Bitcoin Japan Corp raises $60M, allocates $4M for Bitcoin

Capital allocation and funding sources

The $60 million raise targets multiple business lines. Private equity investments claim the largest share at 3.756 billion yen, while rare earth mining operations in South Africa take the second-biggest slice at 3.503 billion yen. A Robot-as-a-Service business line receives 1.446 billion yen from the raise.

A Cayman Islands-based entity called EVO FUND is providing a substantial portion of the capital. The funding comes as Bitcoin Japan Corporation, formerly known as Horita Marusho and operating in textile trading before undergoing a full strategic pivot and rebranding in 2024, reshapes its investment thesis around digital assets.

Prior funding setback and market context

The latest raise marks a recovery from December 2025, when the company attempted to raise 5.715 billion yen but collected only 3.095 billion yen, with zero yen allocated to Bitcoin as a result. This time, the Bitcoin allocation signals renewed confidence in the digital asset's role in corporate treasuries.

Bakkt, the digital asset platform backed by Intercontinental Exchange, holds roughly a 30% stake in Bitcoin Japan, anchoring institutional credibility. Meanwhile, Japanese public companies collectively hold tens of thousands of Bitcoin, reflecting a structural shift in how corporations view cryptocurrency.

Regulatory tailwinds

Japan's regulatory environment is shifting in Bitcoin's favor. The country is in the process of reclassifying Bitcoin as a financial instrument rather than a speculative commodity, with those changes expected to take effect around 2027. This reclassification could unlock further corporate adoption by reducing compliance friction.

Japan's yen has faced persistent depreciation pressure, which gives Japanese companies a more acute motivation to hold assets not denominated in local currency. Bitcoin treasury accumulation fits that hedging strategy neatly.