Metaplanet Revises Bitcoin Revenue Expectations Upward - $100 Million Target by 2026

Metaplanet (3350), one of Japan’s leading companies adopting a digital asset strategy, has decided to revise its revenue forecasts upward despite corrections in Bitcoin prices. The company announced that, although it will incur a paper loss of over 100 billion yen by the end of the 2025 fiscal year, its core business dynamics remain strong and it maintains an optimistic outlook for the coming year.

Revenue Projections Up Despite Paper Loss

Listed on the Tokyo Stock Exchange, Metaplanet achieved 8.9 billion yen in revenue for the 2025 fiscal year, surpassing the previous estimate of 6.8 billion yen by 31%. However, due to a 104.6 billion yen impairment in Bitcoin assets in the fourth quarter, the company reported an accounting loss of 98.6 billion yen and a net loss of 76.6 billion yen. Nonetheless, management emphasized that this accounting loss does not affect cash flows or the fundamental structure of the business.

For the 2026 fiscal year, Metaplanet projects 16 billion yen in revenue and 11.4 billion yen in operating income. These projections represent nearly double the previous year’s figures. It is expected that approximately 97.5% of the projected sales will come from Bitcoin Revenue Generation operations.

Bitcoin Revenue Generation Strategy: Structured Options and Asset Management

The core of Metaplanet’s revenue strategy lies in structured options strategies based on Bitcoin assets. The company uses its Bitcoin reserves as collateral to generate steady income streams through specific financial products. Currently, the company holds approximately 35,102 BTC, valued at over $3 billion.

The success of this asset management strategy is reinforced by the issuance of Class B perpetual preferred stock “MERCURY” and the establishment of a $500 million credit facility. Additionally, the company has introduced a Class A preferred stock called “MARS.” These various financial instruments make the company’s capital structure more resilient to stock price fluctuations.

Expectations for 2026: Revenue Nearly Doubling

Metaplanet’s projections for 2026 reflect an aggressive growth plan despite Bitcoin price volatility. The expected 16 billion yen in revenue, with 11.4 billion yen in operating income, indicates increased operational efficiency.

Growth in Bitcoin assets per share has increased by 568% over the past year. Despite share dilution, this performance demonstrates the effectiveness of the Bitcoin Revenue Generation strategy. The remaining 400 million yen in revenue is expected from hotel operations, which the company states provide stability.

Risk Management and Future Outlook: Turning Volatility into Opportunity

Due to Bitcoin price volatility, Metaplanet has not provided a net income forecast for the 2026 fiscal year. However, the company emphasized that its asset acquisition strategy and return-generation mechanisms are on track. While the current BTC price hovers around $77.51K, the company’s long-term strategy is structured to withstand such fluctuations.

Metaplanet’s example illustrates how traditional financial companies can implement digital asset strategies at an institutional level. Despite experiencing paper losses, the core business model and revenue-generating capacity continue to show an upward trend. This represents a complex but potentially profitable way to navigate highly volatile assets like Bitcoin.