Nasdaq-listed game media and advertising company Super League Enterprise bought four more bitcoins from Oct. 22 to 25, blockchain media outlet CoinPost reported.

Super League disclosed the purchase in a filing with the U.S. Securities and Exchange Commission. The average purchase price was $80,581.26. Super League said the purchase is part of its review of using bitcoin as a treasury asset alongside cash and cash equivalents. The company previously bought its first bitcoin on Oct. 10 for $83,041.40.

The additional purchase is drawing attention because it took place while Metaplanet’s investment transaction is under way. Super League said on Oct. 19 that all related agenda items were approved at an annual shareholders meeting held on Oct. 16. Under the transaction announced on Aug. 18, Metaplanet plans to contribute 2,100 bitcoins in kind through a wholly owned U.S. subsidiary and also invest $2.5 million in cash.

The transaction is expected to be completed in the fourth quarter of 2026 after Nasdaq-related filing procedures and other steps. Once the process is completed, Metaplanet will hold about 95.7 percent of the issued common shares and Super League will be incorporated as a consolidated subsidiary. The company name is also expected to be changed to 'Superplanet'.

Super League said its purpose for buying bitcoin is closer to a treasury strategy than to short-term investment. The company said it is exploring ways to use bitcoin as a treasury asset alongside cash and cash equivalents. It has thus broadened the scope of including related assets by buying an additional four bitcoins following its earlier purchase of one.

Metaplanet’s transaction structure also shows how Super League’s future character could change. Metaplanet chose a method of directly contributing 2,100 bitcoins in kind, rather than limiting the deal to a simple equity investment. Because the transaction is structured to include an additional $2.5 million in cash, changes in Super League’s treasury operations and business direction appear unavoidable after the deal is completed.

Based on the schedule confirmed so far, key points to watch are whether the deal closes, whether the company name changes and whether bitcoin holdings continue to increase. Super League has already secured shareholder approval for the relevant agenda items. The remaining steps are to wrap up the transaction, including Nasdaq filings. If the deal ends as scheduled, Super League will be reorganised under Metaplanet and the structural shift toward placing bitcoin as a core treasury asset is expected to become even clearer.