Guide

Written in order for first-time readers. Numbers in the articles update live with the site.

1. What is mNAV?How many times the company's total share value is worth the coins it holds. What 1× means, with a live example.
2. What is a digital asset treasury company?Listed companies whose main business is buying and holding coins. How they raise money and why the stock trades above or below its coins.
3. Above 1× expensive, below 1× cheap?What premium and discount mean, and why the number alone misleads. Coins per share growth and breakeven.
4. Why dilution changes the numberBasic vs fully diluted shares, how convertibles and options change mNAV, and why company-reported mNAV differs.
5. Why mNAV differs from site to siteFormula, share count, holdings date and price timing — four reasons the numbers differ, and what to check.

Exact formulas and sources: Method · About