Metaplanet Inc. has announced plans to raise approximately about $137 million through a targeted stock offering and associated stock acquisition rights as part of its ongoing strategy to accumulate Bitcoin. The move underscores the company’s continued commitment to expanding its BTC holdings and strengthening its balance sheet.
Capital Raise Structure
According to official filings, Metaplanet Inc., a Tokyo-listed Bitcoin treasury firm, will issue 24.53 million newly issued common shares at a price of ¥499 per share (roughly $3.35), generating an estimated ¥12.24 billion ($78 million) in upfront capital. The offering is being executed as a third-party allotment aimed primarily at overseas institutional investors, a structure that allows the firm to secure committed funds quickly and deploy them toward strategic objectives.
In addition to ordinary shares, the company will issue 159,440 stock acquisition rights, each granting the option to purchase 100 shares at a fixed exercise price of ¥547 ($3.70) over the next year. If fully exercised, these warrants could generate an additional ¥8.8 billion ($56 million) in capital, bringing the total potential proceeds to the targeted ¥21 billion ($137 million).
The combined offering is designed to balance immediate capital needs with longer-term flexibility, spreading dilution over time while aligning incentives with investor confidence in Metaplanet’s mid- to long-term growth.
Primary Uses: Bitcoin Accumulation and Debt Management
Metaplanet says it intends to use the bulk of the raised funds to acquire additional Bitcoin, reinforcing its position as one of the fastest-growing corporate BTC holders. This approach is central to its identity as a Bitcoin treasury company, a model similar to that used by some U.S. firms, like Strategy, which hold digital assets as strategic reserve assets.
A portion of the capital, around ¥5.2 billion ($35 million), is earmarked for partial repayment of existing debt, which management says will improve financial flexibility and reduce interest obligations. The inclusion of debt repayment as a use of proceeds may fortify investor confidence, particularly in a capital markets context where balance sheet strength is scrutinized.
Metaplanet’s Expanding Bitcoin Treasury
Metaplanet’s Bitcoin accumulation strategy has evolved steadily over the past year. Since its reorientation toward BTC in 2024 and formal designation of Bitcoin treasury operations in late 2024, the company has acquired tens of thousands of BTC through a mix of share offerings, bond issuances, and stock acquisition rights.
According to company disclosures, Metaplanet’s Bitcoin holdings surpassed 35,000 BTC by the end of 2025 and now stand at 35,102 BTC, making it one of the world’s largest corporate Bitcoin holders. These holdings are part of a broader strategy that seeks to maximize BTC per share while managing capital allocation prudently.
Metaplanet has also previously raised capital and issued bonds specifically for Bitcoin purchases, demonstrating a persistent reliance on capital market instruments to fund BTC accumulation rather than traditional earnings or internal cash flows.
The CoinRemark Team
Josiah Oluwadare
Evans Kelvin
