Metaplanet sees $680 million in unrealized losses on bitcoin holdings in 2025

Japanese bitcoin treasury firm Metaplanet reported a 104.6 billion yen ($680 million) impairment loss on its Bitcoin holdings due to market downturn, booked as a non-operating expense with no cash flow impact. This is expected to result in a consolidated ordinary loss of 98.56 billion yen ($640 million) for the fiscal year ending December 2025, with final results due February 16. Despite the accounting volatility, the company affirmed its medium-to-long-term BTC accumulation strategy remains on track, noting it held 35,102 BTC by year-end 2025. Conversely, Metaplanet revised its full-year 2025 revenue and operating income forecasts upward, driven by stronger-than-expected performance in its bitcoin income generation business utilizing derivatives, and growth from new funding sources like preferred stock issuance and a credit facility. The company forecasts significant revenue and operating income growth for fiscal 2026.

(Source：The Block)