Remixpoint's Crypto Holdings Soar 8000% Before Stock Plummets 15% Following Earnings Report

Tokyo-based energy consulting firm Remixpoint (3825) significantly increased its cryptocurrency holdings by over 8,000% in the nine months leading up to December 31, reaching 5.8 billion yen ($38 million), according to their earnings presentation released on Friday. The company had spent 9 billion yen ($65 million target) on crypto as of Thursday, primarily in Bitcoin, but also in Ether, SOL, XRP and Dogecoin. This strategic move to invest in Bitcoin as a hedge against the depreciating Japanese currency mirrors Metaplanet's approach. Remixpoint reported a profit of 1.35 billion yen and an unrealized gain of 658 million yen on its cryptocurrency holdings in the fiscal third quarter, starting November 2024. The firm accelerated its crypto accumulation following Donald Trump's victory in the U.S. presidential elections, more than quadrupling its Bitcoin holdings to 125.2 BTC. Despite the surge in crypto holdings and a 360% increase in share value since Trump's victory, Remixpoint's shares plummeted 15% on Friday, following the release of the earnings report.