Metaplanet swings to $170M loss as Bitcoin sale hits earnings
Bitcoin sales, valuation losses and rising borrowing costs weighed on the Japanese company’s earnings despite higher revenue and operating profit.
Metaplanet, the world's second-largest publicly traded corporate Bitcoin holder, reported a $170 million net loss for the first nine months of 2026, despite higher revenue and operating profit. The company's losses were attributed to declines in Bitcoin's value, a loss on the sale of 10,000 BTC, and increased borrowing costs. Metaplanet sold 10,000 BTC for 124.7 billion yen, later spending 149.9 billion yen to purchase 11,000 BTC at a 9.3% higher average price per coin.
The company borrowed against its Bitcoin holdings during the quarter, increasing its debt under the credit line to $649.5 million by the end of September. Metaplanet's interest expense rose by 56% to 1.36 billion yen ($8.5 million) during the quarter. The company's full-year revenue forecast was cut to $40.6 million from $100 million.
Bitcoin treasury companies face pressure from index removals and falling Bitcoin prices, with Metaplanet's earnings coming as such companies deal with these challenges.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
