Metaplanet's Bitcoin Holdings Increase Despite Financial Losses

According to Foresight News, Metaplanet has released its financial data for the third quarter, revealing a significant increase in the fair value of its Bitcoin holdings. The current valuation of Metaplanet's Bitcoin assets has reached 4.27 billion yen, approximately 27.54 million USD. This valuation surpasses the company's market capitalization at the beginning of the year. Despite the increase in the value of its Bitcoin holdings, Metaplanet reported a net loss of 2.1 million USD for the nine months ending September 30, 2024. This represents an improvement compared to the net loss of 2.7 million USD reported for the same period last year. The financial data highlights the company's ongoing challenges in achieving profitability, even as its cryptocurrency investments show positive returns.