Metaplanet acquired 5,075 Bitcoin during the first quarter of 2026, spending approximately $405 million at an average price of about $79,898 per coin.

The purchase has positioned the Tokyo-listed firm as the third-largest publicly traded Bitcoin treasury company, according to Bitcoin Treasuries data. Following the latest acquisition, the company now holds 40,177 Bitcoin (BTC) on its balance sheet. Investor materials shared by CEO Simon Gerovich show that the total cost basis stands at roughly $4.18 billion, with an average purchase price of $104,106 per Bitcoin.

Metaplanet also reported a year-to-date BTC Yield of 2.8% for 2026, a proprietary metric that measures growth in Bitcoin holdings per share rather than traditional income generation.

Dual strategy combines accumulation and income generation

Alongside its treasury expansion, the company continues to develop a revenue-generating strategy tied to Bitcoin derivatives. For the first quarter of fiscal 2026, Metaplanet reported operating revenue of 2.97 billion Japanese yen, equivalent to about $18.6 million, from its Bitcoin Income Generation segment. This business utilizes collateral-backed Bitcoin options strategies within a dedicated portfolio that is separate from the company’s long-term holdings.

The performance builds on full-year fiscal 2025 revenue of approximately $53.7 million from the same segment, bringing total trailing 12-month revenue to around $71.5 million, according to an April 2 filing.

The filings indicate that Metaplanet is pursuing a two-pronged approach, combining long-term accumulation of Bitcoin with an options-based strategy designed to generate income that can later be reinvested into additional BTC purchases.

Capital recycling and market response

The company plans to channel proceeds from its income-generating activities into further Bitcoin acquisitions once option cycles are completed, effectively converting derivatives revenue into long-term holdings over time. Metaplanet maintained its full-year financial outlook for 2026, leaving both revenue and operating profit guidance unchanged from projections issued in January.

Despite the announcement, the company’s share price declined slightly. Metaplanet stock traded at $302 on Thursday, down 1.95% from the previous close of $308, according to Yahoo Finance data.

Meanwhile, activity across the broader Bitcoin treasury sector reflects ongoing sensitivity to market conditions. Another listed firm, Nakamoto, disclosed that it sold 284 BTC for $20 million in March and reduced a significant portion of its Metaplanet stake at a loss during the first quarter, highlighting how corporate Bitcoin strategies remain closely tied to price volatility and capital market dynamics.

Sources:

https://cointelegraph.com/news/metaplanet-adds-5-075-btc-in-q1-bitcoin-options

https://x.com/gerovich/status/2039605432453681184

https://finance.yahoo.com/quote/3350.T/

https://bitcointreasuries.net/