mNAV MoamNAV0.68×
EV mNAV0.76×
Diluted mNAV0.70×
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 | 0.14 EUR | 2026-11-06 23:25 KST | Yahoo Finance |
| Coins held | 3,506 | 2026-08-10 | IR |
| Shares outstanding | 1,128,931,358 | 2026-08-10 | IR |
| Cash & USD assets | $1,849,865 | 2026-06-30 | IR |
| Debt (face) | $22,464,101 | 2026-06-30 | IR |
| Preferred (liquidation pref.) | $0 | 2026-06-30 | IR |
Calculation
- Coin value
- 3,506 × $76,000.01 = $266.5M
- Market cap
- 1,128,931,358 sh × $0.16 = $182.4M
- mNAV
- $182.4M ÷ $266.5M = 0.68×
- EV mNAV
- ($182.4M + debt $22.5M + preferred $0 − cash $1.8M) ÷ $266.5M = 0.76×
- Coins / 1,000 shares
- 0.0031 BTC
- 1.0× price
- €0.21 ($0.24)
- Implied BTC price
- $52,020.70
- Debt/NAV
- 8%
Calculator
Stock at current mNAV (0.68×)—
Stock at 1.0×—
mNAV—
Implied BTC price—
mNAV history
Holdings history as reported
| As of | Holdings | Change | Shares | Source |
|---|---|---|---|---|
| 2026-08-10 | 3,506 | 1,128,931,358 | IR |