mNAV MoamNAV0.93×
EV mNAV†1.15×
Diluted mNAV1.14×
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 | 5.80 EUR | 2026-11-07 01:35 KST | Yahoo Finance |
| Coins held | 3,538 | 2026-10-15 | IR |
| Shares outstanding | 38,467,809 | 2026-09-28 | IR |
| Cash & USD assets | $5,139,120 | 2026-09-30 | IR |
| Debt (face) | $64,900,382 | 2026-06-30 | IR |
| Preferred (liquidation pref.) | none | — | — |
Calculation
- Coin value
- 3,538 × $76,000.01 = $268.9M
- Market cap
- 38,467,809 sh × $6.47 = $248.8M
- mNAV
- $248.8M ÷ $268.9M = 0.93×
- EV mNAV
- ($248.8M + debt $64.9M + preferred 0 − cash $5.1M) ÷ $268.9M = 1.15×
- Coins / 1,000 shares
- 0.0920 BTC
- 1.0× price
- €6.27 ($6.99)
- Implied BTC price
- $70,330.54
- Avg purchase price
- €87,805.00 ($97,841) 2026-09-30 · IR
- vs. cost
- -22.3% −$77.3M
- Debt/NAV
- 24%
Calculator
Stock at current mNAV (0.93×)—
Stock at 1.0×—
mNAV—
Implied BTC price—
mNAV history
Holdings history as reported
| As of | Holdings | Change | Shares | Source |
|---|---|---|---|---|
| 2026-10-15 | 3,538 | IR |