Metaplanet, a Tokyo-listed firm focused on Bitcoin treasury management, has drawn $100 million from a Bitcoin-backed credit facility to increase its Bitcoin holdings, develop its income-related business, and support potential share repurchases.

The borrowing, executed on October 31st and disclosed on November 4th, marks the first use of the company’s $500 million credit line announced in late October. 

According to Metaplanet’s statement, the proceeds will primarily be used for additional Bitcoin purchases.

The loan is collateralized by Metaplanet’s 30,823 Bitcoin, valued at around $3.5 billion, which represents about 3% of its total holdings. 

The facility has no fixed maturity date, can be repaid at any time, and carries a variable interest rate linked to U.S. benchmarks. The lender has not been publicly identified.

Metaplanet also stated that a portion of the funds will be directed to its Bitcoin income division, which earns revenue through cash-secured options strategies. 

Company filings show that the division generated ¥24.4 billion ($160 million) in revenue during Q3 2025, representing a 3.5-fold increase from the same period a year earlier.

Some of the borrowed funds may also support the firm’s ¥75 billion share buyback program, which was authorized in late October. 

The company indicated it intends to repurchase shares when its market capitalization falls below the value of its Bitcoin holdings.

The company reports that it currently holds the largest corporate Bitcoin treasury in Japan and ranks fourth globally, behind Strategy, Marathon Digital, and Hut 8 Mining. 

It has set a long-term target of holding 210,000 Bitcoin by the end of 2027.

Metaplanet works with SBI VC Trade for custody and trading operations and stated that it maintains what it considers “sufficient collateral coverage” to withstand market fluctuations without risk of liquidation.

Share this article
The link has been copied!