Metaplanet Sees H1 Profit Despite BTC Price Crash

Metaplanet, a Bitcoin treasury company, reported a strong operating performance in the first half of 2026 despite a significant drop in the price of BTC. The company's revenue for the six-months ending June 30 was ¥4.944 billion (approximately $33 million), up 133.7% from the previous six months.

The operating profit jumped 136.3% on year to ¥3.331 billion ($20.3 million) in its latest earnings report. However, Metaplanet reported a net loss of ¥182.774 billion ($1.2 billion) due to an unrealized Bitcoin valuation loss of ¥184.297 billion.

The company pointed out that the decline in the valuation of BTC was a non-cash accounting item and that it sold no BTC during the period. Despite this, Metaplanet managed to accumulate 7,898 BTC worth during the first half, growing its total holdings from 35,102 BTC at the close of 2025 to 43,000 BTC by June 30.