Q3 net income of $1.087 billion was driven by Bitcoin fair-value gains, while 9M ended with a $186.5 million net loss. Treasury holdings were 43,514 BTC; management cited sufficient liquidity for at least one year, alongside significant Bitcoin-price and control risks.

Original document: Twenty One Capital, Inc. [XXI] SEC 10-Q Quarterly Report — Nov. 13 2026

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