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A company that is changing the way the world mines bitcoin

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12837
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Bitcoin Share
CoinDesk 2025-02-17 10:47:29

Metaplanet Spends Another $26M Buying Bitcoin, Lifting Holdings Above 2K BTC

Metaplanet Spends Another $26M Buying Bitcoin, Lifting Holdings Above 2K BTC

Metaplanet (3350) said it bought a further 269.43 bitcoin ( BTC ), strengthening its position as a major corporate holder of the cryptocurrency. The latest purchase, valued at 4 billion yen ($26.4 million), takes the Tokyo-based company's holdings to 2,031.41 BTC. The purchase is part of the company’s ongoing Bitcoin Treasury Operations; it started buying the largest cryptocurrency in April 2024 and has now made an aggregate investment of 24.9 billion yen at an average price of 12.2 million yen, it said in a document posted on its website. The move aligns with Metaplanet’s commitment to increasing its bitcoin yield, a measure of the change in the ratio of BTC holdings to shares outstanding. The company achieved a yield of almost 310% in the fourth quarter, and its yield for the first quarter is currently 15.3%. The purchase follows last month's $745 million fund-raising exercise through the issuance of 21 million shares. The bitcoin-buying strategy mirrors that of corporate pioneers like MicroStrategy, and it becoming more popular in Japan’s financial sector. Last week, energy firm Remixpoint said it spent 9 billion yen buying bitcoin last year. Among publicly traded companies, Metaplanet now has the 16th-largest stack, according to Bitcoin Treasuries. Metaplanet shares rose 2.2% to 6,040 yen on Monday.

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