• Metaplanet reported a full-year lack of ¥95 billion pushed by a pointy mark-to-market decline in its 35,100 Bitcoin holdings.
  • The corporate’s Bitcoin stash is at the moment valued at roughly US$2.4 billion towards an accumulation price of US$3.8 billion, leaving it roughly 37% underwater.
  • Comparable treasury methods are struggling throughout the sector as Technique reported a US$17.4 billion unrealised loss for This autumn 2025 following the market downturn.

Effectively, Metaplanet’s Bitcoin (BTC) treasury technique is beginning to look painful on the earnings assertion. 

The Japanese agency reported a full-year lack of ¥95 billion, which it pegged at about US$605 million (AU$925 million), on income of ¥8.9 billion, or about AU$88 million, after Bitcoin slid sharply from its October highs.

The hit was clearly pushed by the mark-to-market decline in its Bitcoin holdings. 

Metaplanet stated it held 35,100 BTC, valued at about US$2.4 billion (AU$3.6 billion) as of Monday. It has spent almost US$3.8 billion (AU$5.8 billion) accumulating that stash over roughly 21 months at a median price of about US$107,000 per Bitcoin (AU$163,710).

With BTC just lately round US$68,000 (AU$104,040), the corporate is sitting on giant paper losses. It referenced roughly US$1.2 billion (AU$1.8 billion) in unrealised losses, and elsewhere characterised the drawdown as roughly 37% and about US$1.4 billion (AU$2.1 billion) underwater. 

Within the three months ended Dec. 31, it stated the stash fell by ¥102 billion, or about US$664 million (AU$1,01 billion).

Learn extra: Bitcoin Back in the Red as Analysts Warn $60K is “Liquidation Trigger”

Treasury Companies Struggling From The Market Downturn

Metaplanet’s working enterprise didn’t offset the market transfer. It generates most of its income from option-writing premiums, which it stated jumped to ¥7.9 billion, or about US$51 million (AU$78 million), from ¥691 million, or about US$4.5 million (AU$6.8 million). 

It forecast full-year income of 16 billion yen in 2026, up almost 80%, and working revenue of 11.4 billion yen. The inventory is down greater than 62% over the previous six months.

The drawdown has not been distinctive to Metaplanet. Technique (previously MicroStrategy), the template for a lot of Bitcoin treasury firms, launched This autumn 2025 outcomes as BTC dropped under about US$63K (AU$96K) and stated the quarter included an unrealised loss on its digital belongings of US$17.4 billion (AU$26 billion). 

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