Metaplanet targets up to $137 million equity raise to fund bitcoin treasury expansion
Metaplanet announced a potential equity raise up to $137 million to expand its bitcoin treasury and support its Bitcoin Income business.Summary
Metaplanet CEO Simon Gerovich stated the company has completed a 12.2 billion yen ($79.5 million) share issuance and could raise a total of up to 21 billion yen (about $137 million) through this financing, which includes one-year stock acquisition rights.
The primary use of the capital is to acquire additional bitcoin, with approximately 14 billion yen allocated for this purpose between February 2026 and February 2027, aiming to strengthen its financial foundation against fiat depreciation. Other allocations include 1.556 billion yen for its Bitcoin Income business, which uses derivatives on BTC, and 5.186 billion yen for partial repayment of borrowings under a $500 million credit facility.
The Tokyo-listed firm, which pivoted to a bitcoin treasury model in April 2024, aims to maximize bitcoin holdings per share despite booking a significant non-operating impairment loss of 104.6 billion yen ($680 million) for fiscal 2025 due to bitcoin price volatility.
(Source：The Block)