Twenty One Capital Q2 financial report: Net loss of 413.5 million USD, mainly affected by the decline in the value of Bitcoin holdings

According to The Block, Tether-backed Bitcoin treasury company Twenty One Capital (NYSE: XXI) announced its financial performance for the second quarter of 2026, reporting a net loss of $413.5 million, primarily due to the decline in the value of its Bitcoin holdings. The financial report shows that approximately $401.5 million of Twenty One Capital's second-quarter losses came from the decline in the book value of its Bitcoin assets.

As the company uses Bitcoin as its core asset allocation, BTC price fluctuations directly impact its financial performance. New CEO Raphael Zagury stated that Twenty One Capital cannot exist solely as a "Bitcoin treasury company" in the future but needs to transform into a broader financial services platform.

Zagury proposed that the company's next phase will focus on three main directions, including: expanding its business landscape through mergers and acquisitions; enhancing financing capabilities using capital market tools; and exploring Bitcoin-collateralized loan services.