Metaplanet posts $619 million net loss on bitcoin valuation as holdings climb to 35,102 BTC

Tokyo-based bitcoin treasury company Metaplanet recorded a net loss of 95 billion yen ($619 million) for the fiscal year ended December 31, a sharp reversal from the previous year's net income. This loss was primarily driven by a 102.2 billion yen ($665.8 million) valuation loss on its bitcoin holdings, which the company treats as a non-operating expense. Despite the bottom-line volatility, Metaplanet maintained a robust balance sheet, with an equity ratio of 90.7%. Operationally, the company saw massive growth: revenue surged 738% to 8.91 billion yen ($58 million), and operating profit increased by 1,695% to 6.29 billion yen ($41 million), largely fueled by bitcoin-related operations like option premium income. Metaplanet exceeded its BTC target, ending the year with 35,102 BTC, making it the fourth-largest public holder globally, and set a long-term goal of acquiring 210,000 BTC. For FY2026, the company forecasts continued operational growth but will not provide net income guidance due to bitcoin price volatility.

(Source：The Block)