Metaplanet Revenue Skyrockets 738% as Bitcoin Standard Pivots Firm to Operational Profit

Known as "Asia's MicroStrategy," Tokyo-listed Metaplanet (3350) has announced a staggering 738% year-over-year sales rise for its fiscal

Metaplanet Revenue Skyrockets 738% as Bitcoin Standard Pivots Firm to Operational Profit

Quick overview

  • Metaplanet reported a remarkable 738% year-over-year sales increase for fiscal year 2025, driven primarily by its transformation into a Bitcoin revenue powerhouse.
  • The company's revenue surged to ¥8.9 billion ($58 million) largely due to its 'Bitcoin Income Generation' service, with Bitcoin options transactions being the main contributor.
  • Despite a consolidated net loss of ¥95 billion ($619 million) attributed to accounting adjustments, Metaplanet maintains a strong equity ratio of 90.7% and emphasizes that cash flows remain unaffected.
  • Metaplanet aims to control 210,000 BTC by 2027, representing about 1% of the total circulating supply, and has secured funding to support its aggressive Bitcoin accumulation strategy.

Known as “Asia’s MicroStrategy,” Tokyo-listed Metaplanet (3350) has announced a staggering 738% year-over-year sales rise for its fiscal year 2025. The increase comes after the business underwent a dramatic metamorphosis from a hotel operator to a Bitcoin revenue and treasury powerhouse, with the cryptocurrency currently accounting for about 95% of its overall sales.

Metaplanet Revenue Skyrockets 738% as Bitcoin Standard Pivots Firm to Operational Profit
Metaplanet’s Revenue Soars 738% as Bitcoin Becomes the Engine of Its Business

Bitcoin Income Business Becomes Primary Profit Engine

According to Metaplanet’s fiscal 2025 results report, which was made public on February 16, revenue increased to ¥8.9 billion ($58 million) from ¥1.06 billion ($6.9 million) the year before. The start of its “Bitcoin Income Generation” service in Q4 2024 was nearly the only factor driving this rise.

The majority of this revenue is generated from Bitcoin options transactions, notably the premiums collected from writing cash-secured puts. Operating profit increased by 1,695% as a result of this operational shift, reaching ¥6.29 billion ($41 million). By successfully converting Bitcoin’s high volatility into a steady cash flow stream, Metaplanet has lessened its reliance on conventional business sectors like media and hotels.

$665 Million Accounting Loss Masks Operational Strength

Metaplanet reported a consolidated net loss of ¥95 billion ($619 million) in spite of the record operational results. The business stressed that Japanese mark-to-market regulations are the main reason this loss is a non-cash accounting adjustment.

At year-end, the price of Bitcoin was close to $68,000, which was a substantial decline from its peak in late 2025. As a result, the corporation had to report an impairment loss of ¥102.2 billion ($665.8 million) on its holdings. The management pointed to a strong equity ratio of 90.7% and stated that this “paper loss” had no effect on the company’s cash flows or core business operations.

Accumulation Strategy: The Road to 1% of Global Supply

With its aggressive treasury expansion, Metaplanet’s holdings increased from 1,762 BTC at the end of 2024 to 35,102 BTC by the end of 2025. With this 1,892% rise, it now ranks fourth among public firms worldwide and is the largest corporate Bitcoin holder in Japan.

Despite recent market volatility, CEO Simon Gerovich has reiterated that the company will continue to follow its Bitcoin-native strategy. The company has even higher goals for its long-term roadmap:

  • 2026 Forecast: The company expects revenue to grow another 80% to ¥16 billion ($104 million).
  • The 1% Goal: Metaplanet aims to control 210,000 BTC (roughly 1% of the total circulating supply) by 2027.

The business recently approved a capital raise of up to $137 million and set up a $500 million credit facility to finance this objective, guaranteeing that it can keep accumulating Bitcoin even when the market declines.

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Technical Analysis and Outlook

Despite a 1,200% increase in 2025, Metaplanet’s stock is currently navigating a softening of “Digital Asset Treasury” (DAT) premiums across the industry. The company’s BTC Yield, which measures how much Bitcoin supports each diluted share, increased 568% in the last 12 months and is being keenly watched by analysts. The positive argument for Metaplanet is still dependent on how well it works as a Bitcoin accumulation machine, so long as the firm can keep buying Bitcoin at rates higher than share dilution.

ABOUT THE AUTHOR See More
Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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