Twenty One Capital recorded a net loss in the second quarter. The amount of losses reached four hundred and thirteen million dollars. The main part of the loss was caused by the revaluation of digital assets on the balance sheet. The correction of the cryptocurrency market has generated more than four hundred million paper losses. At the same time, more than forty-three thousand bitcoins remain in the accounts of the organization. The current value of this large reserve exceeds two billion dollars. The company confidently retains the second place among the public holders of the first cryptocurrency. At the end of the reporting period, there were more than one hundred million dollars in cash in the accounts. The debt on the issued convertible bonds has reached four hundred and eighty million. The company's shares fell by almost two percent in recent trading. Since the beginning of this year, the quotations of these securities have decreased by about fifty percent. Investors carefully study the financial statements of public holders of digital assets.

The financial report was released three weeks after the official leadership change. The company's founder, Jack Mallers, relinquished the CEO's chair to Rafael Zaguri. Mallers decided to fully focus on the development of his Strike payment project. At the same time, the payment service abandoned previously discussed merger plans. Twenty One itself is currently considering the purchase of the mining company Elektronenergy. This energy company was headed by Zaguri himself until recently. The new head acknowledged the existence of serious questions to the current results of the organization. Zaguri stated the need to create additional value for shareholders. Simply owning a large reserve of the first cryptocurrency is no longer enough. The company has one of the largest bitcoin balances on the public market. This significant advantage requires competent strategic business development. Management intends to prove its ability to generate independent financial flows.

The new CEO has identified several main priorities for the coming year. This list includes strengthening corporate governance and developing capital markets. The Company plans to establish or acquire existing operating businesses. Building mergers and acquisitions processes will be an important area. The final goal will be to launch a bitcoin-backed loan business. The Berkshire Hathaway structure serves as a long-term guideline for management. A strong balance sheet must be combined with independent flow-generating companies. Zaguri also spoke in detail about the problem of low market capitalization. Investors point to a serious discount to the value of the firm's bitcoin assets. The current mNAV multiplier is only seven tenths of the actual cost. The market is still evaluating the business at a significant discount to the underlying crypto assets. Corporate digital treasuries have lost billions due to the fall in the price of bitcoin.