Corporate Development Analyst

Location: Preference for New York, NY or Miami, FL

Company and Role Overview 

Twenty One Capital, Inc. is a Bitcoin-focused operating company. Designed to pair one of the largest Bitcoin treasuries in the public markets with operating businesses, Twenty One aims to provide shareholders with direct, capital-efficient exposure to Bitcoin through a growing Bitcoin-native platform. Twenty One Capital, Inc. is based in Austin, Texas, with teams in New York City and Miami. Twenty One Capital, Inc. is publicly listed and traded on the New York Stock Exchange under ticker symbol “XXI”.  

Twenty One Capital is a public company with a small team and a large balance sheet. We are seeking a Corporate Development Analyst to build and own the analysis behind the company's transaction and capital decisions: what something is worth, what it does to Bitcoin per share, and whether it is worth doing.

The work is modelling-led, and the model is not a supporting exhibit. On a team this size it is the document the decision is made from, read by the CFO, the CEO, and the Board. The standard follows from that: assumptions explicit, sources traceable, and any output followable to its driver in under a minute.

The measure of the role: every material transaction or capital decision is supported by a model the CFO will put in front of the Board without rebuilding it first.

Your Key Responsibilities 

Financial Modelling

• Builds and owns the transaction and capital models: valuation, accretion and dilution, pro forma capital structure, and scenario and sensitivity analysis.
• Models Bitcoin per share impact across a range of Bitcoin price, premium, and issuance assumptions. This is the primary test applied to anything proposed.
• Builds to a standard that survives inspection: explicit assumptions, no hardcoded overrides inside formulas, clear source referencing, and a structure another analyst can pick up cold.
• Stress-tests the downside first. A model is expected to show the conditions under which a transaction fails, not only the case for doing it.

Transaction Support

• Runs diligence workstreams on acquisitions and strategic transactions — financial, commercial, and structural — coordinating external advisers where they are used rather than deferring to them.
• Prepares the decision materials: board and committee papers, transaction memoranda, and the analysis behind a recommendation.
• Maintains the opportunity pipeline with a named status, owner, and next step against each item, visible without being asked for.
• Supports execution through signing and close, including the analytical inputs to integration planning where relevant.

Market and Sector Analysis

• Tracks the Bitcoin treasury sector: capital structures, issuance activity, and mNAV and Bitcoin per share performance across comparable issuers.
• Maintains the comparable company and precedent transaction sets that underpin the company's valuation work.
• Converts sector activity into a view. What a competitor's issuance implies for XXI, not simply that it happened.

Analytical Reporting

• Supports the CFO with analysis for the Board, the investor base, and research and rating counterparties.
• Builds the recurring reporting on capital deployment and Bitcoin per share, so the position is standing information rather than a request each quarter.
• Works to one set of numbers with Capital Markets, Accounting, and FP&A, so internal decisions and external disclosure do not diverge.

Qualifications

Required

• Demonstrably strong financial modelling: valuation, accretion and dilution, three-statement, and scenario analysis built from scratch rather than adapted from a template.
• Command of accounting, and of how transaction structure flows through the financial statements.
• Clear written work: a memorandum that states a recommendation and the reasoning behind it, not a summary of the material.
• Comfort operating without structure. There is no analyst bench here; the role defines its own process.

Preferred

• 2+ years in investment banking, private equity, or a comparable transaction environment.
• Analyst and associate programme at a financial or advisory institution.Private equity or principal investing experience.
• Public-company environment, and familiarity with SEC-reported financials.
• Exposure to digital assets, Bitcoin mining, or corporate treasury strategies — a plus on top of modelling and transaction fundamentals, not a substitute for them.

The estimated salary for this role is $125,000-150,000. Actual placement within this range will depend on experience, skills, and qualifications.