mNAV MoamNAV0.91×
EV mNAV1.66×
Coins/share growth-35.1% YTD-34.0% 1Y
Inputs and sources
| Item | Value | As of | Source |
|---|---|---|---|
| BTC price | $76,000.01 | 2026-11-07 16:18 KST | Binance |
| Stock price | 6.35 USD | 2026-11-07 06:00 KST | Yahoo Finance |
| Coins held | 35,577 | 2026-06-30 | 10-Q |
| Shares outstanding | 386,299,297 | 2026-07-30 | 10-Q |
| Cash & USD assets | $421,274,000 | 2026-06-30 | 10-Q |
| Debt (face) | $2,447,201,000 | 2026-06-30 | 10-Q |
| Preferred (liquidation pref.) | $0 | 2026-06-30 | xbrl |
XBRL quarterly values
| Item | XBRL | As of | Tag |
|---|---|---|---|
| Debt (face) | $2,417,749,000 | 2026-06-30 | us-gaap:LongTermDebt |
Calculation
- Coin value
- 35,577 × $76,000.01 = $2.70B
- Market cap
- 386,299,297 sh × $6.35 = $2.45B
- mNAV
- $2.45B ÷ $2.70B = 0.91×
- EV mNAV
- ($2.45B + debt $2.45B + preferred $0 − cash $421.3M) ÷ $2.70B = 1.66×
- Coins / 1,000 shares
- 0.0921 BTC
- 1.0× price
- $7.00
- Implied BTC price
- $68,949.06
- Avg purchase price
- $54,662 2026-06-30 · 10-Q
- vs. cost
- +39.0% +$759.1M
- Debt/NAV
- 91%
Calculator
Stock at current mNAV (0.91×)—
Stock at 1.0×—
mNAV—
Implied BTC price—
mNAV history
Holdings history as reported
Recent 8-Ks
- 2026-09-25 1.01 Material agreement
- 2026-08-06 2.02 Results EX-99.1
- 2026-08-04 5.02 Officers/directors · 7.01 Reg FD EX-99.1
- 2026-07-09 1.01 Material agreement · 2.01 Acquisition/disposition · 7.01 Reg FD EX-99.1