Metaplanet Drops $132M in Bitcoin on US Gaming Expansion

Metaplanet Inc., through its U.S. subsidiary, is expanding its Bitcoin (BTC) treasury strategy into the U.S. The company has agreed to contribute 2,100 BTC valued at approximately $132.1 million, along with $2.5 million in cash, to gaming media company Super League Enterprise Inc. (NASDAQ:SLE).

The total investment accounts for almost 4.9% of Metaplanet’s current 43,000-BTC holdings. In exchange, Metaplanet will receive 44.86 million common shares priced at $3 each, preferred stock, and warrants.

Following the transaction, Super League will be renamed Superplanet Inc., trade under the ticker SUPA, and become a consolidated Metaplanet subsidiary. Metaplanet is expected to own around 95.7% of Superplanet’s outstanding common stock.