Metaplanet Beats Bitcoin Income Forecast as FY2025 Revenue Jumps

Key Insights:

• FY2025 Bitcoin income revenue reached JPY 8.581B, above revised guidance of JPY 6.300B and initial JPY 3.0B.
• Q4 FY2025 income revenue was JPY 4.242B. It was up 74% from Q3’s JPY 2.438B and over 6x Q4 FY2024’s JPY 691.6M.
• Bitcoin price traded near $88,500, up about 1% in 24 hours.

Metaplanet Inc. said revenue from its Bitcoin Income Generation business rose above its latest guidance for FY2025. In a Dec. 30, 2025, notice, the company reported a steady quarterly rise in that revenue line.

Metaplanet also said it is reviewing the effect on its consolidated earnings forecast for the year ended Dec. 31, 2025.

Metaplanet News: FY2025 Revenue Clears Revised Guidance

Metaplanet news said it expects operating revenue of JPY 4.242B from the Bitcoin Income Generation business in Q4 FY2025.

For the full fiscal year, revenue from the unit reached JPY 8.581 billion. It was above the company’s revised guidance of JPY 6.300 billion.

Metaplanet said it had originally guided for JPY 3.0 billion earlier in 2025, before updating the outlook in October.

Metaplanet News | Source: X

The notice showed revenue climbing from JPY 691.6 million in Q4 FY2024 to JPY 770.3 million in Q1 FY2025. That’s a quarter-on-quarter increase of 11.4%.

Revenue rose to JPY 1,130.6 million in Q2. It then climbed to JPY 2,438.0 million in Q3, representing 46.8% and 115.7% quarter‑on‑quarter increases. Q4 revenue was JPY 4,241.8 million, or 74.0% growth from Q3.

Metaplanet said Q4 FY2025 revenue was more than six times higher than Q4 FY2024. It cited a compounded quarterly growth rate of about 57.4% over that period.

What Metaplanet Counts as Bitcoin Income Revenue

Metaplanet stated that the Bitcoin Income Generation business utilises Bitcoin derivatives to generate recurring revenue. It also supports medium‑ to long‑term Bitcoin accumulation.

The company executes collateral-secured Bitcoin option strategies within a dedicated income generation portfolio. Under Japanese GAAP, Bitcoin held in that portfolio is classified as current assets.

Metaplanet news showed that the Bitcoin business supports its capital strategy by generating recurring operating revenue.

Revenue from the business includes option premiums received. It also reflects realized gains, losses, and period‑end valuation changes tied to the income portfolio.

The company said the revenue figures exclude unrealized gains or losses on Bitcoin that it designates as long-term holdings.

The company said derivative underwriting remains limited to assets in the income portfolio. It added that the activity is operationally separated from long‑term Bitcoin holdings.

Bitcoin Treasury Disclosures Continue into Late December

Metaplanet published the income notice on the same day. It also listed a “Notice of Additional Purchase of Bitcoin” among its latest shareholder disclosures. The company has used regular filings to report Bitcoin purchases and related capital actions during 2025.

Metaplanet said capital in the income portfolio may shift into long‑term Bitcoin holdings. It described the move as part of its accumulation strategy. It also said it does not redeploy long-term Bitcoin back into income-generating activities.

In its description of the capital structure role, Metaplanet said longer-duration Bitcoin holdings can support its financing profile. This includes outstanding preferred equity instruments and other long-duration financing arrangements.

Consolidated Outlook Update Under Review

Metaplanet said it is reviewing the effect of the Bitcoin income results on its consolidated earnings forecast for FY2025. The notice included a table comparing initial guidance, revised guidance, and FY2025 results for the income unit.

Market reports said Metaplanet bought 4,279 BTC in Q4 2025 for about $451 million. The company paid an average price of $105,412 per Bitcoin. That reporting said the purchase lifted total Bitcoin holdings to 35,102 BTC.

Bitcoin price traded at $88,500, up 1% over the last 24 hours. The move followed an early dip near $87,490 before buyers pushed the price toward the $89,000 area. Despite the gain, 24-hour trading volume fell about 23% to $35.45 billion, suggesting lighter activity during the rebound.

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