mNAV MoamNAV0.57×
EV mNAV†0.78×
Diluted mNAV0.78×
Coins/share growth+37.9% YTD+40.1% 1Y
Inputs and sources
| Item | Value | As of | Source |
|---|---|---|---|
| SOL price | $90.15 | 2026-11-07 16:18 KST | Binance |
| Stock price | 5.70 USD | 2026-11-07 06:00 KST | Yahoo Finance |
| Coins held | 8,501,298 | 2026-09-30 | 8-K |
| Shares outstanding | 76,288,215 | 2026-09-30 | 8-K |
| Cash & USD assets | $7,292,000 | 2026-09-30 | 8-K |
| Debt (face) | $167,500,000 | 2026-09-30 | 8-K |
| Preferred (liquidation pref.) | none | — | — |
XBRL quarterly values
| Item | XBRL | As of | Tag |
|---|---|---|---|
| Cash & USD assets | $10,965,165 | 2026-06-30 | us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents |
| Shares outstanding | 73,846,883 | 2026-08-03 | dei:EntityCommonStockSharesOutstanding |
Calculation
- Coin value
- 8,501,298 × $90.15 = $766.4M
- Market cap
- 76,288,215 sh × $5.70 = $434.8M
- mNAV
- $434.8M ÷ $766.4M = 0.57×
- EV mNAV
- ($434.8M + debt $167.5M + preferred 0 − cash $7.3M) ÷ $766.4M = 0.78×
- Coins / 1,000 shares
- 111.4366 SOL
- 1.0× price
- $10.05
- Implied SOL price
- $51.15
- Debt/NAV
- 22%
Calculator
Stock at current mNAV (0.57×)—
Stock at 1.0×—
mNAV—
Implied SOL price—
mNAV history
Holdings history as reported
| As of | Holdings | Change | Shares | Source |
|---|---|---|---|---|
| 2026-09-30 | 8,501,298 | +694,276 | 76,288,215 | 8-K |
| 2026-08-03 | 7,807,022 | +254,324 | filing | |
| 2026-06-30 | 7,552,698 | +508,619 | 73,846,883 | filing |
| 2026-03-31 | 7,044,079 | +30,543 | 76,314,617 | filing |
| 2026-03-17 | 7,013,536 | +51,035 | 76,977,809 | filing |
| 2025-12-31 | 6,962,501 | +108,501 | filing | |
| 2025-09-30 | 6,854,000 | +32,000 | 86,145,514 | filing |
| 2025-09-15 | 6,822,000 | filing |
Recent 8-Ks
- 2026-10-01 7.01 Reg FD EX-99.1
- 2026-09-24 1.01 Material agreement · 7.01 Reg FD · 8.01 Other events EX-99.1
- 2026-09-15 7.01 Reg FD EX-99.1
- 2026-08-12 2.02 Results · 7.01 Reg FD EX-99.1
- 2026-07-20 5.02 Officers/directors