Metaplanet posted higher operating profit for the first quarter, supported by income from bitcoin holdings. The company nevertheless recorded a $728 million loss from valuation markdowns after bitcoin prices fell sharply.
Metaplanet achieved stronger operating profit in the first quarter compared with prior periods. Income linked to bitcoin investments helped drive the improvement in results.
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Metaplanet completed the purchase of Tokyo-based Siiibo Securities in a deal worth about 2.1 billion yen. The acquisition supports the company's Project Nova initiative to develop Bitcoin-linked financial products.
Strategy, the largest corporate holder of bitcoin, reported a $12.77 billion net loss for the first quarter while its bitcoin holdings grew. Chief executive Michael Saylor signaled the company may sell some of its bitcoin to stabilize the market.
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CleanSpark posted a net loss of $378.3 million for the quarter ending March 31, more than double the prior year's figure, as a non-cash bitcoin adjustment weighed on results.
Tether, the issuer of the largest stablecoin USDT, announced a first-quarter net profit of $1.04 billion for 2026. The company's excess reserves reached a record $8.23 billion, with total assets nearing $192 billion against liabilities of about $183.5 billion. Reserves include significant holdings in U.S. Treasuries, gold, and bitcoin.
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Bitcoin has fallen sharply in recent days, with prices trading near $63,500 after dropping below $62,000 at times. Strategy sold 32 Bitcoin last week, its first such move in over three years, while chairman Michael Saylor attributed the decline to capital rotation into artificial intelligence.
Bitcoin climbed above $82,000 on May 6, driven by reports of easing tensions between the United States and Iran. Oil prices fell sharply as President Donald Trump paused a military operation in the Strait of Hormuz. The move triggered more than $200 million in short liquidations.
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Bitcoin dropped below 60000 on June 5 amid stronger than expected US jobs figures and ongoing capital shifts toward AI.