Metaplanet Overtakes Cleanspark as Fifth-Largest Corporate Bitcoin Holder
Tokyo-based Bitcoin treasury firm Metaplanet announced the latest installment in its aggressive accumulation strategy, acquiring 1,005 BTC for $108 million.
With this transaction, Metaplanet surpassed Bitcoin mining company CleanSpark, elevating its position to the fifth-largest entity holding corporate Bitcoin, according to data provider BiTBO.
Current Holdings and Worth
Metaplanet now maintains a total portfolio of 13,350 BTC, acquired at an average price of approximately $97,832 at the time of purchase, with an aggregate cost estimated around $1.31 billion. At the prevailing market price, the company’s Bitcoin treasury is valued at approximately $1.45 billion.
CleanSpark’s Position
CleanSpark holds 12,502 BTC, surpassing previous leaders Tesla, Hut 8, Coinbase, and Block Inc. by market size, though Metaplanet’s recent purchase has rendered CleanSpark the fourth-largest.
“The aggregate price per coin for our latest purchase was $107,601,” stated Metaplanet CEO Simon Gerovich. “These purchases continue to generate a BTC yield of 349% year-to-date.”
Funding via Bond Refinancing
The recent acquisition was facilitated by a strategic bond refinancing. Metaplanet’s EVO fund issued 30 billion yen ($208 million) in 0% ordinary bonds, with the proceeds specifically earmarked for Bitcoin acquisition.
Simultaneously, the issuance allowed for the buyback and cancellation of the firm’s $12 million Third Series Ordinary Bonds, effectively securing an interest-free loan to fund further Bitcoin purchases.
Stock Performance
Metaplanet Shares Jump 9% on Market Open
The company’s announcement, including its updated Bitcoin accumulation roadmap, triggered a strong positive reaction in Tokyo trading. Shares surged approximately 9% on Monday.
Looking at the stock’s performance since the start of 2025, Metaplanet shares have climbed more than 350%.
* Graph: Metaplanet share price reaction. Source: Refinitiv
Looking Ahead
Earlier this month, Metaplanet revised its long-term strategy, announcing plans to hold 100,000 BTC by 2026, a significant increase from its previous target of 21,000 BTC.
The corporation’s ambitious outlook also includes aspirations to acquire 210,000 BTC by 2027, a goal the company suggests could make it the world’s second-largest corporate Bitcoin holder if current market positions persist.
Industry Context
Metaplanet CEO Gerovich weighed in on industry sentiment, acknowledging the advice of fellow Bitcoin advocate Michael Saylor, founder of Ark Financial Technologies.
“We were influenced by Michael Saylor’s repeated messages reminding everyone that buying decisively Bitcoin is the path forward, even when prices consolidate,” Gerovich commented.
Saylor has previously stated, “I look back wishing I’d bought more,” captioning a recurring internal portfolio tracker.
