Metaplanet buys $450M in Bitcoin, completes $136M capital raise

Key Takeaways

• Metaplanet acquired 4,279 BTC in Q4 2025 for $451.1 million at an average price of $105,400 per Bitcoin.
• The company also confirmed completion of the third-party preferred share allotment.

Metaplanet, the fourth-largest Bitcoin treasury company, disclosed Tuesday that it purchased 4,279 BTC for over $450 million during Q4 2025. With the latest buys, the firm’s holdings now stand at 35,102 BTC valued at more than $3 billion.

The Japanese public company has achieved a BTC Yield of 568% year-to-date in 2025, CEO Simon Gerovich said in a statement. The company uses BTC Yield as a primary metric to gauge Bitcoin accretion on a per-share basis for shareholders.

Metaplanet also announced that it had completed payment for the issuance of 23.6 million Class B “MERCURY” preferred shares through a third-party allotment. The shares were priced at 900 JPY each, raising over 21 billion JPY (over $136 million) in proceeds split between capital stock and capital reserves.

The company said it plans to use the bulk of the funds to purchase additional Bitcoin, with the remainder directed toward Bitcoin yield-generating strategies and the redemption of corporate bonds.