Metaplanet Inc., a Tokyo-listed company that has styled itself a “Bitcoin treasury company,” said on Wednesday its board resolved to raise ¥130,334 million (roughly $884 million) through an international share offering. The company plans to use these funds almost entirely to expand its Bitcoin holdings.
Under terms disclosed in the company press release, Metaplanet will allocate ¥123,818 million of the proceeds to purchase Bitcoin between September and October 2025 (about $840 million), and set aside ¥6,516 million for Bitcoin-related financial operations, including margin to support put-option selling (about $44.2 million).
The offering being floated overseas would involve up to 555 million new shares in total (180 million initially underwritten, with an option for up to 375 million additional shares depending on demand), with pricing to be set during a bookbuilding window from Sept. 9–11 and payment due in mid-September. The company said the international offering will be restricted in the U.S. to qualified institutional buyers under Rule 144A.
Massive Bitcoin Accumulation Drive
Metaplanet said the fundraise builds on a strategy first announced in 2024 to hold Bitcoin as its primary reserve asset to hedge against yen depreciation and inflation risk. As of Aug. 25, 2025, the company reported holding 18,991 BTC, with a market value of approximately ¥314.6 billion, about $2.13 billion.
The firm also noted that its Bitcoin income-generation activities, principally selling put options on BTC, are already producing revenue: Metaplanet reported ¥1,904 million in sales from that business in Q2 FY2025, and said the additional capital will be used to increase margin capacity for those operations from September through December 2025. (¥1,904 million is roughly $12.9 million at the same exchange rate.)
Metaplanet framed the international offering as a way to both accelerate its BTC accumulation and broaden its investor base among global institutional investors, saying the move would strengthen its financial foundation and support “early expansion” of its Bitcoin net asset value (BTC NAV). The board resolution was dated Aug. 27, 2025, and the company plans to seek shareholder approval on an amendment to increase the total number of authorized shares at an extraordinary meeting scheduled for Sept. 1, 2025.
The press release makes clear the offering is not an invitation to buy securities in Japan or a public offering in the United States and notes customary lock-up arrangements for major shareholders and the company during a 60-day period after delivery.
Metaplanet’s push to bulk up Bitcoin reserves comes as a small but growing number of public companies globally have been adopting crypto assets as part of corporate treasuries. Metaplanet, which repositioned itself around Bitcoin in April 2024, is among the more prominent Japanese examples of that trend.
from Crypto News: Bitcoin, Ethereum & Price Data | BlockchainReporter https://ift.tt/KUunb41
via IFTTT
