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Today in crypto, Metaplanet posted strong first-quarter operating income driven by Bitcoin options revenue, but swung to a $728 million loss as BTC price declines triggered valuation markdowns, and US senators filed over 100 amendments to a key crypto bill, and have continued to push for an ethics provision to drum up bipartisan support to pass a Senate floor vote.
Tokyo-listed Metaplanet reported first-quarter operating income Wednesday of 2.27 billion Japanese yen (roughly $14.38 million) on net sales of about $19.5 million, implying an operating margin of 73.6% as surging Bitcoin option income more than tripled revenue from a year earlier, according to the company’s Q1 fiscal year 2026 earnings release.
The strong operating performance contrasted with an ordinary loss of around $728 million, driven mainly by non-cash valuation losses as Bitcoin’s price declined during the period, and the company marked its expanding Bitcoin (BTC) holdings lower.
