Metaplanet Reports Major Net Loss Amid Bitcoin Price Volatility
Metaplanet, a major Bitcoin holding company, reported a significant net loss in the first nine months of 2026, largely due to losses from Bitcoin sales and declining Bitcoin prices.
Metaplanet swung to a $170 million net loss in the first nine months of 2026, primarily due to a decline in the value of its Bitcoin holdings and a loss on the sale of 10,000 coins to demonstrate its ability to raise cash (source ID: 1). The Japanese company, the world’s second-largest publicly traded corporate Bitcoin (BTC) holder, posted a net loss of 27.16 billion yen (about $170 million), compared with a profit of 13.53 billion yen ($84.6 million) in the same period last year. [1]
A 19.17 billion yen ($119.8 million) loss on the Bitcoin sale and an 8.04 billion yen ($50.3 million) loss from a decline in the value of its Bitcoin holdings outweighed gains in the operating business (source ID: 1). Over the quarter, Metaplanet sold the 10,000 BTC for 124.7 billion yen and temporarily held the proceeds in cash, stablecoins and other liquid assets. It then spent 149.9 billion yen to buy 11,000 BTC, paying 9.3% more per coin on average. [1]
The company said the sale was meant to show rating agencies and bond investors that it could turn its Bitcoin into cash to meet financing obligations. At the end of September, holdings rose by a net 1,000 coins to 44,000 BTC (source ID: 1). Metaplanet borrowed against its Bitcoin holdings during the quarter, increasing the amount it owed under the credit line to $649.5 million at the end of September from $414 million at the end of June. [1]
Metaplanet swung to a $170 million net loss in the first nine months of 2026, primarily due to a decline in the value of its Bitcoin holdings and a loss on the sale of 10,000 coins to demonstrate its ability to raise cash (source ID: 1). The company reported a 19.17 billion yen ($119.8 million) loss on the Bitcoin sale and an 8.04 billion yen ($50.3 million) loss from a decline in the value of its Bitcoin holdings, which outweighed gains in the operating business (source ID: 1). [1]
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Over the quarter, Metaplanet sold the 10,000 BTC for 124.7 billion yen and temporarily held the proceeds in cash, stablecoins and other liquid assets. It then spent 149.9 billion yen to buy 11,000 BTC, paying 9.3% more per coin on average (source ID: 1). The company said the sale was meant to show rating agencies and bond investors that it could turn its Bitcoin into cash to meet financing obligations (source ID: 1). [1]
At the end of September, Metaplanet’s Bitcoin holdings rose by a net 1,000 coins to 44,000 BTC. The company borrowed against its Bitcoin holdings during the quarter, increasing the amount it owed under the credit line to $649.5 million at the end of September from $414 million at the end of June (source ID: 1). [1]
Metaplanet swung to a $170 million net loss in the first nine months of 2026, primarily due to a decline in the value of its Bitcoin holdings and a loss on the sale of 10,000 coins to demonstrate its ability to raise cash (source ID: 1). The company reported a 19.17 billion yen ($119.8 million) loss on the Bitcoin sale and an 8.04 billion yen ($50.3 million) loss from a decline in the value of its Bitcoin holdings, which outweighed gains in the operating business (source ID: 1). [1]
Over the quarter, Metaplanet sold the 10,000 BTC for 124.7 billion yen and temporarily held the proceeds in cash, stablecoins and other liquid assets (source ID: 1). The company said the sale was meant to show rating agencies and bond investors that it could turn its Bitcoin into cash to meet financing obligations (source ID: 1). [1]
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At the end of September, Metaplanet’s Bitcoin holdings rose by a net 1,000 coins to 44,000 BTC (source ID: 1). The company funded Bitcoin purchases from the second quarter onward with money borrowed under the credit line, proceeds from bond sales and the exercise of stock acquisition rights, and revenue from its Bitcoin options business (source ID: 1). [1]
Metaplanet sold 10,000 Bitcoin (BTC) for 124.7 billion yen during the quarter, temporarily holding the proceeds in cash, stablecoins, and other liquid assets. This transaction was intended to demonstrate the company's ability to raise cash to meet financing obligations, as stated in the source material (source ID: 1). [1]
The company used the proceeds from the Bitcoin sale, along with money borrowed under a credit line, proceeds from bond sales, and revenue from its Bitcoin options business, to fund Bitcoin purchases from the second quarter onward. This approach allowed Metaplanet to buy 11,000 BTC at an average price 9.3% higher per coin than the sale price (source ID: 1). [1]
As a result of these activities, Metaplanet increased the amount it owed under the credit line to $649.5 million at the end of September, up from $414 million at the end of June. The company also reported a significant rise in interest expense, which increased by 56% from the previous quarter to 1.36 billion yen ($8.5 million) (source ID: 1). [1]
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