Metaplanet posts ¥104.6B Bitcoin impairment, forecasts 80% revenue jump

Beincrypto reports Tokyo-listed Bitcoin treasury company Metaplanet revised its FY2025 forecast on January 26, saying it recorded a ¥104.6 billion Bitcoin impairment loss while raising its operating profit guidance.

The company described the impairment as a non-cash accounting valuation adjustment and upgraded FY2025 revenue to ¥8.9 billion and operating profit to ¥6.29 billion; the impairment was recorded as a non-operating expense, producing a consolidated net loss of ¥76.6 billion. Metaplanet said its Bitcoin holdings rose to 35,102 BTC—about 20 times the prior year—BTC Yield reached 568%, and a ¥22.6 billion foreign exchange gain partly offset the Bitcoin loss, with a net decrease in Bitcoin NAV in fixed assets of roughly ¥82 billion. The company also diversified funding with a Series B perpetual convertible preferred stock issuance and a $500 million credit facility.

Metaplanet projects FY2026 revenue of ¥16 billion and operating profit of ¥11.4 billion, each roughly an 80% increase, with ¥15.6 billion expected from its Bitcoin Income Generation business; it said it would not provide ordinary-income or net-income guidance because Bitcoin-price forecasting is difficult. The results have been presented as a real-time stress test for the Digital Asset Treasury model, and the company will publish final FY2025 figures in its earnings report scheduled for February 16, 2026.

Key Topics

Crypto, Metaplanet, Bitcoin, Digital Asset Treasury, Btc Yield, Mercury