Twenty One Capital Posts $1.087B Q3 Net Income on Bitcoin Gains, Holds 43,514 BTC
Twenty One Capital (XXI) reported a Q3 net income of $1.087 billion, driven primarily by $1.093 billion in Bitcoin fair value gains, according to an SEC filing. As of September 30, the company held 43,514 BTC, $102.8 million in cash and equivalents, and $486.5 million in outstanding convertible note principal collateralized by approximately 16,116 BTC.
CEO Rapha Zagury stated in a shareholder letter that the company is evaluating opportunities across mining, lending, treasury, and energy sectors while abandoning deals with unsuitable terms. Zagury also indicated Twenty One Capital would consider share buybacks if its stock price falls below the corresponding asset value.