Metaplanet projects it will turn its first operating profit since 2017 and said it wants to go beyond just buying Bitcoin as part of its treasury strategy.
Bitcoin stacking firm Metaplanet expects to record its first consolidated operating profit in seven years just months after adding the cryptocurrency to its balance sheet for the first time.
The Japanese investment firm on Dec. 18 said it expects to generate 890 million Japanese yen ($5.8 million) in revenue for the fiscal year ending Dec. 31, 2024, compared to just 261 million Japanese yen in the previous fiscal year. It tipped its operating profit to hit 270 million Japanese yen, up from 468 million Japanese yen in losses last year.
Metaplanet says much of this revenue has come from it selling Bitcoin (BTC) put options, which have generated 520 million Japanese yen in income.
