Metaplanet Q1 Operating Profit Rises as Bitcoin Loss Widens
Cointelegraph
Metaplanet's Q1 operating profit surged due to Bitcoin option income, but widening Bitcoin valuation losses led to a significant ordinary loss.Summary
Metaplanet reported a strong first-quarter operating profit of 2.27 billion Japanese yen, driven by a surge in Bitcoin option income that more than tripled revenue. However, this was overshadowed by an ordinary loss of around $728 million, primarily due to non-cash valuation losses from a decline in Bitcoin's price during the quarter. The company's Bitcoin holdings increased to 40,177 BTC, making it the third-largest publicly listed Bitcoin treasury. Despite the net loss, Metaplanet maintained its full-year outlook, citing Bitcoin price sensitivity for not providing ordinary or net income guidance.
(Source：Cointelegraph)