Metaplanet reported a first-quarter loss of $725 million (¥114.5 billion), a significant widening from $31 million (¥5 billion) a year ago, driven by a decrease in the value of its Bitcoin holdings. During the period ended March 31, the Tokyo-based firm added 5,075 Bitcoin to its stockpile, a 14.5% quarter-over-quarter increase. With Bitcoin around $79,300, the company's total 40,177 Bitcoin holdings were valued at about $3.18 billion. Despite the loss, Metaplanet generated $15.8 million (¥2.5 billion) from selling Bitcoin options contracts, up sharply from $4.8 million (¥770 million) last year. The company also saw its investor base expand to 250,000 shareholders from 63,600. CEO Simon Gerovich emphasized the dual focus on accumulating Bitcoin and developing related services. Metaplanet has positioned itself as Japan's equivalent of Strategy, and is working to issue preferred shares mimicking STRC, though the process has taken longer than expected. The company's stock closed at ¥327, down 45% year-over-year but up 5.8% over the past month.

Key facts

• Q1 loss of $725M, widened from $31M last year due to Bitcoin value decline
• Added 5,075 Bitcoin (14.5% QoQ), total holdings 40,177 BTC valued at $3.18B
• Revenue from Bitcoin options sales jumped to $15.8M from $4.8M
• Shareholder base expanded to 250,000 from 63,600 year-over-year
• Stock closed at ¥327, down 45% YoY but up 5.8% over past month

KeyAudit data perspective