Metaplanet Acquires 96% of Super League in 2,100 BTC Deal to Launch U.S. Bitcoin Treasury Company

By Lidia Yadlos

Japanese Bitcoin treasury company Metaplanet is bringing its strategy to the United States. According to reporting by The Block, the company has agreed to acquire roughly 96% of Nasdaq-listed Super League Entertainment through a transaction valued at approximately $134.6 million, contributing 2,100 BTC alongside $2.5 million in cash.

The deal will transform the gaming media company into Metaplanet's U.S.-listed Bitcoin treasury vehicle while preserving its existing operating business.

Investors welcomed the announcement. Super League shares jumped as much as 80% shortly after markets opened before settling to gains of around 50%, while Metaplanet's Tokyo-listed shares climbed more than 4%.

A Different Kind of Bitcoin Treasury Deal

The acquisition stands out from many of the Bitcoin treasury transactions announced over the past two years.

Rather than raising discounted capital through outside investors, Metaplanet is contributing Bitcoin directly from its own balance sheet. The company will subscribe to approximately 44.9 million newly issued Super League shares priced at $3 each, together with preferred shares and warrants, in exchange for 2,100 BTC and cash.

Once the transaction closes, Super League will be renamed Superplanet Inc. and trade on Nasdaq under the ticker SUPA. Metaplanet will own approximately 95.7% of the company's outstanding common shares.

Benchmark analysts noted that the structure differs from many recent treasury-company launches because the share count was fixed before the transaction, pricing was based on the market rather than a discounted financing round, and Metaplanet has agreed to a five-year lock-up on its shares.

Taking the Bitcoin Strategy Global

The 2,100 BTC commitment represents less than 5% of Metaplanet's Bitcoin holdings, which now total approximately 43,000 BTC. That makes it the world's third-largest publicly traded corporate Bitcoin holder, behind Strategy and Twenty One Capital.

Together, the moves form part of the company's broader "Project Nova" strategy, expanding from accumulating Bitcoin into building financial infrastructure around the asset.

The Super League transaction is expected to close during the fourth quarter, marking Metaplanet's biggest step yet toward becoming a global Bitcoin treasury company with operations spanning both Japan and the United States.

Published on Bitcoin

Metaplanet Acquires 96% of Super League in 2,100 BTC Deal to Launch U.S. Bitcoin Treasury Company