Inside Metaplanet’s Bitcoin Treasury Strategy

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Metaplanet’s Bitcoin accumulation is driven by a structured treasury strategy combining operating income, capital market activity, and Bitcoin-backed credit facilities.

The company uses a proprietary BTC Yield metric that measures changes in Bitcoin holdings per fully diluted share, helping investors track shareholder accretion while accounting for equity dilution. In 2025, quarterly BTC Yield results included 95.6%, 129.4%, 33.0%, and 11.9%, contributing to the headline annual figure.

Management emphasizes that BTC Yield is a strategic KPI, not a measure of realized profit, offering insight into accumulation efficiency rather than short-term financial performance.