bitcoin reserves were valued at 481.5 billion yen ($3.1 billion).
On the operational front, the figures tell a different story. Revenue for fiscal year 2025 reached 8.91 billion yen ($58 million), a 738% year-over-year increase, while operating profit grew 1,695% to 6.29 billion yen ($41 million).
The majority of this revenue came from bitcoin-related operations, particularly income from premiums on BTC options transactions.
Its treasury growth was even more aggressive. Metaplanet surpassed its target of 30,000 BTC and ended the year with 35,102 BTC, a 1,892% increase from the previous year's 1,762 BTC. This represents approximately 0.16% of the total bitcoin supply, positioning it as the fourth largest publicly traded company in terms of BTC reserves globally.
Although still far from the 714,644 BTC held by Strategy, the Japanese company has set an ambitious goal: to reach 210,000 BTC, equivalent to 1% of the total supply.

Topic Opinion:
Adopting an aggressive BTC accumulation strategy can boost operational growth, but it also amplifies accounting volatility.
💬 Will Metaplanet reach its goal of 210,000 BTC?

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#metaplanet #bitcoin #BTC #Investment #CryptoNews $BTC

Metaplanet Inc. delivered one of the most dramatic earnings reports of the season, combining triple-digit operational growth with a headline net loss tied directly to Bitcoin’s price volatility.

Key Takeaways
Metaplanet’s revenue surged 738% in FY2025, with operating profit jumping nearly 1,700% thanks to its Bitcoin Income model.A ¥95 billion net loss was driven by non-cash Bitcoin valuation declines, not core operations.The company holds 35,102 BTC and aims to dramatically expand its treasury, targeting 100,000 BTC by 2026. 
The Tokyo-listed company reported that revenue for fiscal year 2025 surged 738.3% year-over-year to ¥8.905 billion (around $58 million), as its newly established Bitcoin-focused income model became the dominant engine of the business.
Operating profit climbed even faster, rising 1,694.5% to ¥6.287 billion (approximately $40.8 million). However, despite the explosive operating performance, the company posted a net loss of roughly ¥95 billion ($619–$633 million).
The red ink was not driven by core operations. Instead, it stemmed from a non-cash valuation loss of about ¥102.2 billion ($660 million), reflecting the decline in Bitcoin’s market price at the fiscal year-end mark-to-market calculation.
Japan’s Largest Corporate Bitcoin Holder
As of December 31, 2025, Metaplanet held 35,102 BTC, making it the largest corporate Bitcoin holder in Japan. With Bitcoin currently trading near $70,000, the company’s treasury position remains a central pillar of its balance sheet and long-term strategy.
Management has made clear that volatility is part of the model. While accounting standards require unrealized losses to be recorded when prices fall, those losses can reverse just as quickly during price recoveries.
The Rise of the “Bitcoin Income” Model
Metaplanet’s transformation into what it calls a “Bitcoin Income” company is now nearly complete. Roughly 95% of total revenue is derived from Bitcoin-linked activities rather than traditional operations.
At the core of this strategy is an options-writing approach. The company primarily sells cash-secured put options, collecting upfront premiums while committing to purchase additional Bitcoin at predetermined strike prices if markets decline.
This premium-harvesting strategy generated about $58.2 million in revenue during fiscal 2025 alone. Management measures performance using a metric called “BTC Yield per diluted share,” which reportedly increased 568% over the past year.
Aggressive 2026 Outlook
Looking ahead, Metaplanet issued ambitious guidance for fiscal year 2026.
The company projects revenue of ¥16 billion (around $103–$104.6 million) and operating profit of ¥11.4 billion ($73–$74.5 million), representing an expected 81.3% increase in operating income.
Beyond short-term growth, management has outlined a bold long-term objective: accumulating approximately 1% of Bitcoin’s total global supply - or around 210,000 BTC - by 2027.
Capital Raise Fuels “555 Million Plan”
To accelerate its accumulation strategy, Metaplanet recently launched a substantial capital raise tied to its so-called “555 Million Plan,” targeting 100,000 BTC by the end of 2026.
The company secured up to ¥21 billion (around $137 million) through a third-party allotment to overseas investors. The structure included:
24.53 million new common shares issued at ¥499 per share, raising about ¥12.2 billion upfront
159,440 stock acquisition rights (warrants) priced at ¥547, exercisable until February 15, 2027
Proceeds are earmarked primarily for direct Bitcoin purchases (¥14 billion), partial repayment of a $500 million credit facility (¥5.19 billion), and expansion of its Bitcoin-Income derivatives and options operations (¥1.56 billion).
Balancing Volatility and Scale
Metaplanet’s results underscore the dual nature of corporate Bitcoin treasury strategies. On one side, the company is delivering explosive revenue and operating growth. On the other, accounting volatility can produce massive swings in reported net income.
With Bitcoin trading near $70,000 and the company aggressively expanding both its treasury and derivatives activities, 2026 is shaping up to be a defining year for Japan’s most prominent corporate Bitcoin accumulator.
#metaplanet

💵📊 MetaPlanet Q4 Results:

🔴 $619M net loss (unrealized BTC losses)
✅ Revenue surged 738% to $58M
🪙 Now holding 35,102 BTC

The Story: Paper losses from BTC volatility, but they're still HODLing strong. Revenue growth shows the core business is thriving.

💭 Is the corporate Bitcoin treasury strategy worth the volatility?

#bitcoin #MarketRebound #BTC #MetaPlanet #Crypto

Metaplanet is a Japanese company that changed its focus to Bitcoin.
Now, their main business is:
1. Hold Bitcoin
2. Make money from Bitcoin trading
And in 2025, this new strategy made their revenue and profit skyrocket.
💰 How much did they earn?
• Revenue (money coming in): $59.4 million → 738% increase from last year
• Profit (money left after costs): $41.9 million → 1,694% increase
Most of this money came from selling Bitcoin options — basically making extra cash from Bitcoin without selling it.

🟠 How much Bitcoin do they have?
• End of 2025: 35,102 BTC
• End of 2024: 1,762 BTC
That’s a huge jump, making them the 4th biggest public Bitcoin holder in the world.
❗ Why do they show a loss?
They showed an unrealized loss of $681 million.
• “Unrealized loss” = the market price of Bitcoin went down temporarily
• They didn’t sell the Bitcoin, so it’s not real money lost
• Company ignores this in their “core profit” because they focus on actual cash coming in
📈 BTC Yield – what is it?
They measure how much Bitcoin each share of the company is worth.
• In 2025, it went up 568% → every share is now tied to a lot more Bitcoin than last year
💸 Money coming in
• They raised $3.45 billion from investors in 2025
• In 2024, they raised only $66 million
Investors are giving them money to buy more Bitcoin.
🎯 Bottom line
Metaplanet is basically acting like a public Bitcoin fund:
1. Raise money from investors
2. Buy more Bitcoin
3. Earn extra cash from Bitcoin trades
4. Buy even more Bitcoin
5. Hold long-term
Short-term market ups and downs don’t bother them — they are playing the long game.

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$BTC