Metaplanet reported acquiring 2,823 BTC in the first half of the year, raising its total reserves to 43,000 BTC.

Acquisitions and cost

The firm spent about $4.1 billion to build the position, according to the disclosure, and closed the latest tranche this quarter.

Metaplanet purchased the most recent batch at an average price near ¥12.71 million, approximately $78,850 per coin, the company reported.

The transaction price is below the company’s overall average cost basis, which now stands at $95,117 per BTC.

Revenue generation strategy

In addition to accumulation, Metaplanet monetizes holdings through cash-secured option sales and other income instruments as part of a yield strategy.

The company said those activities generated roughly $10.95 million of revenue in the quarter, contributing to operating cash flow.

Market position and equity performance

Metaplanet remains one of the world’s largest corporate holders of bitcoin by disclosed reserves, according to the filing.

Shares of Metaplanet have declined 48% year to date, compared with bitcoin’s 31% decline over the same period.