Tokyo-based Metaplanet announced a $28 million increase in its Bitcoin holdings, having more than doubled its acquisitions from 492.82 BTC to 1,018.17 BTC amid a crypto market rally. The total valuation gain on its Bitcoin assets now stands at JPY 4.27 billion ($28 million), exceeding the company's market capitalization at the beginning of the year. Despite the rise in Bitcoin's value, Metaplanet reported a net loss of $2.1 million for the nine months ending September 30, 2024, although this reflects an improvement from a $2.7 million loss year-on-year. Revenue increased by 46.3%, attributed to the firm's hotel operations and digital ventures. Despite these gains, Metaplanet's stock faced a 5% decline, trading at 1,766 JPY (approximately $11.41).

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