Metaplanet (3350), the largest bitcoin Japanese treasury company, full-year operating profit forecast will rise 81% this year after premiums from option writing rose 17-fold in 2025.
The company, which owns 35,102 BTC, made an operating profit of 6.29 billion yen ($40.8 million) last year. Premiums on subscription options jumped to 7.98 billion yen from 691 million in 2024. Total revenue rose 738% to 8.9 billion yen.
Yet as the price of bitcoin fell from an all-time high of nearly $125,000 at the end of the year below $90,000, Metaplanet recorded a non-cash valuation loss of 102.2 billion yen, leading to a net profit loss of 95 billion yen ($605 million).
The Tokyo-based company still holds more than $2.4 billion in bitcoin and plans to generate almost all of its revenue in 2026 from these holdings.
It is currently sitting on around $1.2 billion in unrealized losses, given the BTC price drop to $68,550.
The company said it expects its full-year revenue to rise nearly 80% in 2026 to 16 billion yen, with operating profit reaching 11.4 billion yen. Shares rose 0.31% to 326.0 yen on Monday.
