Metaplanet, a corporate Bitcoin treasury firm listed in Tokyo, is intensifying its growth strategy after successfully raising $1.4 billion in international capital.
On September 17, the company announced the formation of a US subsidiary, Metaplanet Income Corp., to create new revenue opportunities beyond its primary treasury assets.
This new division aims to facilitate derivatives and related revenue-generating ventures, with the generated funds allocated to support future projects. The firm also underscored that this step is intended to enhance governance and risk management while ensuring Bitcoin operations yield a steady cash flow.
Simon Gerovich, the CEO of Metaplanet, underscored the significance of this shift, explaining that the income unit has emerged as a vital contributor to financial robustness.
He stated:
“This venture has become our growth engine, generating steady revenue and net income. We are cash flow positive, generating substantial internal cash flow to support our future initiatives.”
Bitcoin Japan
In addition to its US expansion, Metaplanet has launched a new subsidiary in Tokyo called Bitcoin Japan Inc. and has successfully secured the domain Bitcoin.jp.
This domain, which was purchased from a private investor who held it for over ten years, will serve as the foundation for several initiatives, including Bitcoin Magazine Japan, the Bitcoin Japan Conference, and future product launches.
The company indicated that the income generated from Bitcoin.jp will offer stable revenue streams to support its treasury activities and finance new projects. The domain will be classified as an intangible fixed asset, subject to amortization in line with accounting norms.
Gerovich described the purchase as a significant milestone in the company’s positioning within the Japanese crypto market. He added:
“As Japan’s leading Bitcoin Treasury Company, we are proud to be the second owner of this iconic domain, integrating media, events, and services under a single platform as we collaborate with partners to promote Bitcoin adoption across the country.”
Bitcoin acquisition ambitions
The formation of these new subsidiaries follows Metaplanet’s record-breaking $1.4 billion capital raise from international investors.
Gerovich mentioned that the fundraising garnered interest from a “world-class group of leading global institutional investors, including major mutual fund complexes, sovereign wealth funds, and hedge funds.”
He stated:
“Almost 100 investors participated in our roadshow, many learning about the Metaplanet narrative for the first time. Over 70 ultimately invested, creating a truly global and long-term focused shareholder base. This enables us to build stronger relationships with leading institutions worldwide and establish lasting support for our growth.”
Metaplanet intends to allocate a portion of the funds for further Bitcoin acquisitions. Currently, with 20,136 BTC on its balance sheet, the company ranks as the sixth-largest corporate holder of Bitcoin.
However, its long-term target is to become the second-largest corporate Bitcoin holder, trailing only Strategy (previously MicroStrategy). To reach this goal, the Japan-based firm needs to acquire at least 33,000 additional BTC, surpassing Bitcoin miner Marathon Digital, which currently holds 52,477 BTC.
