Metaplanet sets up Miami subsidiary for bitcoin derivatives strategy

Metaplanet (MTPLF), a Tokyo-listed firm pursuing a bitcoin-treasury strategy, said its board approved a new U.S. subsidiary, Metaplanet Income Corp., to scale a growing “bitcoin income generation” line focused on derivatives and related activities.

The company said the Miami-based unit will be wholly owned by Metaplanet Holdings, Inc., with initial capital of $15 million, and will operate separately from its core treasury holdings to balance risk management.

Wednesday’s announcement formalizes a business Metaplanet launched in late 2024 that the firm says has produced “consistent and growing revenue and net income.”

“This business has become our engine of growth,” CEO Simon Gerovich wrote on X . In June, the Japanese bitcoin treasury entity announced plans for a $5 billion raise to back its U.S. subsidiary.

Leadership for the new entity includes Gerovich himself, alongside directors Dylan LeClair and Darren Winia. Metaplanet does not expect a material impact on full-year 2025 results and said it will make additional disclosures as needed under Tokyo Stock Exchange rules.

The U.S. build-out follows an international equity offering that Metaplanet touted as a step toward expanding its bitcoin net asset value and institutional base.  In a separate Q&A released this week, the company said overseas fundraising is intended to accelerate BTC acquisitions, support future capital policy, and position Metaplanet among the world’s largest corporate bitcoin holders after Michael Saylor’s BTC treasury firm Strategy.

Gerovich also told followers on X that the offering drew participation from large mutual fund groups, sovereign wealth funds, and hedge funds, calling it an endorsement of the firm’s bitcoin strategy and a foundation for “the next phase” of growth. The Block reported $1.4 billion raised by the firm from its international offering, more than the initial $880 million target .

Metaplanet has regularly funneled cash into BTC purchases, while diversifying its capital formation pathways and building its U.S. footprint. Last week, the Tokyo-based company increased its bitcoin holdings to 20,136 BTC , a stack worth over $2.3 billion, according to The Block’s data dashboard.