Metaplanet (3350), the largest bitcoin (BTC) treasury firm in Japan, announced the creation of two subsidiaries — one in Japan and another in the U.S. — along with the acquisition of the bitcoin.jp domain name to enhance its engagement with the leading cryptocurrency.
Bitcoin Japan Inc., will be located in Tokyo and will oversee a range of bitcoin-related media, conferences, and online platforms, including the internet domain and Bitcoin Magazine Japan.
The U.S. division, Metaplanet Income Corp., will be established in Miami and will concentrate on generating revenue through bitcoin-related financial products, including derivatives, as stated by the company in a post on X.
Metaplanet indicated that it launched a bitcoin income generation business in the last quarter of 2024 and aims to expand these operations with the new subsidiary. Both wholly owned subsidiaries are partially led by Metaplanet CEO Simon Gerovich.
Earlier this month, the company increased its bitcoin holdings to over 20,000 BTC. It currently ranks as the sixth-largest bitcoin treasury firm globally, with 20,136 BTC on its balance sheet, per BitcoinTreasuries data. The leading firm, Strategy (MSTR), holds 638,985 BTC.
The establishment of these subsidiaries follows the company’s announcement of plans to raise a net 204.1 billion yen ($1.4 billion) through an international share sale to enhance its BTC holdings.
On Wednesday, Metaplanet’s stock declined by 1.16%.
