Japanese bitcoin treasury firm Metaplanet raises $1.4 billion in international offering

Japan-based bitcoin treasury company Metaplanet (ticker MTPLF) will issue 385 million new shares to fund its ongoing bitcoin stacking campaign. The company's board of directors approved a new international offering of stock in late August, according to an announcement on Tuesday.

Metaplanet will offer the stock to international buyers at JPY 553 (~$3.75) per share, raising about $1.4 billion. The firm initially planned to only issue 180 million new shares before upsizing the round.

"The estimated net proceeds of JPY 204,123 million from the International Offering are expected to be applied to: (i) Purchase of Bitcoin: JPY 183,711 million [$1.2 million] (ii) Bitcoin Income Generation Business: JPY 20,412 million [$138,000]," the filing read.

As of Sept. 1, the Tokyo-listed company holds over 20,000 bitcoins since beginning purchases in 2024. Metaplanet generates additional revenue by trading bitcoin options, reportedly earning JPY 1,904 million in sales revenue from this business in the second quarter of 2025.

On Monday, the firm disclosed it purchased an additional $15 million in bitcoin, bringing its total holdings to 20,136 BTC, making it the sixth-largest publicly traded bitcoin treasury company behind Strategy, Mara, XXI, Bitcoin Standard Treasury Company, and Bullish.

"In light of the current severe economic conditions in Japan—characterized by elevated levels of national debt, prolonged real negative interest rates, and an ongoing depreciation of the yen — the Company disclosed in ‘Strategic Treasury Transformation and Bitcoin Adoption by Metaplanet’ dated May 13, 2024 that it has transitioned its treasury management policy to strategically adopt BTC as its primary reserve asset," the firm wrote in a statement. 

MTPLF closed down 2.8% to $4.49, with a market capitalization of $3.6 billion, according to The Block's price page.