---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-095339"
form_type: "8-K"
ticker: "XXI"
cik: "0002070457"
company_name: "Twenty One Capital, Inc."
filed_at: "2026-08-31T11:09:01+00:00"
generated_at: "2026-08-31T11:10:43.464845+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.2
calibrated_materiality_score: 0.2
confidence: "high"
source: SEC EDGAR
---

# CEO Zagury: Bitcoin hashrate down 22-24% from ATH; XXI well-positioned

## Summary
- Network hashrate hit ATH of 1,275 EH/s on Sep 19, 2025; now in high 900 EH/s range, down ~22-24%.
- CEO says most public mining companies are leaving industry; Twenty One Capital staying the course.
- Hashprice ~$30/PH/day; operator A with 17.5 J/TH and $0.05/kWh has margin +$9.00, operator B underwater.
- Mining outperforms Bitcoin when price grows faster than hashrate; sees first time at scale for miners.
- Mining offers optionality: energy, infrastructure, share, proximity options; AI/HPC opportunities.

## SEC filing metadata
- accession: 0001213900-26-095339
- form_type: 8-K
- ticker: XXI
- cik: 0002070457
- company_name: Twenty One Capital, Inc.
- filed_at: 2026-08-31T11:09:01+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.2
- calibrated_materiality_score: 0.2
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2070457/000121390026095339/0001213900-26-095339-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2070457/000121390026095339/ea0303978-8k_twentyone.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-095339
- JSON: https://secwatch.observer/filing/0001213900-26-095339.json
- Plain text: https://secwatch.observer/filing/0001213900-26-095339.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.