Tether-Backed Bitcoin Treasury Firm Twenty One Capital Posts $1.087B Q3 Profit

Cointime reports: Twenty One Capital, the Tether-backed bitcoin treasury company, reported a third-quarter net profit of $1.087 billion for the period ended September 30, its first profitable quarter since going public via a reverse merger in 2025. The gain came mainly from non-cash fair-value gains on its bitcoin holdings, as BTC rose from about $58,600 to about $83,700 in the quarter before falling below $69,000 on November 13. Operating cash outflow was about $1.7 million, with $486.5 million in convertible notes due 2030 and about 16,116 BTC pledged as collateral.