Core Insights - Metaplanet, a Tokyo-listed hotel group, is expanding its business to the U.S. by establishing a subsidiary in Miami, Florida, to manage and grow income-generation activities [1] - The new subsidiary, Metaplanet Income Corp., will start with $15 million in capital and aims to enhance the parent company's opportunities in derivatives operations [2] - The company's shares fell nearly 4% to around $4.06, with a significant decline of approximately 68% over the past three months, despite a year-to-date increase of 74% [3] Financial Performance - In Q2, Metaplanet reported an operating profit of ¥817 million ($5.5 million) on total sales of ¥1.23 billion ($8.4 million), driven by its income-generation segment [4] - The income-generation segment generated ¥1.13 billion ($7.7 million) from selling Bitcoin put options, which are profitable when Bitcoin's spot price falls below the strike price [4] Growth Strategy - Metaplanet's President Simon Gerovich highlighted that the income-generation business has become a key growth engine, producing consistent revenue and net income [5] - The company successfully closed a $1.45 billion offering of 385 million shares, attracting over 70 investors, including major mutual fund complexes, sovereign wealth funds, and hedge funds [6]