Metaplanet Accumulates 40,177 BTC to Become Third-Largest Public Holder After ¥95B Loss
Metaplanet held 40,177 BTC as of April 2, 2026, making it the third-largest public Bitcoin holder behind Strategy and Twenty One Capital. Despite recording ¥104.6 billion in impairment charges and a ¥95.0 billion net loss in FY2025, its operating business grew with ¥8.9 billion revenue and ¥6.3 billion operating income.
1. Continued Bitcoin Accumulation
Metaplanet steadily added Bitcoin throughout early 2026, lifting its holdings from over 35,000 BTC at year-end 2025 to 40,177 BTC by April 2. This accumulation persisted despite share underperformance and negative yield metrics, underscoring a long-term conviction in its digital asset strategy.
2. FY2025 Financial Performance
The company reported ¥8.9 billion in revenue and ¥6.3 billion in operating income for FY2025, while recognizing approximately ¥104.6 billion in impairment losses tied to Bitcoin price declines. Net loss attributable to owners widened to ¥95.0 billion, reflecting significant markdowns rather than operational setbacks.
3. Market Ranking and Competitive Context
With 40,177 BTC on its balance sheet, Metaplanet moved ahead of major holders like MARA, which sold 15,133 BTC in March, to secure the No. 3 spot behind Strategy’s 762,099 BTC and Twenty One Capital’s 43,514 BTC. This repositioning highlights its resilience and contrasts with peers cutting holdings to fund other obligations.