mNAV MoamNAV0.25×
EV mNAV1.28×
Coins/share growth—
Inputs and sources
| Item | Value | As of | Source |
|---|---|---|---|
| SOL price | $90.15 | 2026-11-07 16:18 KST | Binance |
| Stock price | 0.64 USD | 2026-11-07 06:00 KST | Yahoo Finance |
| Coins held | 2,340,150 | 2026-06-30 | 10-K |
| Shares outstanding | 82,102,474 | 2026-09-15 | 10-K |
| Cash & USD assets | $5,778,586 | 2026-06-30 | 10-K |
| Debt (face) | $223,711,186 | 2026-06-30 | 10-K |
| Preferred (liquidation pref.) | $2 | 2026-06-30 | xbrl |
Calculation
- Coin value
- 2,340,150 × $90.15 = $211.0M
- Market cap
- 82,102,474 sh × $0.64 = $52.5M
- mNAV
- $52.5M ÷ $211.0M = 0.25×
- EV mNAV
- ($52.5M + debt $223.7M + preferred $2 − cash $5.8M) ÷ $211.0M = 1.28×
- Coins / 1,000 shares
- 28.5028 SOL
- 1.0× price
- $2.57
- Implied SOL price
- $22.45
- Avg purchase price
- $154 2026-06-30 · 10-K
- vs. cost
- -41.4% −$149.3M
- Debt/NAV
- 106%
Calculator
Stock at current mNAV (0.25×)—
Stock at 1.0×—
mNAV—
Implied SOL price—
mNAV history
Holdings history as reported
| As of | Holdings | Change | Shares | Source |
|---|---|---|---|---|
| 2026-06-30 | 2,340,150 | 10-K |
Recent 8-Ks
- 2026-10-07 8.01 Other events EX-99.1
- 2026-09-17 2.02 Results EX-99.1
- 2026-09-15 7.01 Reg FD EX-99.1
- 2026-09-14 1.01 Material agreement · 7.01 Reg FD EX-99.1
- 2026-09-09 8.01 Other events EX-99.1