Summary
- Metaplanet said its Bitcoin holdings stood at 40,177 as of the first quarter, equal to about 87%% of the Bitcoin held by Japan-listed companies.
- Metaplanet said first-quarter revenue was about $19.6 million (up 251%%), while operating profit came to about $14.4 million (up 282.5%%).
- It said the first-quarter ordinary loss of about $731 million reflected accounting impairment charges caused by falling Bitcoin prices, and that it will maintain its Bitcoin accumulation strategy while pursuing growth as a Bitcoin-based infrastructure company.
Forecast Trend Report by Period
Metaplanet, often dubbed Japan’s version of Strategy, said its Bitcoin holdings have surpassed 40,000.
The company said on May 12 it held 40,177 Bitcoin as of the first quarter. That amounted to about 87% of the Bitcoin held by Japan-listed companies. The holdings were worth about $3.27 billion as of that date.
First-quarter revenue was about $19.6 million, up 251% from a year earlier. Operating profit rose 282.5% to about $14.4 million. Ordinary loss for the quarter totaled about $731 million. BlockBeats reported that the loss was driven mainly by accounting impairment charges stemming from a decline in Bitcoin prices.
Metaplanet projected full-year revenue of about $102 million, up 79.7% from a year earlier. It forecast operating profit of $72.5 million this year, an increase of about 81% from the previous year.
The company said it will continue its Bitcoin accumulation strategy. It also said it aims to grow into a Bitcoin-based infrastructure company.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
