ChainCatcher message, Bitcoin treasury company Metaplanet released its fiscal report for the year 2025 on Monday, recording a net loss of 95 billion yen (equivalent to 619 million USD) for the period ending December 31, compared to a net profit of 4.44 billion yen (equivalent to 28.9 million USD) in the fiscal year 2024, marking a shift from profit to loss.
The financial report shows that this loss primarily stems from a valuation loss of 102.2 billion yen (equivalent to 665.8 million USD) on its Bitcoin holdings. The company categorizes this portion of the loss as non-operating expenses and states that it has no impact on cash flow or operating activities.
Despite the volatility of net profit, the company still emphasizes that its capital structure is resilient. Metaplanet pointed out that its balance sheet remains 'robust', even in the case of an '86% drop in Bitcoin prices', its liabilities and preferred shares can be fully covered, thanks to a capital ratio of up to 90.7%.
As of December 31, the company reported liabilities of 46.7 billion yen (approximately 304.2 million USD) and net assets of 458.5 billion yen (approximately 2.99 billion USD), with its Bitcoin holdings valued at 481.5 billion yen (approximately 3.1 billion USD).
Documents show that in terms of operations, Metaplanet's revenue for the fiscal year 2025 reached 8.91 billion yen (approximately 58 million USD), a 738% increase from the previous year's 1.06 billion yen (approximately 6.9 million USD); at the same time, operating profit surged from 350 million yen (approximately 2.28 million USD) to 6.29 billion yen (approximately 41 million USD), an increase of 1695%.
The company stated that its Bitcoin-related business generated revenue of 8.47 billion yen (approximately 55.2 million USD) and operating income of 7.19 billion yen (approximately 46.8 million USD), with this growth mainly attributed to premium income from Bitcoin options trading.