Metaplanet rides Bitcoin plan to record Q2 profit and asset growth

Bitcoin treasury company Metaplanet has seen its biggest quarterly performance in Q2 of 2025, thanks to BTC gains. The latest earnings report from the Japanese company disclosed gains across all metrics.

The company President, Simon Gerovich, disclosed this on X in a comment that attracted positive reaction from Eric Trump, noting that it is Metaplanet’s strongest quarter.

Gerovich said:

“This is the strongest quarter in Metaplanet’s history.”

The numbers back this up with Metaplanet’s earnings report showing that its revenue was 1.239 billion yen ($8.4 million), representing a 41% gain compared to Q1. Other metrics also increased with the company seeing 816 million yen ($5.5 million) gross profit and 17.4 billion yen ($117.8 million) as ordinary profit.

The biggest increase was in its assets. At the end of Q2, the company saw a 333% rise in assets with 238.2 billion yen ($1.61 billion) while net assets also increased by 299% to reach 201 billion yen ($1.36 billion).

With revenue and assets increasing, Metaplanet’s Bitcoin yield for Q2 was also 129.4% with Bitcoin per fully diluted outstanding shares now at 0.0161511, far above the 0.0070392 at the end of March 2025.

Metaplanet’s massive accumulation pace is driving strong performance

Metaplanet’s strong performance in Q2 of 2025 is mostly due to a surge in its BTC holdings, coinciding with Bitcoin’s positive performance in that period. The company, which started buying BTC in 2024, doubled down on the accumulation of BTC in the second quarter of 2025, with its holdings going from  4,046 by the end of Q1 to 13,350 BTC by the end of Q2.

Interestingly, the company, which many refer to as the MicroStrategy of Asia due to its implementation of Michael Saylor’s Strategy (formerly MicroStrategy) BTC treasury model, remains in accumulation mode.

Its latest BTC purchase was on August 12, taking its total BTC holdings to 18,133 BTC. This is in line with its revised ambitious target of accumulating 35,000 BTC by the end of  2025, more than double the previous 10,000 BTC target.

The company now wants to own 100,000 BTC by the end of 2026 and control 1% of the Bitcoin supply with 210,000 BTC by the end of 2027. With its ambitious accumulation target, it also aims for a 600% full-year yield target in three years.

Metaplanet stock is still below 1,000 yen despite recent gains

Unsurprisingly, the company has been exploring new ways to raise capital for its purchase. Earlier this month, it announced a plan to raise 555 billion yen ($3.7 billion) by issuing perpetual preferred shares, a strategy similar to what Strategy has also deployed to raise billions for buying BTC.

Meanwhile, Metaplanet’s stock on the Tokyo Stock Exchange (TYO: 3350) has seen a slight increase in value today and gained 6% in the past five days, according to data from Google Finance.

This represents a positive reaction to its performance and has pushed its stock to 993 yen ($6.74).  The stock is up 54% in the past six months and has gained 177.76% year-to-date.

However, it remains well down from its most recent peak of 1,781 yen ($12.09) from June 20 and is currently trading at a 36.26% loss over the past 30 days. Its stock performance in the short term is similar to that of Strategy’s MSTR, which is also down 9.25% within that period, even though Bitcoin only fell 1.38% in the last 30 days.

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