Surges to become the world’s No. 3 largest Bitcoin company—whale! Metaplanet invests an additional $400 million to ramp up purchases and accumulate more.

Tokyo-listed company Metaplanet continues to add to its Bitcoin holdings, and CEO Simon Gerovich announced on Thursday that the company bought 5,075 bitcoins for roughly $405.48 million in the first quarter of 2026. As of March 31, its bitcoin holdings have reached 40,177 coins.

During Q1 2026, Metaplanet acquired 5075 BTC for $405.48 million at ~$79,898 per bitcoin and has achieved BTC Yield of 2.8% YTD 2026. As of 03/31/2026, we hold 40,177 $BTC acquired for ~$4.18 billion at ~$104,106 per bitcoin. $MPJPY $MTPLF pic.twitter.com/IMxC3lwYCx

— Simon Gerovich (@gerovich) April 2, 2026

According to BitcoinTreasuries data, this latest increase in holdings allowed Metaplanet to leapfrog the miner MARA Holdings, which recently sold off $1.1 billion worth of bitcoin, and become the world’s No. 3 Bitcoin corporate whale, only behind Strategy, which holds 762,099 bitcoins, and Twenty One Capital, which holds 43,514 bitcoins and is backed by Tether.

In its announcement, Metaplanet said that the 5,075 bitcoins it added in the first quarter had an average cost of about $79,898 per coin. Estimates indicate that, to date, Metaplanet has invested about $4.2 billion to buy bitcoin, bringing the overall average cost to $104,106 per bitcoin.

Metaplanet also disclosed that the “bitcoin yield business” it drives generated revenue of 2.969 billion Japanese yen (about $18.6 million) in the first quarter of 2026. This business mainly works by using flexible options strategies to smooth out the company’s overall bitcoin purchase costs.

In addition, Metaplanet released its quarterly performance indicators as of March 31: its “BTC Yield” (the rate of change in the ratio of total bitcoin holdings to the number of shares outstanding on a fully diluted basis) reached 2.8%. Meanwhile, the bitcoin holdings growth metric “BTC Gain” after excluding the impact of equity dilution was 876 coins, which was slower than the 3,672 coins in the prior quarter.

Looking back at last month, Metaplanet had just completed a $255 million fundraise. If the warrants are exercised, the total amount raised could be as high as $531 million, providing ample cash for subsequent buy-in actions, with the ultimate goal of holding 210,000 bitcoins before 2027.

Besides expanding its bitcoin holdings, Metaplanet has also simultaneously pushed a broader digital asset strategy, including establishing a venture capital subsidiary and an asset management business unit, as well as making a strategic investment in Japan’s stablecoin JPYC.