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Get filing alertsXXI reports -$413.5M net loss as Bitcoin holdings fall 33%; CEO departs
Filed August 11, 2026 · Period ending June 30, 2026 · ~2 min read
Key Changes
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Bitcoin holdings declined to $2.55B (Jun 30, 2026), driving a $1.25B unrealized loss for the six-month period as Bitcoin price fell from $87,316 to $58,605 per coin.
MD&A: Bitcoin holdings and fair value changes verify on EDGAR → -
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CEO Jack Mallers resigned effective July 20, 2026, receiving $1.6M in separation payments; board member Raphael Zagury appointed as replacement CEO with $600K base salary and up to $700K annual bonus.
Risk Factors: CEO departure and leadership transition verify on EDGAR → -
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Company holds $486.5M in convertible notes secured by approximately 16,116 Bitcoin (37% of total holdings), with $5M annual interest and principal due at maturity if not converted at $10/share.
MD&A: Convertible debt obligations 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.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 12, 2026 · How we verify