Tokyo-listed Metaplanet said it purchased 5,075 Bitcoin in the first quarter of 2026 for about $405 million, roughly $79,898 per coin, elevating the company to the position of the third-largest publicly listed Bitcoin treasury, according to Bitcoin Treasuries data. CEO Simon Gerovich disclosed investor materials showing the firm now holds 40,177 BTC on its balance sheet, with a total cost basis near $4.18 billion and an average cost of about $104,106 per coin.
The company reported a year-to-date BTC Yield of 2.8% for 2026, a metric Metaplanet uses to measure growth in Bitcoin holdings on a per-share basis rather than income generated across the treasury. Separately, Metaplanet announced first-quarter fiscal 2026 operating revenue of ¥2.97 billion (about $18.6 million) from its Bitcoin Income Generation business, which executes collateral-secured Bitcoin option strategies in a portfolio kept separate from its long-term BTC holdings.
For comparison, the same segment produced roughly $53.7 million in revenue for fiscal 2025, bringing trailing 12-month revenue to about $71.5 million, per an April 2 filing. Filings indicate Metaplanet is pursuing a two-track approach: growing its long-term Bitcoin treasury while using a ring-fenced options business to generate revenue that can be recycled into additional BTC purchases once option cycles conclude.
Metaplanet left its consolidated revenue and operating profit forecast for the year ending Dec. 31, 2026 unchanged from guidance issued Jan. 26, 2026. Shares traded lower on Thursday at $302, down 1.95% from $308 at the prior close, according to Yahoo Finance data.
In the broader listed-Bitcoin landscape, holding company Nakamoto disclosed it sold 284 BTC for $20 million in March and reduced a large portion of its Metaplanet stake at a loss during the first quarter, underscoring how publicly traded Bitcoin vehicles remain highly sensitive to price swings and capital market conditions.