Twenty One Capital (XXI) Shares Gain as Tether Buys Out SoftBank's Position

Key Takeaways

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Shares of Twenty One Capital (XXI) advanced 3.15% to $7.86 during Wednesday’s pre-market session following the company’s announcement of bitcoin-focused operational strategy.
Controlling shareholder Tether International purchased SoftBank Group’s ownership position in the company; specific deal terms remain undisclosed.
Board members representing SoftBank resigned from their positions after the stake transfer, consistent with existing shareholder agreement provisions.
The company is developing an integrated platform encompassing Bitcoin treasury operations, financial services, mining operations, lending products, and capital markets activities.
Shares have declined 84% year-over-year and hold a “WEAK” financial health designation, with losses of $4.42 per share recorded over the trailing twelve-month period.

Shares of Twenty One Capital (XXI) gained 3.15% to reach $7.86 during Wednesday’s pre-market session after the company unveiled its formal operational strategy alongside a significant shareholder transition.

Twenty One Capital Inc, XXI

Controlling stakeholder Tether International has completed the acquisition of SoftBank Group’s (SFTBY) ownership position in the company. Specific financial details surrounding the transaction were not made public.

After completing the deal, board members representing SoftBank resigned from XXI’s Board of Directors, adhering to provisions outlined in the company’s shareholder agreement.

SoftBank had maintained involvement with Twenty One Capital from its inception, providing institutional support throughout the company’s early development phase. The Japanese technology giant has now completely exited its position.

Through this acquisition, Tether strengthens its ownership position in XXI, stating the transaction provides “stronger shareholder alignment” to support the company’s Bitcoin-focused initiatives.

XXI’s Platform Vision Takes Shape

Twenty One Capital is establishing itself as a publicly-traded Bitcoin-focused enterprise. The strategic vision involves consolidating Bitcoin treasury management, financial services, mining operations, lending facilities, and capital markets activities within a unified platform.

According to company statements, the business model centers on generating recurring revenue streams while pursuing capital-efficient Bitcoin acquisition strategies — operating profitable businesses while consistently accumulating BTC holdings.

CEO Jack Mallers continues to spearhead the initiative. He secured re-election to the board during the company’s latest annual shareholder gathering, alongside six additional directors.

Twenty One Capital submitted its annual Form 10-K to the Securities and Exchange Commission on March 31, 2026, documenting the fiscal year ending December 31, 2025. The company’s most recent Form 10-Q, covering the first quarter of 2026, was filed on May 13, 2026.

Financial Performance Paints Challenging Picture

Notwithstanding Wednesday’s pre-market gains, the stock’s extended performance presents significant headwinds. XXI has surrendered 84% of its value over the trailing year period and maintains a market capitalization of $2.64 billion.

Profitability remains elusive for the company. Financial results show per-share losses totaling $4.42 across the most recent twelve-month period.

InvestingPro assigns XXI a “WEAK” financial health designation, while its Fair Value analysis indicates current share prices exceed fundamental valuations.

These financial metrics warrant consideration as Twenty One Capital articulates its long-range strategic vision. The platform remains in developmental stages, with no publicly disclosed roadmap to profitability.

Tether’s increased commitment introduces a well-funded strategic partner. Tether manages among the largest stablecoin operations globally and maintains substantial financial interest in expanding Bitcoin-focused infrastructure.

The company’s latest quarterly filing, submitted May 13, 2026, should provide investors with the most comprehensive view of XXI’s operational performance during 2026.

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