Tether-backed Twenty One Capital reports $1.09 billion Q3 net income on bitcoin gains

详细摘要

CEO Rapha Zagury said fair-value crypto gains are a starting point as the firm evaluates mining, lending and potential share buybacks.

Twenty One Capital (XXI) reported third-quarter net income of $1.087 billion, almost entirely from $1.093 billion in fair value gains on its bitcoin holdings, according to an SEC filing. The Tether-backed company held 43,514 BTC as of Sept. 30, valued at roughly $83,700 per BTC, plus $102.8 million in cash and cash equivalents. Its convertible notes carried $486.5 million in principal and were collateralized by about 16,116 BTC. Twenty One Capital also recorded a $4.8 million operating loss and $1.34 million in interest expense for the three months ended Sept. 30, the filing shows.

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