Metaplanet posts $172.5M net loss through September on unrealized BTC losses

Japan-listed Bitcoin treasury firm Metaplanet disclosed a net loss of 27.157 billion yen ($172.54 million) from January through September this year, affected by BTC losses. Over the same period, it posted cumulative revenue of 5.895 billion yen ($37.45 million) and operating profit of 3.476 billion yen ($22.08 million). During the third quarter, Metaplanet sold 10,000 BTC to demonstrate liquidity, raising 124.7 billion yen ($792.25 million) in cash, and then repurchased 11,000 BTC, increasing its holdings. As of the end of September, the company held 44,000 BTC and plans to complete its acquisition of Nasdaq-listed Super League Enterprise (SLE) in the fourth quarter.