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 Q3 net income of $1.087bn, almost entirely from a $1.093bn increase in the accounting value of its bitcoin, against a $4.8m operating loss. At quarter end it held 43,514 BTC (about $83,700 each) and $102.8m cash, against $486.5m of convertible note principal backed by about 16,116 BTC; Unchained puts collateral at roughly 37% of the treasury. The 10-Q shows a $186.5m net loss for the first nine months, no binding agreement to acquire Elektron, and no pursuit of Strike after Tether's proposed three-way merger fell apart.
For experienced traders · Written by AI from 2 sources · Wrong?
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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