Metaplanet plans to raise over $800 million, 95% of which will be used to increase Bitcoin holdings

According to an announcement from Metaplanet, the company plans to issue up to 555 million common shares in overseas markets, raising an estimated net proceeds of 130.334 billion yen (approximately $887 million). Approximately 123.818 billion yen of the proceeds will be used to purchase Bitcoin, while 6.516 billion yen will be used for Bitcoin revenue generation.