mNAV MoamNAV1.44×
EV mNAV†1.24×
Coins/share growth—
Inputs and sources
| Item | Value | As of | Source |
|---|---|---|---|
| BTC price | $76,000.01 | 2026-11-07 16:18 KST | Binance |
| Stock price | 1,905.00 KRW | 2026-11-06 15:30 KST | Yahoo Finance |
| Coins held | 300 | 2026-06-30 | 10-Q |
| Shares outstanding | 23,544,899 | 2026-06-30 | 10-Q |
| Cash & USD assets | $9,903,540 | 2026-06-30 | 10-Q |
| Debt (face) | $5,216,095 | 2026-06-30 | 10-Q |
| Preferred (liquidation pref.) | none | — | — |
Calculation
- Coin value
- 300 × $76,000.01 = $22.8M
- Market cap
- 23,544,899 sh × $1.40 = $32.9M
- mNAV
- $32.9M ÷ $22.8M = 1.44×
- EV mNAV
- ($32.9M + debt $5.2M + preferred 0 − cash $9.9M) ÷ $22.8M = 1.24×
- Coins / 1,000 shares
- 0.0127 BTC
- 1.0× price
- ₩1,321 ($0.97)
- Implied BTC price
- $109,639.65
- Debt/NAV
- 23%
Calculator
Stock at current mNAV (1.44×)—
Stock at 1.0×—
mNAV—
Implied BTC price—
mNAV history
Holdings history as reported
| As of | Holdings | Change | Shares | Source |
|---|---|---|---|---|
| 2026-06-30 | 300 | 23,544,899 | 10-Q |