Metaplanet Buys 2,823 BTC, Still 57,000 Short of 2026 Goal

Metaplanet said it purchased 2,823 BTC after a three-month lull, completing its second-quarter buying under its ongoing Bitcoin Treasury Operations. The company spent 35.89 billion yen (about $222 million), paying an average of more than 12.7 million yen per bitcoin. Total holdings rose from 40,177 BTC at the end of March to 43,000 BTC as of June 30. Metaplanet noted that the quarter's lower average entry price reduced its overall average acquisition cost to 15.3 million yen per BTC from 15.51 million yen. Across its treasury, it said it has invested 659 billion yen to acquire 43,000 BTC. The firm also reported $10.95 million (about 1.747 billion yen) in revenue from its Bitcoin Income Generation activities during the quarter. After netting that revenue against purchases, the effective acquisition cost fell to 34.14 billion yen, or roughly 12.093 million yen per BTC. The latest buying pushes the Tokyo-listed company toward its longer-term accumulation plan. Metaplanet is targeting 100,000 BTC by the end of 2026, leaving it 57,000 BTC short. Shares have stayed under pressure despite the larger treasury position, with the stock down nearly 49% year to date. Metaplanet also announced plans to acquire Japanese securities firm Siiibo Securities in a deal worth about $13 million. The transaction is expected to close in July, after which the business will be renamed Metaplanet Securities. CEO Simon Gerovich called it the company's first major acquisition and the first concrete step under Project Nova, its long-term effort to build a Bitcoin-focused financial ecosystem in Japan.