mNAV MoamNAV1.89×
EV mNAV†2.67×
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 | 416.00 KRW | 2026-04-07 15:32 KST | Yahoo Finance |
| Coins held | 225 | 2026-06-30 | 10-Q |
| Shares outstanding | 106,081,646 | 2026-06-30 | 10-Q |
| Cash & USD assets | $814,726 | 2026-06-30 | 10-Q |
| Debt (face) | $13,975,782 | 2026-06-30 | 10-Q |
| Preferred (liquidation pref.) | none | — | — |
Calculation
- Coin value
- 225 × $76,000.01 = $17.1M
- Market cap
- 106,081,646 sh × $0.31 = $32.4M
- mNAV
- $32.4M ÷ $17.1M = 1.89×
- EV mNAV
- ($32.4M + debt $14.0M + preferred 0 − cash $814,726) ÷ $17.1M = 2.67×
- Coins / 1,000 shares
- 0.0021 BTC
- 1.0× price
- ₩220 ($0.16)
- Implied BTC price
- $144,012.04
- Avg purchase price
- ₩154,336,712 ($113,179) 2026-06-30 · 10-Q
- vs. cost
- -32.8% −$8.4M
- Debt/NAV
- 82%
Calculator
Stock at current mNAV (1.89×)—
Stock at 1.0×—
mNAV—
Implied BTC price—
mNAV history
Holdings history as reported
| As of | Holdings | Change | Shares | Source |
|---|---|---|---|---|
| 2026-06-30 | 225 | 106,081,646 | 10-Q |