Japan’s Metaplanet Adds 5,075 Bitcoin in Q1, Raises Holdings to 40,177 BTC

TLDR

Japan’s Metaplanet added 5,075 Bitcoin during the first quarter of 2026, raising its total holdings to 40,177 BTC as of March 31 and placing the company among the largest public corporate holders of the asset. The latest purchase marks another step in the Tokyo-based firm’s treasury strategy as it continues to expand its Bitcoin reserves while developing related business lines tied to digital assets.

The company said the 5,075 BTC acquired in the quarter were purchased for about $405.5 million at an average price of roughly $79,898 per coin. Following the latest addition, Metaplanet’s cumulative Bitcoin investment stood at around $4.2 billion, with an average purchase price of about $104,106 per Bitcoin, according to the figures disclosed in its notice. Separate market reports also placed the quarter’s purchase value near $398 million, reflecting differences in reported calculations tied to exchange rates and transaction details.

With total holdings of 40,177 BTC, Metaplanet has moved into the position of the third-largest publicly traded corporate Bitcoin holder globally, according to Bitcointreasuries data. The company now trails Strategy, which remains the largest corporate holder by a wide margin, and Twenty One Capital, which is listed ahead of Metaplanet with 43,514 BTC.

Metaplanet’s latest treasury expansion comes as listed companies continue to use Bitcoin as a balance sheet asset while also building additional revenue streams around digital asset activity. In Metaplanet’s case, the company said its Bitcoin income business generated sales of 2,969 million yen, or about $18.6 million, in the first quarter.

Metaplanet Expands Bitcoin Treasury in First Quarter

The company said its Bitcoin income business uses options strategies designed to help lower the effective acquisition cost of Bitcoin purchased during the same period. According to its notice, revenue from that activity is used in part to fund additional Bitcoin purchases. That approach links treasury expansion to an operating model built around the digital asset itself, rather than relying solely on external financing.

Metaplanet also reported a BTC Yield of 2.8% for the period from January 1 to March 31. The metric measures the percentage change in the ratio of total Bitcoin holdings to fully diluted shares outstanding. That figure was lower than the 11.9% reported in the prior quarter and below the 33% recorded in the third quarter of 2025.

The company’s BTC Gain, which measures the increase in Bitcoin holdings adjusted for dilution, was reported at 876 for the quarter, down from 3,672 in the previous quarter. Even with that decline, the latest purchase activity showed that Metaplanet continued to build its treasury amid price volatility in the cryptocurrency market.

Funding Plans and Broader Digital Asset Strategy Continue

The first-quarter accumulation followed Metaplanet’s earlier announcement that it had secured $531 million in additional funding capacity as part of its longer-term goal of acquiring 210,000 BTC. That target remains one of the more ambitious treasury plans among public companies using Bitcoin as a reserve asset.

Alongside its treasury strategy, Metaplanet has been expanding its presence in the broader digital asset sector. Recent moves have included establishing venture capital and asset management subsidiaries, as well as strategic investments in Japan’s digital payments and stablecoin ecosystem, including JPYC.

For the 2025 fiscal year, the company reported a non-operating impairment loss of 104.6 billion yen, or about $680 million, linked to bitcoin price volatility. At the same time, it raised its revenue forecast for the year to 8.58 billion yen from 6.8 billion yen, citing stronger performance from its bitcoin income generation business.

Share price and market ranking remain in focus

Metaplanet shares fell nearly 2% to 302 yen in Thursday trading, according to TradingView. The company’s U.S.-traded shares on the OTC market closed about 0.5% higher in the previous session at $1.89. The stock reaction came as investors assessed the latest treasury disclosure and the company’s pace of accumulation.

The updated holding total also placed Metaplanet ahead of other corporate bitcoin holders that have reduced or slowed their treasury growth. The latest figures cited in market coverage showed that the company overtook MARA Holdings in the public-company ranking after changes in MARA’s bitcoin position.

Metaplanet’s first-quarter update keeps attention on how public companies are using bitcoin treasury strategies as part of broader capital allocation plans. With 40,177 BTC now on its balance sheet, Japan’s Metaplanet remains one of the most closely watched corporate holders in the digital asset market.