Iore, listed on the Tokyo Stock Exchange, to sell all 151.21 Bitcoins to fund AI data center investments

Key Points of This Article

• Iore, listed on the Tokyo Stock Exchange, expects a loss of approximately 254 million yen from the BTC sale
• Increasing investment in AI data centers

Complete Sale of BTC

Iore, listed on the Tokyo Growth Market, decided at its board meeting on the 30th to sell all of its 151.21 Bitcoins (BTC) and allocate the proceeds to investments related to its AI data center (AI DC) business. According to timely disclosure, the expected sale amount is calculated at 1.831 billion yen based on the market price as of October 30, which is below the book value (2.085 billion yen) after the market valuation as of September 30, resulting in an anticipated loss of approximately 254 million yen.

As for the reason for the sale, Iore expressed that the rapid expansion of cyber threats has made it increasingly important to address risks affecting the entire digital supply chain. In light of this environmental change, the company reassessed the risks and value creation potential of both asset holdings and business investments, leading to a review of capital allocation.

Thus, from October 30 to the end of November, the company plans to proceed with market sales through cryptocurrency exchange operators (including partial sales), prioritizing the proceeds for investments in AI data centers and AI computing power provision and the Neo Cloud business in early December.

Additionally, with the concrete realization of the Neo Cloud business, the required funds are expected to increase. As disclosed on September 9, 2025, the use of funds for the new stock acquisition rights has also been changed, increasing the investment related to the "AI DC" business from 2 billion yen to 2.6 billion yen, while reducing the purchase of digital assets from 8.49 billion yen to 7.89 billion yen.

On the other hand, Iore plans to continue holding the cryptocurrency Hyper Liquid (HYPE), which it began acquiring in July 2026. The sale loss is expected to be recorded in the cost of sales for the third quarter of the fiscal year ending March 2027, and if there are any changes considering other impacts, they will be announced in the financial results for the second quarter of the fiscal year ending March 2027 (scheduled for announcement on November 16).

Precedent Cases

Domestically, game company Enish announced on June 9 that it had sold all 8.063 BTC acquired for approximately 104 million yen as part of its financial strategy in April 2025. The sale amount was approximately 79.27 million yen, resulting in a sale loss of about 6.22 million yen compared to the valuation of approximately 85.49 million yen as of the end of March 2026, with the aim of securing investment funds for promoting the "Active Treasury Business" centered on Solana as a core digital asset.

In addition, listed company Convano, which decided to purchase Bitcoin in August 2025 to solidify its financial strategy, decided on July 24, 2026, to sell all of its held cryptocurrencies excluding those distributed as shareholder benefits. The company announced on August 13 that it had completed the sale excluding the portion distributed as shareholder benefits and the portion provided as collateral as of August 10, with a sale loss of approximately 298 million yen.

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