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<h2 id="bitcoin-news">Bitcoin News</h2>
Metaplanet completed a board-approved financing structure Thursday that will raise $79.5 million immediately through new share issuance, with the potential to generate up to $137 million total if attached warrants are exercised over the next year.
The Tokyo-listed company <a href="https://contents.xj-storage.jp/xcontents/33500/88a08d22/aa53/4f3e/9524/3e67c8b19248/140120260129542067.pdf" rel="noopener noreferrer nofollow">will issue</a> 24.53 million common shares at 499 yen per share, representing a 5% premium to the prior closing price. Each share includes 0.65 stock acquisition rights, totaling 15.94 million potential additional shares exercisable at 547 yen through Feb. 15, 2027.
CEO Simon Gerovich <a href="https://x.com/gerovich/status/2016825495950938486" rel="noopener noreferrer nofollow">announced</a> the completion roughly an hour after a formal notice detailed approval from the board of directors on Jan. 29. The securities are being placed directly with select overseas investors through a third-party allotment rather than sold publicly on open markets.
Approximately $91.2 million from the net proceeds will fund additional <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> purchases between February 2026 and February 2027. The company stated in its notice that acquiring more Bitcoin will strengthen its financial foundation and enhance its value preservation function under macroeconomic conditions characterized by fiat currency depreciation and inflationary pressures.
Another $10.1 million supports the Bitcoin Income business segment, which generates revenue through derivative and options transactions on <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a>. The company expects this division to contribute $57.8 million in revenue for fiscal 2025, up from a previous projection of $44 million.
Debt repayment receives $33.8 million to pay down borrowings under a $500 million credit facility. Approximately $280 million had been drawn from this facility as of Jan. 28, which the company <a href="https://metaplanet.jp/en/analytics" rel="noopener noreferrer nofollow">said</a> enabled Bitcoin purchases and business expansion under constrained market conditions.
The firm described the financing as necessary to continue building its Bitcoin position in a capital-efficient manner while managing shareholder dilution. Metaplanet stated it regards the expansion of Bitcoin holdings per share as a critical management metric entering 2026.
The company pivoted to a Bitcoin treasury business model in April 2024. As of Dec. 31, 2025, Metaplanet <a href="https://bitcointreasuries.net/public-companies/metaplanet" rel="noopener noreferrer nofollow">held</a> 35,102 Bitcoin, representing approximately 19x the 1,762 <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> it held at the start of the year, making it the fourth-largest corporate Bitcoin holder globally according to Bitcoin Treasuries data.
The aggressive accumulation occurred despite Metaplanet booking a non-operating impairment loss of 104.6 billion yen, approximately $680 million, for fiscal 2025 tied to Bitcoin price volatility. The company reported an expected revenue of $57.8 million for the year based on stronger results from its Bitcoin income generation business.
Metaplanet shares traded in Tokyo fell 4% on Thursday to 456 yen. The company's U.S.-traded shares on OTC Markets closed down 3% on Wednesday at $3.09, with the decline reflecting short-term dilution concerns despite the premium pricing on new shares as the firm positions itself to restore borrowing capacity and preserve flexibility for future capital actions while executing its Bitcoin treasury strategy.

Metaplanet Plans $137M Raise to Expand Bitcoin Holdings

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