Metaplanet Bets 2,100 Bitcoin on US Expansion, Takes 95.7% Stake in Gaming Media Company

Metaplanet is expected to own around 95.7% of Superplanet’s outstanding common stock.

The companies stressed that the transaction is a private placement into an existing Nasdaq-listed operating company, rather than a SPAC deal or reverse takeover.

The transaction is expected to close in Q4 of 2026. Following closing, Superplanet intends to publish BTC-per-share metrics, while Metaplanet will report its Bitcoin exposure on a consolidated basis.

Metaplanet Has Two Listed BTC Treasuries

Superplanet will launch with 2,100 BTC on its balance sheet while retaining Super League’s existing gaming media business.

The structure effectively gives Metaplanet two publicly listed BTC treasury platforms: Metaplanet on the Tokyo Stock Exchange and Superplanet on Nasdaq.

Metaplanet CEO Simon Gerovich described the structure as "one consolidated Bitcoin position" capable of raising capital through two different markets.

Superplanet plans to explore raising capital through instruments including perpetual preferred stock. The proceeds will be potentially used to accumulate additional BTC without increasing its common-share count.

Metaplanet will also receive 10-year warrants covering up to 381 million Superplanet shares, with exercise prices ranging from $3 to $33.50.

Additionally, Metaplanet will have a 24-month right to invest as much as another $210 million through non-convertible junior liquidity preferred stock.

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