Metaplanet, a registered corporate Bitcoin finance company registered in Tokyo, is accelerating its expansion strategy after completing its $1.4 billion international capital raise.
On September 17, the company announced that it had established a US subsidiary, Metaplanet Income Corp., which built a new revenue stream beyond the holdings of the Core Treasury Department.
According to the company, the new unit will provide a platform for derivatives and related revenue generation activities, providing revenues directed towards supporting future initiatives. The move also highlighted that it was designed to improve governance and risk monitoring while ensuring that Bitcoin operations provide consistent cash flow.
Metaplanet CEO Simon Gerovich highlighted the importance of this pivot and noted that the income unit has become an important driver of financial stability.
He said:
“This business is an engine of growth, generating consistent revenue and net profits. We have positive cash flows and generate significant internal cash flows to support future initiatives.”
Bitcoin Japan
In addition to expanding the US, Metaplanet has launched a new subsidiary in Tokyo under the name Bitcoin Japan Inc. and secured Domain Bitcoin.jp.
The domain acquired from private investors who have held it for over a decade will be the foundation of multiple initiatives, including Bitcoin Magazine Japan, Bitcoin Japan Conference and future product launches.
The company said the revenue stream from bitcoin.jp will provide stable revenue, strengthening its financial operations and funding new ventures. Domains are reserved as intangible fixed assets, but are amortized in accordance with accounting standards.
Jerovic described the acquisition as a milestone in the company’s position within the Japanese crypto landscape. He pointed out:
“As Japan’s leading Bitcoin finance company, we are the second owner of this iconic domain and we are proud to unite our media, events and services under one platform.
Bitcoin acquisition dream
The establishment of these new subsidiaries follows the completion of the company’s record-breaking $1.4 billion in capital raises from foreign investors.
Jerovic said the company’s funding has attracted attention from “a world-class hub of leading institutional investors around the world, including the largest mutual fund complex, sovereign wealth funds and hedge funds.”
According to him:
“Nearly 100 investors have joined our roadshow, and many have been listening to Metaplanet for the first time, and in the end, over 70 people have invested, creating a truly global, long-term oriented shareholder base.
Metaplanet plans to direct some of its funds towards additional Bitcoin purchases. With 20,136 BTC already on the balance sheet, the company is the sixth largest company holder of assets.
But its long-term ambition is to become Bitcoin’s second largest corporate holder after strategy (previously micro-strategic). To achieve this objective, the Japanese-based company must obtain at least 33,000 BTCs, sufficient to surpass Bitcoin Minor Marathon Digital, which currently holds 52,477 BTCs.
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