Metaplanet Seeks $137 Million to Fuel Bitcoin Strategy and Reduce Debt

The Japanese company Metaplanet, which has strategically pivoted to focus on Bitcoin treasury management, is moving forward with a significant capital raise. The firm aims to secure up to 21 billion yen, equivalent to approximately $137 million, through the issuance of new equity. The proceeds are earmarked for debt reduction and for expanding its holdings of the cryptocurrency.

In a concurrent update, Metaplanet has raised its full-year earnings forecast. The company attributes this improved outlook to stronger-than-anticipated revenue generated from its Bitcoin income operations.

The capital initiative involves issuing 24.53 million new shares at a price of 499 yen each, supplemented by a rights offering with a predetermined exercise price. The allocation and payment for these shares is scheduled for February 13, 2026. According to the company's plan, 5.2 billion yen of the total funds raised will be used to partially repay existing liabilities. The remaining capital is designated for purchasing additional Bitcoin and for general corporate purposes.

Should investors sell immediately? Or is it worth buying Metaplanet?

Key Details of the Financing Plan:
* Total target raise: 21 billion yen ($137 million)
* New shares to issue: 24.53 million at 499 yen per share
* Date of allocation: February 13, 2026
* Use of funds: Debt repayment (5.2 billion yen); Bitcoin acquisition and corporate uses (remainder)

Strategic Shift and Market Performance

Metaplanet's transformation from its original business model into a dedicated Bitcoin treasury firm is now the central driver of its corporate strategy. This shift has historically been a major influence on the company's share price, which is expected to continue.

The stock has experienced recent short-term volatility and, like the asset it is accumulating, reflects market fluctuations. The company recently recorded a substantial impairment charge on its Bitcoin reserves—an accounting entry that does not impact operational cash flow but mirrors the volatility of the cryptocurrency's market value. Nevertheless, when viewed over a three-year horizon, shareholders have seen a significantly positive overall return.