Overview
- Metaplanet executed the first $100 million draw on Oct. 31 from a $500 million credit facility established Oct. 28 and disclosed the borrowing on Nov. 4.
- The company said proceeds will fund additional Bitcoin acquisitions, expand its options-based Income business, and potentially support repurchases under its ¥75 billion buyback authorization.
- The loan is secured against Metaplanet’s roughly 30,823 BTC treasury and represents about 3% of holdings by value, with the lender undisclosed at the counterparty’s request.
- Terms include daily automatic renewal, repayment at the company’s discretion, and interest tied to a USD reference rate plus a spread.
- Management reaffirmed its 210,000 BTC by 2027 target and reported Q3 2025 Income revenue of ¥24.4 billion, up 3.5x year over year.