Metaplanet Seeks $880 Million to Expand Bitcoin Treasury

• Metaplanet Plans to Raise $880 Million in Equity
• Funds will be used for new Bitcoin purchases
• The company already has almost 19 thousand BTC in treasury

Metaplanet, a Japanese company focused on Bitcoin treasury strategies, announced plans to raise approximately $880 million through an international share offering. The board approved the issuance of up to 555 million new shares, which will be submitted for shareholder approval on September 1st. If approved, the transaction will increase the number of outstanding shares from 722 million to approximately 1,27 billion.

*Notice Regarding Issuance of New Shares by way of International Offering* pic.twitter.com/wvvepNrXpH

The issuance will be aimed exclusively at foreign investors, with sales in the United States limited to Qualified Institutional Buyers, in accordance with Rule 144A of the Securities Act of 1933. Metaplanet's objective is to broaden its investor base, attract long-term institutional capital and increase liquidity in global markets.

The company revealed that approximately JPY 123,8 billion (approximately US$835 million) of the funds raised will be allocated to the purchase of Bitcoin between September and October 2025. The strategy aims to expand the net asset value in BTC (BTC NAV), used as a benchmark for its preferred shares, in addition to increasing the number of BTC per share and the aggregate return.

With 18.991 BTC on its balance sheet—valued at approximately US$2,1 billion—Metaplanet already ranks seventh among the largest corporate Bitcoin holders, according to Bitcoin Treasuries data. The accumulation strategy, initiated in April 2024, has solidified the company as a regional counterpoint to Strategy (formerly MicroStrategy) in the United States.

In addition to direct BTC purchases, Metaplanet will allocate approximately $44 million to its "Bitcoin Income Business" program, which aims to generate additional revenue by selling covered call options and expanding its put options operations. The project has already yielded positive results and is expected to be expanded by December 2025.

By combining aggressive Bitcoin accumulation with cash flow generation strategies, the Japanese company seeks to strengthen its treasury, cement relationships with global investors, and create a resilient financial structure to sustain its long-term growth.