Metaplanet Inc., the strategic software and digital asset holding firm, announced today a substantial non-cash impairment charge totaling $680.5 million stemming from its Bitcoin treasury holdings during the third quarter of 2024. The write-down was necessitated by fluctuating Bitcoin prices and mandatory GAAP accounting rules, which require assets to be recorded at the lowest point of the quarter if the price falls below the initial purchase price.
Despite this significant short-term financial hit, the company simultaneously surprised analysts by raising its full-year 2026 financial outlook. Metaplanet now projects its 2026 adjusted EBITDA to exceed $1.2 billion, a 14% increase over previous forecasts. Management attributed the enhanced long-term guidance not to crypto appreciation, but rather to exceptional performance in its core enterprise SaaS division and successful contract acquisitions in the European market.
CEO Marcus Chen stated, “While the accounting write-down reflects short-term market volatility and the inherent limitations of current regulatory reporting for digital assets, our operational momentum has never been stronger. The increased 2026 outlook confirms that our underlying business health provides a significant buffer, ensuring Metaplanet’s valuation is driven by sustainable revenue growth, regardless of temporary fluctuations in our treasury strategy.” The market reacted positively to the news, focusing on the strong operational signals underpinning the revised forecast.
Source: Metaplanet raises 2026 outlook as Bitcoin write-down tops $680M
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