TL;DR
- Revenue Surge: Metaplanet posted a 738% revenue jump to 8.9 billion yen after launching its Bitcoin Income business, which quickly became its main source of growth.
- BTC Dominance: About 95% of total income came from Bitcoin‑related operations, primarily premium revenue from BTC options transactions introduced in late 2024.
- Net Loss Impact: Despite $40 million in operating profit, the company recorded a $619 million net loss due to a $664 million valuation drop on its expanding Bitcoin holdings.
Metaplanet closed its fiscal year with a dramatic shift in its financial profile, driven almost entirely by its pivot toward Bitcoin. The company reported a sharp rise in revenue and a sizable operating profit, yet its bottom line remained negative due to the impact of Bitcoin’s price volatility on its balance sheet. The earnings report highlights how fully the firm has embraced its new identity as a Bitcoin‑centric enterprise.
Bitcoin Income Operations Drive Explosive Revenue Growth
The company’s revenue soared to 8.9 billion yen, or about $58 million, up from 1.06 billion yen, or roughly $7 million, in the previous fiscal year. This 738% increase followed the launch of its Bitcoin Income business in Q4 2024. Metaplanet stated that this segment has quickly become its primary source of revenue and is expected to remain central to its long‑term strategy. The shift marks a departure from its earlier focus on hotel and media operations.
A breakdown of the results shows that about 95% of Metaplanet’s revenue came from Bitcoin‑related operations. Most of this income was generated through premium revenue from BTC options transactions. The company only began this line of business in late 2024, yet it has already overtaken all legacy segments. The rapid transition underscores how aggressively Metaplanet has repositioned itself around digital assets.
Operating Profit Rises but Net Loss Reflects BTC Valuation Drop
Metaplanet reported about $40 million in operating profit, but its net loss reached roughly $619 million. The company attributed the loss to accounting rules requiring it to mark Bitcoin holdings to market. A valuation decline of more than $664 million erased the year’s operating gains. Despite the loss, the firm emphasized that the accounting impact does not alter its long‑term Bitcoin strategy.
The company increased its Bitcoin reserves from 1,762 BTC at the end of 2024 to 35,102 BTC by the end of 2025. It has raised more than $3.2 billion to support this approach and recently approved an overseas capital raise of up to $137 million. CEO Simon Gerovich reaffirmed that the firm will maintain its Bitcoin‑focused model despite market volatility.
