Metaplanet swings to $170M loss as Bitcoin sale hits earnings

Bearish-7.41%

13 Nov, 18:28

Source: Cointelegraph

AI Summary

Metaplanet reports a $170M loss driven by Bitcoin sales and valuation declines, highlighting financial strain on corporate treasury strategies amid crypto market volatility.

Metaplanet swings to $170M loss as Bitcoin sale hits earnings

Bitcoin sales, valuation losses and rising borrowing costs weighed on the Japanese company’s earnings despite higher revenue and operating profit.