ChainCatcher report: On Monday, Bitcoin treasury company Metaplanet released its fiscal year 2025 financial results. As of December 31, the company recorded a net loss of JPY 95 billion (USD 619 million), reversing from a net profit of JPY 4.44 billion (USD 28.9 million) in fiscal year 2024. The financial report attributed this loss primarily to a JPY 102.2 billion (USD 6.658 billion) valuation decline on its Bitcoin holdings. The company classified this loss as a non-operating expense, stating it had no impact on cash flow or operating activities. Despite the sharp fluctuation in net profit, the company emphasized the resilience of its capital structure. Metaplanet noted that its balance sheet remains “solid,” with liabilities and preferred shares fully covered even after a “86% decline in Bitcoin price,” thanks to its high equity ratio of 90.7%. As of December 31, the company reported liabilities of JPY 46.7 billion (USD 3.042 billion) and net assets of JPY 458.5 billion (USD 29.9 billion), with the value of its Bitcoin holdings at JPY 481.5 billion (USD 3.1 billion). The filings show that in operations, Metaplanet’s revenue for fiscal year 2025 reached JPY 8.91 billion (USD 580 million), a 738% increase from JPY 1.06 billion (USD 69 million) in the prior year. Operating profit surged from JPY 350 million (USD 2.28 million) to JPY 62.9 billion (USD 410 million), an increase of 1,695%. The company stated that its Bitcoin-related business generated JPY 8.47 billion (USD 552 million) in revenue and JPY 7.19 billion (USD 468 million) in operating income, driven primarily by premium income from Bitcoin options trading.
Metaplanet 2025 Annual Report: $665.8M Bitcoin Loss, But Balance Sheet Remains Stable
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Summary
Bitcoin news: Metaplanet reported a net loss of 95 billion yen ($619 million) for 2025, primarily due to a $665.8 million decline in Bitcoin valuation. Despite the loss, the company’s balance sheet remains stable, with an equity ratio of 90.7%. Bitcoin analysis reveals that the company’s Bitcoin-related business generated $55.2 million in revenue, while operating profit surged 1,695% to $410 million. Total liabilities amounted to $304.2 million, and net assets reached $2.99 billion.
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