Metaplanet reported a ¥114.5 billion (round $725.6 million) web loss within the first quarter of fiscal yr 2026, as declining Bitcoin costs led to large accounting valuation losses on its holdings.
The corporate reported an odd lack of ¥114.9 billion ($728 million), largely pushed by ¥116.3 billion ($736 million) in Bitcoin valuation losses recorded throughout the quarter.
Metaplanet Quarterly Loss
Regardless of the losses, Metaplanet posted sturdy working progress. Its web gross sales rose 251.1% year-over-year to ¥3.08 billion ($19 million), and its working revenue elevated 282.5% to ¥2.27 billion ($14.3 million). Income from its Bitcoin Revenue Era enterprise, which incorporates choice premium methods tied to BTC derivatives, rose sharply to ¥2.54 billion.
Metaplanet’s Bitcoin holdings elevated to 40,177 BTC by the top of March 2026, up from 35,102 BTC on the finish of December 2025. It has managed to retain its place as the most important Bitcoin-holding listed firm exterior america, in accordance with the submitting.
Throughout the quarter, the corporate continued elevating capital by way of widespread share issuances, most well-liked shares, inventory acquisition rights, and Bitcoin-backed credit score amenities to assist further BTC purchases.
Metaplanet additionally disclosed that it secured a $500 million Bitcoin-collateralized credit score facility and had drawn $302 million beneath the association as of Could 13, 2026. Complete belongings fell to ¥466.7 billion on the finish of March from ¥505.3 billion on the finish of 2025, primarily as a consequence of decrease Bitcoin valuations.
“The Firm will proceed to build up Bitcoin, develop Bitcoin per share, and allocate capital with self-discipline. Over time, it intends to develop financing capabilities, working companies, and institutional relationships that make its Bitcoin place extra productive and sturdy. This work sits inside a bigger shift in how cash and capital markets are organized. The Firm intends to contribute to the event of Japan’s digital capital markets.”
Metaplanet’s Disclosure Practices Controversy
The outcomes come as the corporate faces criticism on-line over its Bitcoin acquisition technique and disclosure practices. Earlier this yr, CEO Simon Gerovich defended the corporate’s technique whereas explaining that each one Bitcoin purchases, pockets addresses, and borrowing preparations had been disclosed in actual time.
Gerovich additionally stated the corporate’s choices technique was aimed toward buying BTC beneath spot costs by way of premium earnings moderately than speculating on short-term value actions.
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