Japanese investment firm Metaplanet, which recently added Bitcoin to its balance sheet, expects to record its first consolidated operating profit in seven years. It anticipates generating 890 million Japanese yen ($5.8 million) in revenue for the fiscal year ending December 31, 2024, compared to 261 million Japanese yen in the previous fiscal year.
Its operating profit is expected to hit 270 million Japanese yen, up from 468 million Japanese yen in losses last year. Much of the revenue has come from Metaplanet selling Bitcoin put options, which generated 520 million Japanese yen in income. The company also operates the Royal Oak Hotel in Tokyo’s Gotanda district through its consolidated subsidiary, Wen Tokyo Co.
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