mNAV MoamNAV1.93×
EV mNAV1.83×
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 | 38.00 JPY | 2026-11-06 15:30 KST | Yahoo Finance |
| Coins held | 296 | 2026-09-25 | IR |
| Shares outstanding | 180,719,438 | 2026-10-31 | IR |
| Cash & USD assets | $7,136,095 | 2026-06-30 | IR |
| Debt (face) | $4,908,263 | 2026-09-30 | IR |
| Preferred (liquidation pref.) | $0 | 2026-06-30 | IR |
Calculation
- Coin value
- 296 × $76,000.01 = $22.5M
- Market cap
- 180,719,438 sh × $0.24 = $43.3M
- mNAV
- $43.3M ÷ $22.5M = 1.93×
- EV mNAV
- ($43.3M + debt $4.9M + preferred $0 − cash $7.1M) ÷ $22.5M = 1.83×
- Coins / 1,000 shares
- 0.0016 BTC
- 1.0× price
- ¥20 ($0.12)
- Implied BTC price
- $146,325.54
- Avg purchase price
- ¥16,878,171 ($106,537) 2025-10-02 · IR
- vs. cost
- -28.7% −$9.0M
- Debt/NAV
- 22%
Calculator
Stock at current mNAV (1.93×)—
Stock at 1.0×—
mNAV—
Implied BTC price—
mNAV history
Holdings history as reported
| As of | Holdings | Change | Shares | Source |
|---|---|---|---|---|
| 2026-09-25 | 296 | IR |