Japan-based Metaplanet announced its financial results for the 2025 fiscal year. While the company made a name for itself with its Bitcoin-focused growth moves, it completed the reporting period with a net loss of 619 million dollars. The main reason for this loss is the non-cash impairment of $665.8 million in the Bitcoin portfolio. Metaplanet, headquartered in Tokyo, has recently come to the fore with its aggressive investment strategy towards Bitcoin.
Operational Strengthening and Revenue Increase
In 2025, Metaplanet’s revenue reached $58 million, a significant jump of 738 percent. Operating profit rose to $40.8 million, a seventeen-fold increase. During this period, approximately 95 percent of the company’s total revenue was generated from Bitcoin-related activities. In particular, premium income from Bitcoin options constituted the company’s main source of growth.
Bitcoin Existence and Market Changes
By the end of 2025, the amount of Bitcoin held by Metaplanet increased to 35,102. The company, which held 1,762 BTC a year ago, thus became Japan’s largest institutional Bitcoin holder. On February 16, 2026, the company’s shares traded at $2.17, reaching a total market capitalization of approximately $2.53 billion. However, the share price is down more than 60 percent from six months ago. This is mostly attributed to the volatility in the Bitcoin price.
Valuation Loss and Accounting Impact
The company’s Bitcoin portfolio has approximately $1.2 billion in unrealized losses as the market price hovers around $68,550. Although these losses did not require a cash outflow, they seriously affected the profit and loss statement according to international financial reporting standards. This accounting practice was the determining factor behind the company’s loss statement.
2026 Goals and Strategic Plan
Metaplanet also announced its new targets for 2026. It increased its revenue expectation to 104 million dollars and operating profit expectation to 74 million dollars. It also aims to reach 100,000 BTC by the end of 2026 and to accumulate 210,000 BTC, which corresponds to 1 percent of the total supply of Bitcoin, by 2027.
Management emphasized that although the company’s financials showed significant growth in core activities, the result was sensitive to Bitcoin price movements. Considering the amount of BTC on Metaplanet’s balance sheet, the company’s financial outlook will continue to be directly related to the cryptocurrency market in 2026.
