Metaplanet posts $621M loss after Bitcoin valuation swing
Metaplanet reported a $621 million net loss for FY2025, driven by a $668 million Bitcoin valuation adjustment despite strong operating income.Summary
Metaplanet recorded a substantial $621 million net loss for fiscal year 2025, primarily due to a $668 million loss from Bitcoin valuation adjustments, which overshadowed significant operational success. The company achieved approximately $58 million in revenue, marking a 738% year-over-year increase, and posted an operating profit of about $41 million. This deficit is a result of mark-to-market accounting rather than realized cash flow issues. As of December 31, 2025, Metaplanet held 35,102 BTC, making it the fourth-largest public Bitcoin holder globally. However, based on an average acquisition cost around $107,000 per BTC, the company faces an estimated 37% drawdown on its current holdings valued near $68,000 per coin. Due to ongoing Bitcoin volatility, Metaplanet will not issue net income forecasts but projects 2026 revenue of $105 million and operating profit of $75 million.
(Source：Crypto Briefing)