Metaplanet announced it had acquired 2,823 BTC after a three-month pause, completing its second-quarter accumulation under its ongoing Bitcoin Treasury Operations.
The company spent a total of 35.89 billion yen, or around $222 million, on the purchases after paying an average of over 12.7 million yen per coin. As a result, its total holdings increased from 40,177 BTC at the end of March to 43,000 BTC as of June 30.
Metaplanet’s Fresh Buy
According to the official announcement, the lower average purchase price for the quarter also reduced Metaplanet’s overall average acquisition cost from 15.51 million yen per unit to 15.3 million yen. Across its entire treasury, the company revealed investing 659 billion yen to acquire 43,000 BTC. The company also reported generating $10.95 million, or about 1.747 billion yen, in revenue from its Bitcoin Income Generation activities during the quarter.
After offsetting that revenue against its purchases, the effective acquisition cost fell to 34.14 billion yen, or about 12.093 million yen per unit.
The latest purchase moves the Tokyo-listed firm closer to its long-term Bitcoin goals, though it still has a significant distance to cover. The company has set a target of 100,000 BTC by the end of 2026, which requires it to add 57,000 more BTC in the remaining months of the year.
Stock Slumps, Expansion Continues
Despite expanding its treasury to 43,000 BTC, Metaplanet’s stock has remained under heavy pressure this year. The shares are down nearly 49% year-to-date.
Alongside its Bitcoin accumulation efforts, the company announced plans to acquire Japanese securities firm Siiibo Securities in a deal worth around $13 million. The move, which is expected to close in July, will result in the firm being rebranded as Metaplanet Securities.
CEO Simon Gerovich described the transaction as their first major acquisition and the first concrete step under Project Nova, its long-term initiative to build a Bitcoin-focused financial ecosystem in Japan.
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