Metaplanet reported a first-quarter loss of $725 million (¥114.5 billion) on Wednesday, a sharp widening driven by a decrease in the value of its Bitcoin holdings.
The firm posted a $31 million (¥5 billion) loss a year ago
During the period ended March 31, the Tokyo-based firm added 5,075 Bitcoin to its stockpile, a 14.5% increase quarter-over-quarter. With Bitcoin recently changing hands around $79,300, the company’s stash, totaling 40,177 Bitcoin, was valued around $3.18 billion. Since Metaplanet began accumulating Bitcoin in April 2024, the company has emerged as the digital asset’s third-largest corporate holder.
Like many Bitcoin-buying firms, the company has faced pressure as the digital asset has declined from record highs last year. The company’s stock closed at ¥327.00 on Wednesday, according to Yahoo Finance. Shares have advanced 5.8% over the past month—turning higher as Bitcoin’s price has hovered around the $80,000 mark—but they remain 45% lower compared to a year ago.