Metaplanet Achieves Record Profits in Q2 2025 Due to Strong Bitcoin Performance
Metaplanet, a Japan-based firm, has announced its most profitable quarter to date, with second-quarter (Q2) 2025 earnings soaring thanks to robust Bitcoin performance and strategic treasury expansion. The company’s financial disclosure on August 13 revealed a net income of ¥11.1 billion (approximately $75.1 million) for the quarter, marking a significant turnaround from the ¥5 billion loss reported in the same period last year. Additionally, the firm reported an ordinary profit of ¥17.4 billion ($117.8 million), a substantial increase from the ¥6.9 billion loss in Q2 2024.
Revenue for the quarter climbed by 41% quarter-over-quarter (QoQ) to ¥1.239 billion ($8.4 million), while gross profit grew by 38% QoQ to ¥816 million ($5.5 million). Metaplanet’s Bitcoin holdings also saw impressive growth, with the company acquiring 18,113 BTC as of August 12, including 16,351 BTC purchased this year alone. These holdings have generated an unrealized profit of over ¥55 billion (equivalent to $342 million).
CEO Simon Gerovich hailed the quarter as the “strongest in Metaplanet’s history,” attributing the results primarily to the firm’s Bitcoin strategy. Metaplanet had previously set a goal of acquiring 210,000 BTC, approximately 1% of Bitcoin’s total supply, by 2027. To fund this ambitious acquisition, the company plans to raise around $20 billion through preferred and common share offerings.
One of the initiatives to raise funds is the launch of Metaplanet Prefs, a perpetual preferred equity program backed by Bitcoin. With Japan’s household wealth estimated at $14.9 trillion, including significant amounts in cash deposits and the fixed income market, the company sees an opportunity to channel dormant capital into yield-bearing Bitcoin assets. The Metaplanet Prefs program aims to issue BTC-backed instruments across various credits and maturities, targeting Japan’s fixed-income market.
In its earnings presentation, Metaplanet highlighted that this strategy represents the next stage of its mission to digitally transform Japan’s capital markets. The company plans to leverage its strong balance sheet and credit profile to deliver innovative, yield-focused products. The model is reminiscent of Strategy’s (formerly MicroStrategy) preferred shares program, which funds its Bitcoin purchases.
Overall, Metaplanet’s successful quarter and strategic initiatives position the firm as a leader in the digital transformation of Japan’s capital markets, with a focus on harnessing the potential of Bitcoin to drive growth and innovation.