Metaplanet's stocks face a dip as top Japanese Bitcoin authority establishes a base in Miami
Metaplanet Announces Expansion to U.S. and $1.45 Billion Share Offering
Metaplanet, a Tokyo-listed hotel group, has announced its expansion to the United States and a significant share offering. The company, which has transitioned from a struggling hotel business to a Bitcoin treasury company, has seen its shares take a hit, but its stock price still boasts a 74% year-to-date increase.
On Wednesday, Metaplanet's shares changed hands around $4.06, falling nearly 4%. This dip comes after a plunge of roughly 68% over the past three months from $12.90. However, the company remains optimistic about its future, particularly in the income-generation segment.
Metaplanet Income Corp., the new subsidiary that will spearhead the U.S. expansion, will be based in Miami, Florida. The subsidiary will manage and grow income-generation activities, providing Metaplanet with a better opportunity to pursue Bitcoin price operations and related activities that produce revenue.
The income-generation segment of Metaplanet generated ¥1.13 billion ($7.7 million) in the second quarter, accounting for a significant portion of the company's total sales of ¥1.23 billion ($8.4 million). This segment generates its revenue by selling Bitcoin put options.
Simon Gerovich, the president of Metaplanet who has been involved with the company for about 10 years and led its pivot since early 2024, stated that the income-generation segment has become their engine of growth. He made these comments on Wednesday.
The $1.45 billion share offering for 385 million shares was announced around mid-September 2025, specifically reported on September 18, 2025. More than 70 investors participated in the offering, including some of the largest mutual fund complexes, sovereign wealth funds, and hedge funds.
Metaplanet owns more than 20,000 Bitcoin, worth approximately $2.3 billion. The Bitcoin put options sold by Metaplanet are profitable for buyers when Bitcoin's spot price falls below an option's given strike price. Despite the recent drop, these options may still prove lucrative given the volatility of the cryptocurrency market.
The new subsidiary will be separate from Metaplanet's Bitcoin treasury operations. Metaplanet officially closed the $1.45 billion offering of 385 million shares on an undisclosed date.
This expansion marks a significant milestone for Metaplanet, and it looks forward to its continued growth in the U.S. market.
