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In brief
- Remixpoint sold its altcoins for ¥878.8 million ($4.47 million).
- The sale produced a ¥117.8 million ($598,400) gain.
- Sale proceeds may fund battery-storage projects and strengthen its balance sheet.
Japanese public company Remixpoint sold all its Ethereum, Solana, $XRP, and Dogecoin on Sept. 1, making Bitcoin the only cryptocurrency left in its treasury.
According to a public disclosure on the company’s website, the assets sold for ¥878,814,569 ($4.47 million), against a book value of ¥761,041,920 ($3.87 million). Remixpoint realized a ¥117,772,649 ($598,400) gain, which it expects to record as business-segment revenue in the second quarter of its fiscal year ending March 31, 2027.
Ethereum generated a ¥60,203,121 ($305,900) profit. Solana added ¥49,304,898 ($250,500), while $XRP produced ¥11,523,717 ($58,500). Dogecoin was the only losing position, recording a ¥3,259,087 ($16,500) loss.
Before the sale, the company’s Ethereum and Solana generated ¥29,874,959 ($151,800) in combined staking rewards.
Remixpoint said it decided to exit the altcoins after weighing market conditions, each asset’s risk and return, and the company’s financial strategy.
“After comprehensively considering the market environment, the risk-return characteristics of each cryptocurrency,” the company wrote. “The Company's financial strategy, and other factors, the Company decided to sell all of the altcoins it held.”
Its cryptocurrency policy will now center on Bitcoin, a shift the company said would clarify its approach and improve capital efficiency.
Bitcoin lending generated 14.92055902 $BTC in fees from Feb. 24 through Aug. 31. Those fees were valued at ¥164,218,522 ($834,300).
According to Bitcoin Treasuries, the company now holds 1,501 $BTC, valued at $116.1 million, and ranked Remixpoint 38th among public-company Bitcoin holders. The different totals reflect figures reported on different dates.
Corporate Bitcoin buying has accelerated in recent weeks as public companies raise capital and concentrate more of their reserves in the asset.
In April, Metaplanet added 5,075 $BTC, lifting its holdings to 40,177 $BTC. In August, the Japanese company agreed to contribute 2,100 $BTC and $2.5 million in cash to Super League Enterprises. Also in August, Zhibao Technology received 2,380 $BTC through a $154.7 million private placement funded directly with Bitcoin.
Later that month, Strive bought 1,110 $BTC for $81.5 million before adding another 1,800 $BTC for roughly $143 million. At the end of August, Strategy purchased 4,603 $BTC for $369.7 million, ending a roughly two-month pause in its Bitcoin purchases.