Japanese hotel and Bitcoin treasury firm Metaplanet reported a $619 million net loss for Q4 2025 due to Bitcoin devaluation, its earnings report shows. While its Bitcoin holdings led to over $1.2 billion in unrealized losses, the company’s operational cash flow was unaffected and its annual revenue grew significantly. The firm’s stock price rose 5.6% following the report, and it has a $500 million credit line secured to manage further market volatility.
Metaplanet disclosed a $619 million net loss for the final quarter of 2025 as stated in its earnings. The firm clarified this was a paper loss from its Bitcoin holdings, which did not impact its operational cash flows.
Bitcoin’s price declined from $126,000 to $80,000 during the quarter, causing a 23% loss. The unrealized loss on its holdings doubled to over $1.2 billion after Bitcoin broke below $70,000 in 2026.
Despite the crypto losses, other business segments showed strong growth. Metaplanet’s annual revenue surged 738% to $6.9 million, while operating profit jumped to $41 million.
The company projected it could scale its 2026 revenue by 80% to $104 million. It cited market volatility as a potential challenge for its long-term capital-raising strategies.
Metaplanet currently holds 35,000 Bitcoin and aims to own 1% of the total supply. Its targets include expanding to 100,000 Bitcoin by the end of 2026 and 210,000 by 2027.
To safeguard its position, the firm has secured a $500 million credit line using its Bitcoin as collateral. This is intended for share buybacks if the market deepens its decline.
Following the earnings release, Metaplanet stock surged 5.6% to $2.26. The price increase underscored investor sentiment that looked past the reported quarterly loss.
