On January 27, Tokyo Stock Exchange-listed Bitcoin asset management company Metaplanet (TSE: 3350) announced its latest earnings guidance. After confirming a Bitcoin impairment loss of up to ¥104.6 billion, it simultaneously raised its profit and revenue forecasts, drawing significant market attention. This contrast makes it a true example of the current corporate Bitcoin financial model.
According to the company’s disclosure, revenue for fiscal year 2025 is expected to reach ¥8.9 billion, up from the previous guidance of ¥6.8 billion, an increase of approximately 31%; operating profit has also been revised upward to ¥6.29 billion, a year-on-year increase of 33.8%. Although the consolidated financial statements recorded a net loss of ¥76.6 billion, Metaplanet emphasized that this mainly results from accounting impairments caused by the decline in Bitcoin market value at the end of the quarter, not cash outflows. Under Japanese accounting standards, such assets must be revalued at market prices, so price fluctuations are directly reflected in the profit and loss statement.
Notably, the depreciation of the Japanese yen brought the company ¥22.6 billion in foreign exchange gains, partially offsetting the paper decline in Bitcoin value. Dylan LeClair, head of Bitcoin strategy, stated that the company’s core business and holdings are still rapidly expanding, with the current Bitcoin holdings reaching 35,102 coins, nearly 20 times the amount held at the same period last year.
From a capital structure perspective, Metaplanet diversified its financing in Q4 2025 through convertible preferred shares and a $500 million credit line, reducing its reliance on stock price when increasing Bitcoin holdings. This also resulted in a Bitcoin yield of 568% for the year, far exceeding management’s original target.
Looking ahead to fiscal year 2026, Metaplanet expects revenue to jump to ¥16 billion, an increase of nearly 80%, with the vast majority coming from Bitcoin holdings and income-generating activities. Operating profit is projected to reach ¥11.4 billion, also close to doubling. Although the company does not provide net profit forecasts, this guidance indicates that its “holding + income” model is attempting to move beyond the volatility associated with simply accumulating coins.
In a time when digital asset custody models are highly controversial, Metaplanet’s performance may become a key case study in whether enterprise-level Bitcoin strategies can be sustainable.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BTC up 0.49% in 15 minutes: Short squeeze and U.S. economic data jointly drive the market
From 2026-04-09 08:30 to 2026-04-09 08:45 (UTC), BTC surged quickly within the USDT 70979.6 to 71333.3 range. The 15-minute return was +0.49%, with a range (amplitude) of 0.50%. Near-term market volatility intensified, market attention increased significantly, the number of active on-chain addresses remained consistently above 120k, and daily trading volume exceeded $2.0 billion, reflecting rising user participation.
The main driving force behind this abnormal move was a large-scale liquidation of short positions in the futures market, with approximately $273 million in short funds being forced to liquidate during this period
GateNews26m ago
Bitcoin’s implied volatility drops to an intra-year low, and the market is reacting mildly to Friday’s CPI data
April 9, U.S. March CPI data will be released on April 11. The market expects the year-over-year rate to rise from 2.4% to 3.4%. The Bitcoin market has responded calmly, with the options market’s volatility range only at 2.5%. Attention has been drawn by the rise in gasoline prices. Analysts believe that CPI data coming in either too soft or too hot will have different impacts on the crypto market.
GateNews42m ago
Hyperliquid’s combined trading volume of its two perpetual contracts for the first time surpassed BTC, reaching $2.45 billion.
Gate News message; on April 9, according to official Hyperliquid data, the combined trading volume of WTI crude oil (U.S. West Texas Intermediate crude oil) and Brent crude oil (Brent crude oil) perpetual contracts surpassed Bitcoin for the first time. The data shows that Bitcoin’s trading volume was $2.29 billion, WTI crude oil’s trading volume was $1.68 billion, and Brent crude oil’s trading volume was $770 million; the combined volume of the two oils reached $2.45 billion.
GateNews1h ago
The Bhutan government transferred 319.7 BTC three hours ago; its current holdings are down 70% from the peak.
The Royal Government of Bhutan has recently transferred approximately 319.7 BTC, valued at $22.68 million, and currently holds 3,954 BTC. Since this year began, the government has moved out $215.7 million worth of Bitcoin, and its holdings are down by about 70% from their peak. Bitcoin assets are managed by the national sovereign wealth fund.
GateNews1h ago
