Crypto treasury stock discount map — full mNAV breakdown by coin.
$SBET Sharplink trades at 0.66x on fresh holdings — cleanest real discount right now. $FWDI Forward Industries at 0.97x, $MSTR Strategy at 1.04x, $ASST Strive at 1.42x. $BTBT Bit Digital shows 0.48x but holdings are 44 days stale — watch the lag.
How mNAV works: take market cap, add debt and preferred, subtract cash, divide by coin holdings plus other assets. Under 1.0x = stock priced below what it holds. Simple.
$BMNR BitMine at 0.91x est., $ORBS Eightco at 0.72x est. — both using estimated share counts so verify before entry. $CYPH Cypherpunk at 1.41x est., counting warrants already paid but not yet converted. Holdings over 30 days old — freshness matters.
Discount alone isn't alpha. Check data age, share count accuracy, and whether the treasury is static or actively managed. Fresh holdings + tight discount = better setup. Stale data or warrant bloat = hidden risk.
$SBET Sharplink trades at 0.66x on fresh holdings — cleanest real discount right now. $FWDI Forward Industries at 0.97x, $MSTR Strategy at 1.04x, $ASST Strive at 1.42x. $BTBT Bit Digital shows 0.48x but holdings are 44 days stale — watch the lag.
How mNAV works: take market cap, add debt and preferred, subtract cash, divide by coin holdings plus other assets. Under 1.0x = stock priced below what it holds. Simple.
$BMNR BitMine at 0.91x est., $ORBS Eightco at 0.72x est. — both using estimated share counts so verify before entry. $CYPH Cypherpunk at 1.41x est., counting warrants already paid but not yet converted. Holdings over 30 days old — freshness matters.
Discount alone isn't alpha. Check data age, share count accuracy, and whether the treasury is static or actively managed. Fresh holdings + tight discount = better setup. Stale data or warrant bloat = hidden risk.
