Twenty One Capital reports $1.09 billion Q3 profit, driven by bitcoin revaluation
MARKETSTwenty One Capitalcoinbrief/daily · 2 sources
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What happened
Twenty One Capital (XXI) reported $1.087 billion in Q3 net income, almost all from a $1.093 billion rise in the accounting value of its bitcoin, alongside a $4.8 million operating loss. CEO Rapha Zagury said the company holds 43,514 BTC and $102.8 million in cash, and that it has no binding deal to buy Elektron and is no longer pursuing a merger with Strike. The company is evaluating deals in mining, lending, treasury and energy, and David Goldschmidt has joined the board.
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What to do
- Watch for the next quarterly shareholder letter, which Zagury says will be published each quarter.
- Note that the company says buybacks deserve serious consideration when shares trade below the value of its assets.
Written by AI from the sources, checked against them
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Who reported · 2 outlets
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