Tokyo-listed Gumi to Buy $6.58M Worth of Bitcoin, Plans to Stake It

Tokyo-listed mobile game studio Gumi Inc. intends to buy bitcoin worth 1 billion Japanese yen (around $6.58 million), the company announced on Monday.

Tokyo-listed mobile game studio Gumi Inc. (TYO:3903) announced on Monday its plans to buy bitcoin (CRYPTO:BTC) worth JPY1 billion (around $6.58 million) in a bid to bolster its node operation business and strengthen its presence in the Web3 domain.

The company intends to make the purchase in the period between February and May of this year, a statement on Monday revealed.

“Through this initiative, we will further strengthen our node operation business and enhance our presence in the Web3 domain,” Gumi said in the translated version of the statement.

The decision to purchase bitcoin was taken to support several initiatives. These include expanding its node operation business, the company highlighted in the statement.

“Specifically, we became the first listed company in Japan to participate in the bitcoin staking protocol ‘Babylon’ as a validator in the second quarter of the fiscal year ending April 2025,” Gumi said.

The company anticipates earning secondary revenue from staking its surplus bitcoin funds in Babylon. It also expects to generate income from validator rewards from the protocol over and above the gains from the increase in bitcoin price.

“Regarding our cryptocurrency holdings, we will conduct a fair market value assessment quarterly, and the resulting gains or losses will be recorded in our income statement,” the company added in the statement.

Gumi to enter the metaverse with ‘Final Fantasy’ mobile game

Gumi was established in 2007 and got listed on the Tokyo Stock Exchange in 2014. The company is credited with developing and launching several mobile games in Japan and abroad, including “Final Fantasy: Brave Exvius” and “Brave Frontier.”

Among other ventures, the company also owns gumi Cryptos Capital (gCC) – a venture capital that invests in early-stage blockchain and crypto companies.

On Monday, Gumi's stock closed about 3.65% up at 454 yen, as per MarketWatch. At the time of writing, bitcoin was valued at $97,608, showing an 0.8% increase in the past 24 hours, as reported by The Block's bitcoin price page.

In related news, Japanese investment adviser Metaplanet Inc. (TYO:9211) recently announced that it is the first publicly traded company in Japan to establish a bitcoin treasury. As of now, Metaplanet holds 1,762 BTC and aims to increase its holdings to 10,000 BTC by the year-end, as highlighted in its latest financial statement.