Bitcoin treasury company Metaplanet reported a strong operating performance in the first half of 2026. The profit was made despite the price drop of BTC, resulting in a huge accounting loss.
Metaplanet Posts Massive Profit In H1
Metaplanet’s revenue for the six-months ending June 30 was ¥4.944 billion, or approximately $33 million, up 133.7% from the previous six months. The company’s operating profit jumped 136.3% on year to ¥3.331 billion ($20.3 million), in its latest earnings report.
The Bitcoin treasury company, however, reported a net loss of ¥182.774 billion ($1.2 billion) against a net profit of ¥6.059 billion in the previous year. The turnaround was mainly triggered by an unrealized Bitcoin valuation loss of ¥184.297 billion. This loss occurred when the Bitcoin price in yen fell through June 30.
The company pointed out that the decline in the valuation of Bitcoin was a non-cash accounting item, and the company sold no Bitcoin during the period. However, Metaplanet managed to accumulate 7,898 Bitcoin worth during the first half. It grew its total holdings from 35,102 BTC at the close of 2025 to 43,000 BTC by June 30.
Factors Behind Growing Income
Its Bitcoin Income business became a huge factor in business performance. Its segment revenue was ¥4.742 billion, compared to ¥1.904 billion a year ago, and its segment profit jumped to ¥4.279 billion from ¥1.641 billion. It reported that it earned the majority of its revenue from Bitcoin derivatives trading, with ¥4.583 billion coming from option premium income.
In addition, Metaplanet reported that its holdings of the token have grown by 9.6% in the past six months despite the recent volatility in the market. This shows that the company’s Bitcoin treasury strategy is progressing well, according to experts.
The company also stuck to its full-year profit forecast. However, it admitted the pace has been slower than first expected because of the challenges of weaker financing conditions and the Bitcoin market.
Recently, the company stirred controversy by transferring 3,881 BTC, which was later clarified as a routine transfer.
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