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 15-minute rise of 0.49%: ETF fund net inflows and short squeeze liquidations drive gains together
During the period from 2026-03-22 22:15 to 22:30 (UTC), BTC experienced significant volatility within a short-term range, with the 15-minute candlestick recording a +0.49% gain and closing at 68371.1 USDT. The low touched 67861.4 USDT, with an overall amplitude of 0.75%. Short-term market activity was active, market attention increased, trading volume expanded noticeably compared to the previous period, and active capital flows drove this wave of volatility.
The main driver of this volatility was continuous inflows into US spot ETFs, as well as BTC net outflows at the exchange level. Specifically, according on-chain data shows,
GateNews20m ago
SEC: Shiba Inu (SHIB) Not Security, Ripple's Chris Larsen Injects 261 Million XRP Into $1 Billion Evernorth, BTC Price Reacts to Fed's Decision — Top Weekly Crypto News - U.Today
XRP-based institutional giant to hit $1 billion
SEC clears SHIB regulatory status
Bitcoin reacts to Fed's latest rate decision
XRP's rising support forms near $1.53
XRP-based institutional giant to hit $1 billion
New SEC S-4 filing reveals SBI Holdings paid $10/share as Ripple's Chris
UToday38m ago
Bitcoin at $68K triggers nearly $400M in crypto liquidations.
Bitcoin (BTC) traded just below the $69,000 mark as traders braced for a pivotal weekly candle close, with prices hovering near the long-term line around $68,300. After a weekend slide, the setup underscores a tug-of-war between a fragile near-term outlook and the possibility of a contrarian move, e
CryptoBreaking1h ago
Bitcoin Options Signal Fear Amid Subdued BTC ETF Outflows
Bitcoin traded in a narrow range near $70,000 on Friday after a stumble to reclaim the $75,000 level earlier in the week. The back-to-back sessions of net outflows from U.S.-listed spot Bitcoin ETFs cooled a recent run of inflows, prompting traders to reassess whether institutions are turning more c
CryptoBreaking1h ago
BTC Drops 0.58% in 15 Minutes: Tight Liquidity and Institutional Hedging Create Downward Pressure
2026-03-22 21:00 to 21:15 (UTC), BTC recorded a -0.58% return within just 15 minutes, with prices fluctuating in the range of 67562.1 to 68223.5 USDT, with an amplitude of 0.97%. During this period, market sentiment was highly tense, overall attention increased, and short-term volatility accelerated noticeably.
The main driving force behind this anomaly was the resonance formed by spot market liquidity shortage and medium-sized funds accelerating their exit. On-chain data shows a significant net outflow of -371.99 BTC in the $100k-$1M transaction range, driving selling
GateNews1h ago
