Metaplanet posts FY2025 loss as Bitcoin unrealized losses top $1 billion

Tokyo-based Metaplanet released its fiscal 2025 results, reporting revenue of 8.9 billion yen, a 738% year-over-year increase driven by its Bitcoin income business, which generated roughly 95% of total revenue. Operating profit rose to 6.28 billion yen, a 1,694.5% jump, while total assets climbed from 30.3 billion yen to 505.3 billion yen and shareholders grew from 47,200 to around 216,500.

Despite strong operational performance, the company posted a net loss of 95 billion yen after recording net income of 4.44 billion yen in 2024. A non-cash valuation loss of 102.2 billion yen ($667.52 million) on its Bitcoin holdings was the primary driver of the deficit.

Metaplanet holds 35,102 BTC, up from 1,762 at the end of 2024, making it Japan’s largest corporate Bitcoin holder and the fourth-largest publicly listed corporate holder globally. With an average acquisition cost of $107,716 per BTC while Bitcoin trades at $68,821, the position translates into approximately $1.35 billion in unrealized losses.

Japan, Tokyo

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