mNAV MoamNAV0.67×
EV mNAV†0.65×
Coins/share growth—
Inputs and sources
| Item | Value | As of | Source |
|---|---|---|---|
| ETH price | $2,245.89 | 2026-11-07 16:18 KST | Binance |
| Stock price | 6.24 USD | 2026-11-07 06:00 KST | Yahoo Finance |
| Coins held | 894,431 | 2026-10-26 | IR |
| Shares outstanding | 217,223,604 | 2026-08-03 | 10-Q |
| Cash & USD assets | $56,200,000 | 2026-06-30 | 8-K |
| Debt (face) | $0 | 2026-06-30 | 8-K |
| Preferred (liquidation pref.) | none | — | — |
Calculation
- Coin value
- 894,431 × $2,245.89 = $2.01B
- Market cap
- 217,223,604 sh × $6.24 = $1.36B
- mNAV
- $1.36B ÷ $2.01B = 0.67×
- EV mNAV
- ($1.36B + debt $0 + preferred 0 − cash $56.2M) ÷ $2.01B = 0.65×
- Coins / 1,000 shares
- 4.1176 ETH
- 1.0× price
- $9.25
- Implied ETH price
- $1,515.46
- Avg purchase price
- $3,548 2026-06-30 · 10-Q
- vs. cost
- -36.7% −$1.16B
- Debt/NAV
- 0%
Calculator
Stock at current mNAV (0.67×)—
Stock at 1.0×—
mNAV—
Implied ETH price—
mNAV history
Holdings history as reported
| As of | Holdings | Change | Shares | Source |
|---|---|---|---|---|
| 2026-10-26 | 894,431 | +5,493 | IR | |
| 2026-08-03 | 888,938 | +2,057 | 217,223,604 | filing |
| 2026-06-30 | 886,881 | +156 | 216,983,308 | filing |
| 2026-06-28 | 886,725 | +10,949 | filing | |
| 2026-06-16 | 875,776 | +2,792 | filing | |
| 2026-05-04 | 872,984 | +2,163 | filing | |
| 2026-03-31 | 870,821 | +2,122 | 199,125,509 | filing |
| 2026-03-01 | 868,699 | +901 | filing | |
| 2026-02-15 | 867,798 | +3,201 | filing | |
| 2025-12-31 | 864,597 | +1,173 | filing | |
| 2025-12-14 | 863,424 | +2,173 | filing | |
| 2025-11-09 | 861,251 | +1,398 | filing | |
| 2025-10-19 | 859,853 | +42,106 | filing | |
| 2025-09-30 | 817,747 | -20,405 | filing | |
| 2025-09-14 | 838,152 | +922 | filing | |
| 2025-08-31 | 837,230 | +315,291 | filing | |
| 2025-08-03 | 521,939 | filing |
Recent 8-Ks
- 2026-08-10 2.02 Results EX-99.1