Metaplanet, a Tokyo-based company holding a large Bitcoin
reserve, has updated its financial outlook with mixed results.
The firm expects stronger performance from its operations, but also faces a major accounting loss due to the drop in Bitcoin’s value.
In a statement released on January 26, Metaplanet raised its 2025 targets. The company projects revenue of about 8.9 billion yen (around $58 million) and operating income of roughly $40 million.
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Despite this, it expects an ordinary loss of $632 million and a net loss of $491 million. The main reason is a non-cash Bitcoin impairment estimated at $680–$700 million.
Metaplanet said the impairment is a bookkeeping change, not an actual loss of funds. It results from end-of-quarter mark-to-market accounting and does not affect cash flow or day-to-day business. The company’s final 2025 report is scheduled for release on February 16.
The firm’s Bitcoin income generation business performed better than expected. Management said revenue from this segment in the final quarter of 2025 should “significantly exceed initial projections”, which brings full-year revenue for that division to about $55 million.
For 2026, Metaplanet expects even stronger growth. It projects revenue of around $103 million and operating income of about $73 million. Almost all of this is expected to come from its Bitcoin-related activities.
Selling, general, and administrative costs are expected to reach about $29 million.
Meanwhile, ETHZilla, a company that manages Ethereum
-based funds, has started expanding into real-world assets. How? Read the full story.
