Metaplanet Inc., a prominent Bitcoin treasury company based in Japan, has announced its strongest quarter yet for Q1 FY2025. The company reported record operating profit and a significant expansion of its balance sheet, showcasing its continued success in the cryptocurrency market.
In Q1 FY2025, Metaplanet saw revenue reach ¥877 million, an 8% increase quarter-over-quarter. Operating profit hit a record high of ¥593 million, marking the company’s highest operating profit to date. Total assets surged to ¥55.0 billion, an 81% increase, while net assets soared to ¥50.4 billion, a remarkable 197% increase compared to the previous quarter.
Despite a ¥7.4 billion valuation loss due to a dip in Bitcoin price at the end of March, Metaplanet quickly rebounded. As of May 12, the company has recovered with ¥13.5 billion in unrealized gains, thanks to the resurgence in Bitcoin’s market value. Though the temporary setback impacted net income, which stood at ¥5.0 billion for the quarter, the core operations remained robust.
Metaplanet’s Bitcoin holdings have seen a significant increase, now totaling 6,796 BTC—a 3.9x increase year-to-date. In 2025 alone, the company added over 5,000 BTC to its treasury, reinforcing its commitment to the Bitcoin Treasury Standard. Since adopting this strategy, Metaplanet has witnessed a 103.1x increase in its BTC net asset value and a 138.1x growth in its market cap.
The company’s management stated in their Q1 2025 Earnings Presentation, “Guided by this conviction, we pivoted in 2024 to become Japan’s first dedicated Bitcoin Treasury Company.” They also highlighted the launch of a two-year, ¥116 billion “moving-strike” warrant program in Q1 2025, which has already executed 87% of its plan.
Additionally, Metaplanet reported a substantial rise in shareholders, growing from 10,854 in December 2023 to 63,654 by March 2025. This upward trend in shareholder numbers showcases the increasing interest and support for the company’s vision and operations.
Board of Directors member Tyler Evans congratulated Metaplanet on its record quarter, emphasizing the remarkable 3.9x growth in BTC year-to-date. The company’s management affirmed their commitment to exceeding targets quarter after quarter and positioning Metaplanet as a premier conduit between capital markets and Bitcoin on a global scale.
For those interested in delving into the full Metaplanet earnings report, the document can be accessed here. Please note that Tyler Evans is a co-founder and Chief Investment Officer of UTXO, a company owned and operated by BTC INC, the parent company of Bitcoin Magazine.
The success and growth of Metaplanet underscore its position as a key player in the evolving landscape of Bitcoin and cryptocurrency markets. With a strong focus on innovation and strategic investment, the company continues to set new benchmarks and pave the way for the future of digital finance.