mNAV MoamNAV1.84×
EV mNAV2.07×
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 | 0.37 USD | 2026-11-07 06:00 KST | Yahoo Finance |
| Coins held | 1,029 | 2026-10-23 | S-1 |
| Shares outstanding | 388,169,806 | 2026-10-23 | S-1 |
| Cash & USD assets | $2,987,230 | 2026-06-30 | 10-Q |
| Debt (face) | $21,000,000 | 2026-10-23 | S-1 |
| Preferred (liquidation pref.) | $0 | 2026-06-30 | 10-Q |
XBRL quarterly values
| Item | XBRL | As of | Tag |
|---|---|---|---|
| Cash & USD assets | $3,465,652 | 2026-09-30 | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Debt (face) | $0 | 2025-12-31 | us-gaap:ConvertibleNotesPayable |
| Shares outstanding | 388,169,806 | 2026-11-04 | dei:EntityCommonStockSharesOutstanding |
Calculation
- Coin value
- 1,029 × $76,000.01 = $78.2M
- Market cap
- 388,169,806 sh × $0.37 = $143.6M
- mNAV
- $143.6M ÷ $78.2M = 1.84×
- EV mNAV
- ($143.6M + debt $21.0M + preferred $0 − cash $3.0M) ÷ $78.2M = 2.07×
- Coins / 1,000 shares
- 0.0027 BTC
- 1.0× price
- $0.20
- Implied BTC price
- $139,541.25
- Avg purchase price
- $115,567 2025-08-06 · 10-Q
- vs. cost
- -34.2% −$40.7M
- Debt/NAV
- 27%
Calculator
Stock at current mNAV (1.84×)—
Stock at 1.0×—
mNAV—
Implied BTC price—
mNAV history
Holdings history as reported
| As of | Holdings | Change | Shares | Source |
|---|---|---|---|---|
| 2026-10-23 | 1,029 | 388,169,806 | S-1 |
Recent 8-Ks
- 2026-10-14 1.01 Material agreement · 2.03 Debt incurred · 8.01 Other events
- 2026-10-01 1.01 Material agreement · 2.03 Debt incurred
- 2026-09-16 2.03 Debt incurred
- 2026-08-03 2.03 Debt incurred · 8.01 Other events