Metaplanet posts $700M Bitcoin loss, raises 2025 outlook
4.8 Investments Metaplanet posted a $679–$700M Bitcoin impairment loss for 2025 but raised revenue and profit forecasts. Despite the non-cash loss, its Bitcoin strategy and holdings remain strong.
Metaplanet Inc., a Tokyo-listed Bitcoin treasury company, reported a significant impairment loss on its Bitcoin holdings for fiscal year 2025, estimated between $679 million and $700 million due to declining Bitcoin prices. Despite this non-cash loss, which does not affect cash flow or daily operations, the company’s business performance surpassed expectations, largely driven by its Bitcoin income generation business utilizing options strategies. Year-over-year, Metaplanet increased its Bitcoin holdings from 1,762 BTC to 35,102 BTC. The company also raised its revenue forecast to ¥8.9 billion and its operating profit estimate to ¥6.3 billion for 2025. However, its stock dropped by at least 7% following the financial report, as investors reacted to the impairment loss and the absence of new Bitcoin purchases planned for 2026. Management emphasized that its long-term Bitcoin strategy remains unchanged and announced a revision of its treasury management approach. Final audited results are expected in February 2026.
