Japan's Metaplanet announces new developments in its Bitcoin accumulation strategy. As of September 1, the firm purchased 1,009 BTC, raising its total holdings to 20,000 BTC.
New Bitcoin Acquisition
Metaplanet purchased 1,009 bitcoins worth 16.479 billion yen (approximately $110 million) at an average price of 16.3 million yen per Bitcoin. This brought the total amount to 20,000 BTC, with an average purchase price of 15.1 million yen per BTC.
Financial Results and Projections
Metaplanet reported a profit of 11.1 billion yen ($75.1 million) in the second quarter. The firm forecasts full-year revenue of 3.4 billion yen ($23.1 million) and operating profit of 2.5 billion yen (approximately $17 million). President Simon Gerovich noted a growth in the Bitcoin income generation business for three consecutive quarters.
Capital Raising Plan
The company aims to raise approximately 130.3 billion yen ($884.41 million) through a public share offering in overseas markets. Shareholders are expected to vote on the issuance of up to 555 million new shares, intending to boost capital without diluting existing shareholder stakes. Adviser Eric Trump is also expected to attend the firm's shareholder meeting in Tokyo.
These actions demonstrate Metaplanet's commitment to strengthening its position in the Bitcoin market and its readiness to adapt to changes in the market environment.
