Twenty One Capital Reports $1.087 Billion Q3 Net Income, Holds 43,514 BTC

Nov. 13 — According to an SEC filing, Twenty One Capital (XXI) disclosed third-quarter net income of $1.087 billion, mainly from $1.093 billion in bitcoin fair value gains. As of Sept. 30, the company held 43,514 BTC, $102.8 million in cash and cash equivalents, and $486.5 million in outstanding convertible note principal, collateralized by about 16,116 BTC. In his letter to shareholders, CEO Rapha Zagury said the company is evaluating opportunities in mining, lending, treasury and energy, has abandoned some deals with unsuitable terms, and would consider buying back shares if the share price falls below the corresponding asset value.