Metaplanet reverses losses and makes ¥11 billion profit with Bitcoin strategy

• Metaplanet records highest quarterly profit in its history
• Company accumulates 18.113 BTC with a target of 210 by 2027
• Prefs Plan seeks to raise US$20 billion for Bitcoin purchases

Metaplanet, a Japanese company focused on Bitcoin, announced the most profitable quarter in its history , driven by the strong performance of cryptocurrency and the strategic expansion of its treasury. In the second quarter of 2025, net income reached ¥11,1 billion (US$75,1 million), reversing the ¥5 billion loss recorded in the same period of the previous year.

Ordinary profit also showed a significant increase, reaching ¥17,4 billion (US$117,8 million), compared to a loss of ¥6,9 billion in the second quarter of 2024. Quarterly revenue grew 41% from the previous quarter to ¥1,239 billion (US$8,4 million), while gross profit increased 38% to ¥816 million (US$5,5 million).

The highlight was the substantial increase in Bitcoin reserves. As of August 12, Metaplanet had accumulated 18.113 BTC, 16.351 of which were acquired in 2025 alone. These holdings generated unrealized profits exceeding ¥55 billion (US$342 million). For CEO Simon Gerovich, this was "the strongest quarter in Metaplanet's history," a result directly linked to the Bitcoin accumulation strategy.

This is the strongest quarter in Metaplanet's history. https://t.co/AxXxLLdgxc

— Simon Gerovich (@gerovich) August 13, 2025

The company maintains an ambitious goal of acquiring 210.000 BTC, about 1% of the cryptocurrency's total supply, by 2027. The plan requires approximately $20 billion in financing, which will be raised through common and preferred stock offerings.

In this context, Metaplanet announced the launch of the Metaplanet Prefs program, consisting of perpetual preferred shares backed by Bitcoin. The goal is to attract some of the dormant resources in the Japanese market, which totals approximately US$14,9 trillion in household wealth, including US$7,6 trillion in bank deposits and US$9,5 trillion in the fixed-income market.

The project aims to issue BTC-linked instruments with different maturities and rates, targeting the Japanese fixed-income market. According to the company, this initiative represents the next phase of its mission to digitally transform the Japanese capital market, leveraging its strong balance sheet and credit profile to offer innovative products with competitive returns.

The model is similar to the financing strategy used by Strategy (formerly MicroStrategy), which also uses preferred instruments to expand its Bitcoin reserves.