The Metaplanet project plans to raise approximately $135 million in funding, with the proceeds mainly used to increase its Bitcoin holdings.

BlockBeats News, January 29th, the board of directors of Japan’s Bitcoin Custodian (DAT) company Metaplanet has passed a resolution to issue common stock and 25th tranche subscription rights through a third-party allotment, with a planned total financing amount of approximately $135 million. The funds raised will be mainly used to increase holdings of Bitcoin and invest in Bitcoin yield businesses, while also repaying some of the credit line borrowings.