Metaplanet draws $130M BTC-backed loan for share buybacks, BTC purchases

Metaplanet (TYO: 3350, OTCQX: MTPLF) executed a $130 cardinal indebtedness connected November 21 nether its bitcoin-backed recognition installation to money further bitcoin acquisitions and enactment imaginable stock buybacks, according to a institution announcement dated November 25.

The recognition enactment brings Metaplanet’s full borrowings nether the $500 cardinal installation to $230 million. Metaplanet reported holding 30,823 BTC, which it valued astatine $3.5 cardinal arsenic of October 31, saying that it has “sufficient collateral headroom” to overcollateralize the indebtedness successful the lawsuit bitcoin’s terms draws down from here.

Metaplanet did not disclose the loan’s involvement rate, and the institution said that it is “[r]epayable astatine immoderate clip astatine the Company’s discretion” and that presumption for the indebtedness “[a]utomatically renewed [on] a regular basis”

Metaplanet said proceeds volition spell toward bitcoin purchases, scaling its Bitcoin Income Generation business, and stock repurchases depending connected marketplace conditions. Metaplanet did not place the lender astatine their request.

Metaplanet besides did not disclose however overmuch bitcoin it utilized to collateralize the loan, but bitcoin-backed lenders volition typically lend anyplace from 30-60% of the full worth locked up arsenic collateral to guarantee the collateral tin inactive screen the main if bitcoin declines successful value.

Bitcoin-backed loans person go progressively fashionable for bitcoin treasury companies arsenic banal prices person slumped successful H2 2025 and recognition has tightened for the sector. KindlyMD, for instance, reported locking up 2,908 BTC successful a $206 cardinal indebtedness from Antalpha, which it utilized to refinance different BTC-backed indebtedness from Two Prime.

Metaplanet’s ain BTC-backed indebtedness follows respective superior actions by the institution successful caller months. On September 17, Metaplanet launched a U.S. subsidiary, Metaplanet Income Corp., pursuing an planetary equity offering that raised ¥212.9 cardinal ( $1.44 billion).

On October 28, Metaplanet adopted a Capital Allocation Policy that authorized repurchases of communal banal erstwhile the shares commercialized beneath intrinsic value. The argumentation points retired that buyback whitethorn beryllium funded with recognition facilities.

Metaplanet’s dashboard shows its mNAV is astatine 0.96x arsenic of November 25. Metaplanet is down 3% connected the time astatine the clip of publication.