mNAV MoamNAV0.51×
EV mNAV†1.00×
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 | 0.99 USD | 2026-11-07 06:00 KST | Yahoo Finance |
| Coins held | 1,056 | 2026-06-30 | 6-K |
| Shares outstanding | 41,021,967 | 2026-07-20 | 20-F |
| Cash & USD assets | $10,121,719 | 2026-06-30 | 6-K |
| Debt (face) | $49,244,701 | 2026-06-30 | 6-K |
| Preferred (liquidation pref.) | none | — | — |
XBRL quarterly values
| Item | XBRL | As of | Tag |
|---|---|---|---|
| Cash & USD assets | $41,243,627 | 2025-12-31 | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Debt (face) | $557,567,671 | 2025-12-31 | us-gaap:LongTermDebt |
Calculation
- Coin value
- 1,056 × $76,000.01 = $80.3M
- Market cap
- 41,021,967 sh × $0.99 = $40.8M
- mNAV
- $40.8M ÷ $80.3M = 0.51×
- EV mNAV
- ($40.8M + debt $49.2M + preferred 0 − cash $10.1M) ÷ $80.3M = 1.00×
- Coins / 1,000 shares
- 0.0257 BTC
- 1.0× price
- $1.96
- Implied BTC price
- $38,625.13
- Debt/NAV
- 61%
Calculator
Stock at current mNAV (0.51×)—
Stock at 1.0×—
mNAV—
Implied BTC price—
mNAV history
Holdings history as reported
| As of | Holdings | Change | Shares | Source |
|---|---|---|---|---|
| 2026-06-30 | 1,056 | 6-K |