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14/05/26 15:18 UTC-04

Metaplanet Reports $725.6 Million Loss and Explains the Reason

Japanese investment firm Metaplanet, one of the world’s largest corporate holders of Bitcoin, reported losses totaling 114.5 billion yen ($725.6 million) for the January–March quarter.

The company attributed the losses primarily to the decline in Bitcoin’s market price.

Company Improved Operational Performance Despite Losses

Despite the significant losses, Metaplanet reported strong revenue growth and improved operational performance.

Revenue increased by 251.1% year-over-year to 3.08 billion yen ($19.5 million).

Operating profit reached 2.3 billion yen ($14.4 million).

The company stated that Bitcoin options trading and its hotel business were the primary drivers of revenue growth.

Crypto Reserve Revaluation Caused Most of the Losses

Following the revaluation of its cryptocurrency reserves, the company recorded unrealized losses totaling 116.4 billion yen ($737.6 million).

Company representatives emphasized that the losses were primarily the result of short-term market volatility.

Metaplanet Continues Aggressive Bitcoin Accumulation

During the first quarter, Metaplanet purchased 5,075 BTC.

As of the end of March, the company held 40,177 BTC on its balance sheet.

According to Metaplanet, this represents approximately 87% of all Bitcoin held by publicly traded companies in Japan.

Globally, the company ranks as the third-largest corporate Bitcoin holder after Strategy and Twenty One Capital.

Company Plans to Continue Expanding Bitcoin Reserves

Metaplanet stated that it will continue increasing its Bitcoin reserves through equity issuance and debt financing.

This strategy includes access to a $500 million credit facility backed by cryptocurrency collateral.

The company maintained its full-year forecast unchanged:

  • Revenue target: 16 billion yen ($101.4 million)
  • Profit target: 11.4 billion yen ($72.3 million)

Earlier, Metaplanet also announced the issuance of 8 billion yen ($50 million) in bonds to finance additional Bitcoin purchases.

See also: "Banks Issue Alarmed Statements After Major Progress on the CLARITY Act Crypto Bill"

#Metaplanet #Losses

Editor: Alyona Nabok
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