Get notified when XXI files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsRed Flags Detected
- Related Party (new) — CEO founded and runs Strike, and Director Zagury runs the entity managing Elektron—both targets of announced potential acquisitions—creating material financial interests that may conflict with shareholder interests.
XXI: net income -$859.7M. XXI reports Q1 loss on Bitcoin fair-value decline; discloses material weaknesses
Filed May 13, 2026 · Period ending March 31, 2026 · ~2 min read
Key Changes
-
high
Net loss of $860M for Q1 2026 driven by $848M unrealized loss on Bitcoin holdings as price fell from $87,316 to $67,832. Company holds 43,514 Bitcoin with fair value of $2.95B against $3.69B cost basis.
MD&A: Financial Results verify on EDGAR → -
high
Material weaknesses identified in internal controls over RSU accounting and PIPE Bitcoin Sale accounting from the Business Combination. Management asserts Q1 financials are materially correct despite control deficiencies; remediation underway with external advisors.
Controls and Procedures verify on EDGAR → -
high
CEO announced potential acquisitions of Strike (Bitcoin financial services he founded) and Elektron (Bitcoin mining platform run by a Director). No binding agreements exist, Board has not evaluated, and related-party conflicts disclosed.
Risk Factors: Strike/Elektron verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
Want to see a complete report first? Today's free report (P 10-Q) is open in full — no account needed.
Partner
Trade XXI commission-free
Open an account, get a free stock.
Investing involves risk. Free stock terms apply.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Aug 12, 2026 · How we verify