Net profit reached $1.087 billion, Twenty One held 43,514 bitcoins in Q3

Odaily: Twenty One Capital (XXI) reported a net profit of $1.087 billion in Q3 2026, compared with a net loss of $656,000 in the same period last year. The profit was mainly driven by a $1.093 billion paper gain from the rise in fair value of its bitcoin holdings, rather than operating cash flow. As of September 30, the company held 43,514 bitcoins with a period-end fair value of approximately $3.643 billion, along with about $103 million in cash and cash equivalents; the company still has approximately $487 million in convertible note principal outstanding, secured by about 16,116 bitcoins, and the pledged bitcoins cannot be used for general corporate purposes or to meet liquidity needs. CEO Rapha Zagury said the company is evaluating opportunities in bitcoin mining, lending, treasury and energy, aiming to build businesses that can generate cash flow even when the bitcoin price moves sideways, and may use future operating cash flow to increase its bitcoin holdings or invest in other businesses; if the share price falls below the asset value per share, the company may consider buybacks, though this would still depend on liquidity, approvals and applicable restrictions.