Metaplanet Buys $170.7 Million in Bitcoin

Metaplanet Expands Its Bitcoin Treasury

The latest purchase placed Metaplanet behind Strategy and Twenty One Capital among public corporate Bitcoin holders. Strategy, formerly MicroStrategy, was identified as the largest holder with more than 847,000 BTC, while Twenty One Capital ranked second. Metaplanet’s new position also put it ahead of MARA Holdings in the global ranking of publicly traded companies holding Bitcoin on their balance sheets.

Metaplanet added the latest Bitcoin during the second quarter of 2026. The company’s average acquisition price for the added Bitcoin was reported at roughly 12.71 million yen, or about $80,000 per BTC. Its effective purchase price was lower at around 12.09 million yen, or about $77,000 per BTC, because income from the Bitcoin Generation business helped offset the cost.

Metaplanet’s total Bitcoin investment was reported at approximately 659.25 billion yen, or around $4.2 billion, showing the scale of capital already deployed into its Bitcoin treasury strategy. The company’s holdings were valued at roughly 409 billion yen, or about $2.6 billion, as of June 30, 2026. Its overall average cost basis was reported at 15.33 million yen, or about $102,500 per BTC.

The company also reported a BTC Yield of 6.6% during the quarter. The metric was used to show growth in Bitcoin per share, a key performance indicator for corporate Bitcoin treasury companies.

Metaplanet’s Bitcoin Income Generation business generated approximately 1.747 billion yen, or $10.85 million, in operating revenue during the second quarter of FY2026. Another disclosed dollar figure for the Bitcoin Generation segment was $10.95 million, reflecting a narrow difference between the yen-converted operating revenue figure and a separately cited rounded dollar figure.

First-half FY2026 Bitcoin Income Generation revenue reached approximately 4.717 billion yen, or about $29.30 million, after the second-quarter contribution. The same first-half revenue was also presented as approximately 4.72 billion yen. Metaplanet’s trailing 12-month revenue from the Bitcoin Income Generation business reached approximately 11.4 billion yen.

Metaplanet uses Bitcoin options to generate recurring income while continuing to expand its Bitcoin holdings. The company’s latest update showed a model built around direct Bitcoin accumulation, income generation from Bitcoin-related options activity and capital-market access.

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Shares Rise After the Announcement

Metaplanet shares closed 3.5% higher at 207 yen, or about $1.28, after the company disclosed the new Bitcoin purchase and stronger Bitcoin Income Generation revenue. The stock move followed the same announcement that lifted the company into third place among publicly traded corporate Bitcoin holders.

Michael Saylor wrote on X, “Congrats to Metaplanet on reaching 43,000 [BTC] and becoming the #3 corporate Bitcoin treasury in the world.” Saylor added that Metaplanet is proving the Bitcoin treasury strategy is now genuinely global.

Dylan LeClair wrote on X, “Metaplanet now holds 43,000 BTC ($2.6B), with total debt and prefs at 23% of BTC NAV. The balance sheet is robust, the capital channels are being built, and the asset we exist to accumulate is on sale. Forward.”

LeClair’s post pointed to Metaplanet’s leverage profile by saying total debt and preferred stock stood at 23% of Bitcoin NAV. That figure was presented as a key balance-sheet measure for a company whose strategy depends on raising capital while continuing to accumulate Bitcoin.

Metaplanet has scaled rapidly since adopting its Bitcoin strategy in 2024. CEO Simon Gerovich has used equity offerings, debt instruments and options strategies to accumulate Bitcoin, with the approach designed to reduce shareholder dilution while supporting aggressive treasury growth.

A corporate Bitcoin treasury refers to a company holding Bitcoin as a strategic reserve asset on its balance sheet. Metaplanet’s milestone made the Japanese firm one of the largest examples of that model globally and placed Japan more prominently in the corporate Bitcoin accumulation race.

Metaplanet’s current model now has three parts: direct Bitcoin accumulation, income generation through Bitcoin-related options activity and capital-market structuring through equity and debt tools. The company’s latest disclosure showed how those pieces are being used together as it expands its Bitcoin holdings and reports operating revenue from Bitcoin-related activity.