Metaplanet Raises $137M to Expand Bitcoin Holdings, Shares Climb 7% YTD

Japanese Bitcoin treasury firm Metaplanet raised $137 million via share and warrant sales to overseas investors, aiming to boost its BTC holdings. The capital raise, disclosed January 29, 2026, includes 24.5 million new shares and one-year warrants exercisable from February 16, 2026, priced above current levels to mitigate immediate dilution. Metaplanet holds 35,102 BTC (~$2.93B at $83,541/BTC) and previously borrowed $100M against its BTC in November 2025 to acquire more. Despite a 2025 share price plunge from $15.35 to $2.50, MTPLF rose 7% year-to-date to $2.77 as of January 29, 2026. Analysts note sector overcrowding may trigger future M&A as investor attention fragments.