Bitcoin Operations Drive Metaplanet's 738% Revenue Surge, Accounting for 95% of Total Sales
Japanese firm Metaplanet saw revenues skyrocket 738% to reach $58 million in FY2025 from the previous year's $7 million, with Bitcoin-related activities representing 95% of total income.
A Japanese publicly-traded company, Metaplanet, has disclosed remarkable revenue expansion following its strategic shift to focus operations on Bitcoin, with the digital currency now representing virtually all of the company's business activity.
Based on the company's earnings report for fiscal year 2025, revenues surged to 8.9 billion Japanese yen ($58 million) compared to 1.06 billion yen ($7 million) in the prior year, marking a substantial 738% increase year-over-year. This dramatic growth came after the company introduced its Bitcoin (BTC) income-generating operations.
"We launched the Bitcoin Income business in Q4 2024. Since then, this strategy has become our primary revenue source and is expected to remain a core driver of profit growth," the company wrote.
An analysis of the revenue composition reveals that approximately 95% of the company's total income originated from Bitcoin-linked operations, primarily generated through premium income derived from BTC options transactions. The firm only initiated this business segment in the latter part of 2024, effectively supplanting traditional revenue streams including hotel and media ventures as the foundation of its financial structure.
Bitcoin price drop pushes Metaplanet into loss
The company achieved an operating profit of approximately $40 million, yet reported a net loss of around $619 million. This loss resulted from accounting requirements. Given that Metaplanet maintains substantial Bitcoin reserves, it is required to report price fluctuations on its financial reports, and a valuation decline exceeding $664 million wiped out the operating income generated during the year.
The firm has pursued an aggressive Bitcoin accumulation strategy concurrent with its business transformation. Its Bitcoin holdings expanded from 1,762 BTC at the conclusion of 2024 to 35,102 BTC by the end of 2025, establishing it as Japan's largest corporate holder of Bitcoin. Additionally, the company has secured more than $3.2 billion in capital since implementing its treasury strategy.
Metaplanet characterized its approach as a long-term Bitcoin treasury strategy, with the objective to "acquire and hold Bitcoin permanently to hedge against fiat currency dilution and benefit from long-term value appreciation."
The firm anticipates continued expansion in the coming year, projecting revenues of approximately $104 million and operating profit of around $74 million.
Metaplanet CEO reaffirms Bitcoin strategy despite market selloff
In recent weeks this month, Metaplanet CEO Simon Gerovich indicated the firm will maintain its Bitcoin-centric strategy even as the wider cryptocurrency market experiences a significant downturn. In a statement on X, he confirmed there would be no change in strategy despite the recent market volatility.
In the previous month, the firm also authorized an international capital raising initiative of up to $137 million to further expand its Bitcoin reserves and decrease debt obligations.