Metaplanet's Revenue Soars on Bitcoin Sales, Yet Faces Net Loss Amid Price Drop

Metaplanet's Revenue Soars on Bitcoin Sales, Yet Faces Net Loss Amid Price Drop

Published on

Japanese firm Metaplanet reported a remarkable 738% increase in revenue, with Bitcoin sales contributing to 95% of this growth. Despite strong operational profit, the company recorded a substantial $619 million net loss, primarily due to the recent decline in Bitcoin's price.

Metaplanet revenue jumps 738% as Bitcoin generates 95% of sales

Metaplanet reported about $40 million in operating profit but still recorded a $619 million net loss amid the Bitcoin price drop.