Bitcoin Slump Forces Metaplanet Into $728M Quarterly Loss

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Metaplanet ended the first quarter of 2026 holding 40,177 Bitcoin — up from 35,102 at the close of ...

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Ad Disclosure\n\nMetaplanet ended the first quarter of 2026 holding 40,177 Bitcoin — up from 35,102 at the close of ...</p>\n\n<a href=\"https://bitcoinist.com/bitcoin-slump-forces-metaplanet-into-728m-quarterly-loss/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BITX","symbol_name":"2倍比特币期货ETF-Volatility Shares","start_time":0,"source_url":"https://bitcoinist.com/bitcoin-slump-forces-metaplanet-into-728m-quarterly-loss/","article_id":"2635704682","we_media_id":null,"thumbnails":["https://bitcoinist.com/wp-content/uploads/2026/05/a_f0da98.webp?resize=350%2C250"],"rights":{"source":"bitcoinist_highlight","url":"https://bitcoinist.com/bitcoin-slump-forces-metaplanet-into-728m-quarterly-loss/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2635704682","pubTimestamp":1778821230,"columns":[],"sourceInfo":{"source_id":"bitcoinist_highlight","name":"Bitcoinst"},"weMediaInfo":null,"summary":"Metaplanet ended the first quarter of 2026 holding 40,177 Bitcoin — up from 35,102 at the close of December 2025...","collect":0,"end_time":0,"defaultTopTitle":"bitcoinist.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BITX":"2倍比特币期货ETF-Volatility Shares","BTC":"Grayscale Bitcoin Mini Trust","BITO":"比特币期货ETF-ProShares","IBIT":"比特币ETF-iShares"},"translate_title":"比特币暴跌迫使Metaplanet季度亏损7.28亿美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BITX":0.6,"BITO":0.6,"BTC":0.6,"IBIT":0.6},"content_text":"Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure\n\nMetaplanet ended the first quarter of 2026 holding 40,177 Bitcoin — up from 35,102 at the close of December 2025 — after buying roughly 5,075 BTC during the period to become the third-largest publicly listed Bitcoin treasury company in the world. That aggressive accumulation came at a cost.\nA Quarter Of Two Stories\nThe Tokyo-listed firm posted an ordinary loss of around $728 million for the three months ending March 31, driven by non-cash valuation markdowns on its Bitcoin holdings after the price of BTC dropped about 24% during the quarter — from roughly $87,000 on January 1 to around $66,000 by quarter’s end.\n\n\n\n\n\n\nRelated Reading: Crypto Billionaire’s $7M Gift Puts UK Reform Leader Under Ethics Spotlight\nThe loss widened sharply from the same period a year earlier, with the basic loss per share coming in at around $0.63, compared to roughly $0.078 12 months prior.\nMetaplanet’s consolidated financial results for the first quarter 2026. Source: Metaplanet\nThe bottom-line hit stood in contrast to the company’s operating results. Metaplanet reported Q1 operating income of 2.27 billion Japanese yen, or about $14.38 million, on net sales of roughly $19.5 million.\nThat works out to an operating margin of 73.6%. Revenue more than tripled year over year, up from about $5.5 million in the same quarter of 2025, with most of that growth coming from its Bitcoin Income Generation unit, which books option premiums and derivative valuation gains. Hotel operations contributed a smaller, steadier slice of revenue.\n\n\n\n\n\n\n\n\n\n\n\n\nBorrowing To Buy More Bitcoin\nTo fund its Bitcoin purchases, Metaplanet drew further on a $500 million Bitcoin-collateralized credit facility. As of May 13, the company had $302 million outstanding under that arrangement.\nBitcoin is currently trading at $79,271. Chart: TradingView\nTotal net assets fell from $2.96 billion at the end of December to about $2.60 billion by March 31, as valuation losses outpaced new equity raised during the quarter.\n\n\n\n\n\n\n\n\n\n\n\n\nDespite the losses, Metaplanet kept its full-year 2026 guidance unchanged. The company is still forecasting net sales of about $100 million and operating profit of around $72 million for the year. It did not provide ordinary or net income guidance, citing Bitcoin price sensitivity as the reason.\nBTC Yield As The Measuring Stick\nThe company’s preferred performance measure, Bitcoin per diluted share, rose from 0.0240486 BTC to 0.0247319 BTC over the quarter, reflecting what Metaplanet calls a BTC yield of 2.8% for Q1.\nRelated Reading: Bhutan Transfers $8 Million In Bitcoin Amid Ongoing Bitcoin Liquidation\nThe company frames this metric as its primary indicator of shareholder value, measuring Bitcoin accumulation on a per-share basis after accounting for dilution from new equity issuances.\nFeatured image from Getty Images, chart from TradingView\n\n\n\nEditorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. 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