Metaplanet Q1 2026: Revenue soars 251% despite Bitcoin loss

Metaplanet's Q1 2026 revenue jumped 251% to ¥3.08B, with operating profit up 282.5%. Despite a ¥114.5B net loss from Bitcoin impairment, holdings grew to 40,177 BTC and operational performance stayed strong.

Metaplanet reported a significant surge in first-quarter 2026 revenue, up 251% year-on-year to ¥3.08 billion. Operating profit also climbed 282.5% to ¥2.27 billion, driven by Bitcoin-based options strategies and hotel management activities. Despite robust operational performance and a 73.6% operating margin, the company recorded a net loss of ¥114.5 billion. This was primarily due to non-cash Bitcoin impairment charges following a 24% decline in Bitcoin prices during the quarter. Metaplanet expanded its Bitcoin holdings to 40,177 BTC—about 87% of all Bitcoin held by Japanese listed firms—acquiring 5,075 BTC in Q1 at an average price near $79,000. The company maintained its full-year 2026 guidance, projecting ¥16 billion in revenue and ¥11.4 billion in operating profit. Management emphasized these losses were accounting effects, not realized sales losses, and operational cash flow remained strong.