Metaplanet Generates $4M in Operating Profit in the First Quarter, Bitcoin-Based Income Strategies Drive Growth

Tokyo-listed investment firm Metaplanet (3350) generated 592 million yen ($4 million) in operating profit in the first quarter of 2025

Tokyo-listed investment firm Metaplanet (3350) posted an operating profit of 592 million yen ($4 million) in the first quarter of 2025, largely through bitcoin-based income strategies.

The company reported 877 million yen in revenue, with 88% being generated by option premium harvesting on bitcoin BTC$, as disclosed in its first quarter earnings release.

Metaplanet's bitcoin holdings increased by more than 5,000 BTC during the quarter to reach 6,796 BTC. The firm has now achieved 68% of its 10,000 BTC target a little over four months after announcing its bitcoin standard on April 8, 2024, according to the earnings statement.

This rapid pace of accumulation has propelled Metaplanet to the 11th-largest public company in terms of bitcoin holdings worldwide and the top in Asia. The company recently surpassed El Salvador in this ranking.

To fund its BTC accumulation, Metaplanet engaged in selling bonds, issuing equity, and deploying moving-strike stock warrants that will only be sold when the share price rises. In total, the company mobilized 86.1 billion yen from these capital-raising activities, making it the largest public equity issuer in Japan year-to-date.

Metaplanet's capital strategy is focused on channeling both operating cash flow and market-raised funds into bitcoin, aiming to maximize its BTC Yield, which measures bitcoin per fully diluted share. This figure saw a significant surge of 170% year-to-date.

Shares of Metaplanet on the Tokyo Stock Exchange closed lower on Tuesday. The investment firm saw its shares decline by 2.47%, reaching 593 yen ($4) each at the end of the trading session.

For the year to date, shares of Metaplanet are up 65.8%, while the price of BTC is up 8.45% over the same period.