Tokyo-listed Metaplanet disclosed it purchased 5,075 Bitcoin in Q1 2026 for about $405 million, or roughly $79,898 per coin, moving the company into the position of the third-largest publicly listed Bitcoin treasury, according to Bitcoin Treasuries data. CEO Simon Gerovich said investor materials show Metaplanet now holds 40,177 BTC on its balance sheet, with a total cost basis near $4.18 billion and an average cost of approximately $104,106 per coin.
The company reported a year-to-date BTC Yield of 2.8% for 2026 — a metric Metaplanet uses to track growth in Bitcoin holdings on a per-share basis rather than income generated across the whole treasury. Separately, Metaplanet said operating revenue from its Bitcoin Income Generation business totaled ¥2.97 billion (about $18.6 million) in Q1 fiscal 2026. That business runs collateral-secured Bitcoin option strategies in a portfolio ring-fenced from the company’s long-term BTC holdings.
For context, the same options segment produced roughly $53.7 million in revenue for fiscal 2025, leaving trailing 12-month revenue around $71.5 million, per an April 2 filing. Filings and company commentary describe a two-track approach: build the long-term Bitcoin treasury while running a segregated options business to generate cash that can be recycled into additional BTC purchases after each options cycle.
Metaplanet left its consolidated revenue and operating profit forecasts for the year ending Dec. 31, 2026 unchanged from guidance issued Jan. 26, 2026. The stock traded lower on Thursday at $302, down about 1.95% from a $308 prior close, according to Yahoo Finance.
In the broader publicly traded 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 Q1. That activity underscores how listed Bitcoin vehicles remain sensitive to price swings and capital market conditions, even as some firms continue to expand long-term holdings while monetizing through structured options strategies.