Metaplanet bitcoin strategy drives $137 million stock offering for new BTC purchases

Seeking to expand its crypto balance sheet, Metaplanet bitcoin plans now include a major equity raise to finance additional BTC reserves.

Metaplanet outlines new stock sale for Bitcoin accumulation

Tokyo-listed Metaplanet has unveiled a fresh stock offering designed to fund large-scale Bitcoin purchases. The company will issue new shares and stock acquisition rights via a third-party allotment, aiming to raise about 20.7 billion yen, or roughly $137 million. The decision was approved at a board meeting on January 29, underscoring management’s conviction in a long-term Bitcoin allocation.

According to Metaplanet, most of the proceeds will finance additional Bitcoin buys and support its growing Bitcoin income business. However, the firm also framed the deal as a way to strengthen its balance sheet while scaling operations. The move confirms that the company is doubling down on its Bitcoin treasury strategy throughout 2026.

Shares issuance details and structure of the deal

Under the plan, Metaplanet will issue about 24.5 million new common shares at a price of ¥499 per share. This primary share sale is expected to raise approximately ¥12.2 billion. Moreover, the company will issue additional stock acquisition rights, which, if exercised in full, can convert into about 15.9 million extra shares.

These rights are priced at ¥547 per share and could generate a further ¥8.8 billion in proceeds upon full exercise. Metaplanet highlighted that this multi-layered structure gives it flexibility in bitcoin purchase funding while providing investors with optionality through the warrants. That said, the eventual dilution will depend on how many of these rights are exercised over time.

The payment and allotment date for the new shares and rights is scheduled for February 13. The exercise period for the stock acquisition rights will run from February 16 to February 15 of the following year. Metaplanet noted that the offering will mainly target overseas investors, reflecting international demand for tokyo listed bitcoin exposure. Transfers of the stock acquisition rights will require prior approval from the board.

How Metaplanet will deploy the new capital

Metaplanet has provided a detailed breakdown of its planned use of proceeds. Around ¥14 billion is earmarked directly for purchasing additional Bitcoin, reinforcing its positioning as a listed BTC holding vehicle. In addition, some ¥1.5 billion will support the firm’s Bitcoin income generation business, which includes yield-oriented strategies around its digital asset reserves.

The remaining ¥5.1 billion will go toward debt repayment, helping to strengthen the balance sheet and reduce financing costs. The company reiterated its belief that Bitcoin will appreciate over the medium to long term, particularly against the Japanese yen. As a result, management aims to become one of the top global corporate Bitcoin holders by August 2026, positioning the group as a dedicated BTC treasury vehicle.

Metaplanet emphasized that it will not deploy all funds at once but instead plans to buy Bitcoin in stages. This phased approach is intended to manage price volatility and execution risk. The firm’s growing holdings will be managed through its subsidiary, Metaplanet Lightning Capital, which handles digital asset operations and risk oversight. In this context, the metaplanet bitcoin raise is a key step in scaling that platform.

Shareholder impact and ongoing business profile

Metaplanet expects only a limited impact on its 2026 financial results from the new offering, at least in the near term. However, the company pledged to disclose any material changes in performance if market conditions or Bitcoin price moves significantly alter outcomes. For investors, the combination of equity issuance and BTC accumulation presents both dilution risk and potential upside tied to future Bitcoin valuations.

After the transaction, large global financial institutions will remain among Metaplanet’s top shareholders. These include State Street, Clearstream and accounts linked to Charles Schwab. The presence of such major custodians and brokers suggests ongoing institutional interest in the firm’s equity. Moreover, the company already holds a substantial amount of Bitcoin as part of its primary bitcoin treasury strategy and has cultivated its image as a dedicated BTC treasury player in Japan.

Alongside its digital asset focus, Metaplanet continues to operate a hotel business and a Bitcoin options strategy. The firm said it will keep valuing its Bitcoin at market price every quarter, recognizing gains or losses in its earnings accordingly. That approach can introduce earnings volatility, but it also gives shareholders transparent exposure to crypto market moves.

Metaplanet in the wider corporate Bitcoin trend

Metaplanet’s latest metaplanet stock offering fits into a broader pattern of corporate bitcoin buying, where public companies raise capital specifically to add BTC to their treasuries. In the Japanese market, the firm stands out as one of the most aggressive public buyers, using equity financing to pursue rapid balance-sheet expansion rather than a cautious, incremental approach.

By launching this new stock sale, Metaplanet is once again signaling long-term confidence in Bitcoin as a store of value and strategic reserve asset. Investors will closely track how much additional BTC the company acquires through 2026 and how the market reacts to its growing holdings. Ultimately, the offering underlines that Metaplanet intends to keep building its Bitcoin position and cement its role as a prominent listed BTC vehicle.

In summary, the third-party allotment gives Metaplanet significant new firepower to expand its Bitcoin reserves, while investors gain a clearer view of the firm’s high-conviction crypto strategy for 2026 and beyond.