Metaplanet Sees 738% Revenue Surge with Bitcoin Driving 95% Income

Japanese publicly traded company Metaplanet has experienced a dramatic surge in its revenue following a strategic pivot toward Bitcoin integration, where the leading cryptocurrency now dominates almost the entirety of its operational activities.

In its fiscal year 2025 earnings report, the company detailed a remarkable escalation in revenue, rising to 8.9 billion Japanese yen, equivalent to approximately $58 million, compared to just 1.06 billion yen, or about $7 million, in the previous year. This represents an astonishing 738% increase year-over-year. The impressive growth came on the heels of initiating its Bitcoin income operations.

The firm emphasized in its report, “We introduced the Bitcoin Income business during the fourth quarter of 2024. From that point forward, this initiative has emerged as our main revenue generator and is projected to continue serving as a fundamental pillar for ongoing profit expansion.”

A detailed breakdown of revenue sources reveals that approximately 95% of the total income stemmed from Bitcoin-related activities. These earnings were predominantly derived from premium income associated with Bitcoin options transactions. Metaplanet only ventured into this segment toward the end of 2024, effectively supplanting its conventional operations in areas like hotels and media, which had previously formed the backbone of its business model.

Bitcoin Price Decline Leads to Net Loss for Metaplanet

Despite achieving an operating profit of around $40 million, Metaplanet ultimately reported a substantial net loss amounting to roughly $619 million. This downturn was primarily attributed to stringent accounting standards. Given the company’s significant Bitcoin reserves, it is required to account for fluctuations in the cryptocurrency’s market value directly on its balance sheets. A valuation decline exceeding $664 million effectively offset the operating gains recorded throughout the year.

Parallel to this business transformation, Metaplanet has pursued an aggressive accumulation strategy for Bitcoin. Its holdings expanded dramatically from 1,762 BTC at the close of 2024 to 35,102 BTC by the conclusion of 2025, positioning it as Japan’s foremost corporate holder of the asset. Furthermore, since embracing this treasury strategy, the company has successfully secured over $3.2 billion in additional capital.

Metaplanet characterizes its approach as a long-term Bitcoin treasury strategy, with the explicit goal of “acquiring and retaining Bitcoin on a permanent basis to safeguard against the dilution of fiat currencies and to capitalize on the asset’s long-term appreciation in value.”

Looking ahead, the company anticipates sustained momentum into the following year, with projections for revenue reaching approximately $104 million and operating profit climbing to about $74 million. This optimistic outlook underscores confidence in the enduring viability of its Bitcoin-centric model.

Metaplanet CEO Remains Committed to Bitcoin Strategy Amid Market Volatility

Just earlier this month, Metaplanet CEO Simon Gerovich publicly reaffirmed the company’s dedication to its Bitcoin-focused trajectory, even amidst a pronounced downturn across the wider cryptocurrency market. Through a statement on X, he made it clear that there would be no deviation from their chosen path, regardless of the recent market turbulence and price swings.

In the preceding month, Metaplanet took further steps to bolster its position by approving a capital raise overseas, potentially up to $137 million. This infusion is earmarked for augmenting its Bitcoin reserves and alleviating existing debt burdens, thereby strengthening its financial footing for continued expansion in the digital asset space.

Metaplanet’s bold transition exemplifies a growing trend among forward-thinking corporations, particularly in Asia, to leverage Bitcoin not merely as a speculative investment but as a cornerstone of their treasury management. By generating the bulk of its income through sophisticated Bitcoin options strategies, the company has demonstrated how cryptocurrency can supplant traditional revenue streams, even if it introduces volatility tied to market pricing.

The net loss, while stark, is framed by the company as a non-cash accounting artifact rather than a reflection of operational weakness. As Bitcoin’s price stabilizes or rebounds, Metaplanet anticipates that its treasury holdings will contribute positively to future financial statements, potentially unlocking substantial unrealized gains.

This strategic evolution positions Metaplanet uniquely in Japan’s corporate landscape, where regulatory clarity and growing institutional interest in cryptocurrencies are fostering an environment ripe for such innovations. Investors and analysts will be closely monitoring whether this model can deliver consistent profitability beyond the initial growth phase, especially as global economic factors influence Bitcoin’s trajectory.