After an earlier funding setback, Bitcoin Japan revives its treasury ambitions through a $60M raise and a modest Bitcoin allocation.
Japan-listed Bitcoin Japan has unveiled a new funding round after previous efforts failed to deliver enough capital for its BTC treasury plans. Around $60 million is expected to be raised, with investments spread across multiple sectors. Bitcoin will receive only a limited allocation despite remaining central to the company’s long-term vision.Â
New Funding Gives Bitcoin Japan Another Chance to Buy Its First BTC
Bitcoin Japan has unveiled plans to raise about 9.657 billion yen, or roughly $60 million, through a financing package involving convertible bonds and stock acquisition rights. Cayman Islands-based investment firm EVO FUND will acquire both securities through a third-party allocation.
Unlike ordinary corporate bonds, convertible bonds give investors the option to exchange debt for company shares at a preset price. Such financing can reduce immediate selling pressure on the stock, although the company must repay the debt if investors choose not to convert.
Most of the planned proceeds will support investments outside the crypto sector. Around 3.756 billion yen has been reserved for private equity opportunities, although management has not identified the intended recipients.
Another 3.503 billion yen is earmarked for rare earth mining projects in South Africa. Robot-as-a-service ventures are expected to receive 1.446 billion yen. Bitcoin purchases will account for only 662 million yen, about $4 million, representing roughly 7% of the total capital raised. The remaining funds include approximately 290 million yen allocated to general corporate expenses.
Weak Capital Raise Forced Bitcoin Plans Onto the Sidelines
Formerly operating as textile trading company Hotta Marusho, Bitcoin Japan adopted its current name in 2024 as part of a broader shift toward Bitcoin treasury operations and AI-related businesses. Despite that change, the company has yet to acquire any BTC.
Earlier fundraising efforts failed to provide enough capital for its planned BTC strategy. A financing round announced in late 2025 targeted up to 5.715 billion yen, with nearly one billion yen originally intended for Bitcoin purchases.
Investor participation remained weaker than expected as the company’s share price struggled, leaving actual proceeds well below the original goal. Planned Bitcoin acquisitions were ultimately postponed.
Current management has not announced a purchase timetable or accumulation target. Instead, executives said BTC acquisitions will take place when market conditions are considered favorable.
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