Ryan
7.5K posts
$BMNR
MNAV (Cash) = 0.99
NAV per share = $3,295
$BMNR $33.29
$ETH $3,295
Dansk
@ryantropy @BitMNR @BMNRTracker @FarsideUK Clean start to the year for ETH when fundamentals line up like this it usually gets interesting @ryantropy appreciate the breakdown and would love a follow back
English
@ryantropy @BitMNR @BMNRTracker @FarsideUK Nice to see multiple signals lining up for ETH momentum early in the year 👀📈
Just followed you and really enjoy your insights would love a follow back 😊
English
@BMNRTracker Love to see it
I feel like you can see in the chart ~ 1 hour ago where BMNR raised a bit ATM. Ha
English
English
English
@jordanovweb3 @BitMNR @BMNRTracker @FarsideUK u r 2 kind
Too a long break from covering the ETH DATs, but bullish that story isn’t over as we start 2026.
GIF
English
English
@remiaxyz @BitMNR @BMNRTracker @FarsideUK Same. It was oversold.
I also think there’s some reflexivity between the ETF purchases and Bitmine purchases. If one of them can pick up again, the other will too.
English
In my opinion:
There is no point in buying back shares if they will just ATM more when the mNAV is back above 1.00.
Just buy more $ETH. Continue staking.
At the end of the day if $ETH performs, $BMNR will recover.
Need $ETH to go up. Nothing else matters
The Bullish Plumber@BullishPlumber
Interesting take from a $BMNR Redditor. I believe Tom did state that the future buyback program would in place in the instance that @BitMNR would trade below NAV.
English
@BMNRTracker But that was 6 days ago. They undoubtedly are selling more shares every day, eh?
English
$BMNR
MNAV (Cash) = 1.03
NAV per share = $30.60
$BMNR $31.53
$ETH $2,987
Dansk
@BMNRTracker Still have ~ $1b cash to help make it happen.
… but it doesn’t look great. 🥶
English
$SBET hasn’t bought $ETH since October 19th because their MNAV is below 1.00. If $ETH doesn’t get moving to the upside, $BMNR would be in danger of this as well the way their MNAV has moved the past week
Sharplink@Sharplink
In 6 months, we: • Accumulated 863,424 ETH and staked nearly 100% of it • Earned 9,241 ETH through staking rewards • Doubled the ETH concentration to 4.02 • And this is just the beginning
English
$BMNR
MNAV (Cash) = 1.01
NAV per share = $28.95
$BMNR $29.36
$ETH $2,812
Dansk
@BMNRTracker That would be great. Researching. :)
Just dm’d.
The calc is simple and it’s clear the shares is the only ‘debatable’ piece.
GIF
English
$BMNR
MNAV (Cash) = 1.04
NAV per share = $30.19
$BMNR $31.40
$ETH $2,943
Dansk
@BMNRTracker Got it! Thank you.
Tried for myself… The difference below is probably ETH & $BMNR price moves and rounding.
$BMNR Price: $30.82
$BMNR Shares: 421.5m
$BMNR mcap: $12.99b
ETH value: $11.71b
BTC value: $0.02b
Cash value: $1.00b
Other value: $0.04b
Total NAV: $12.77b
mNAV: 1.02
English
@ryantropy MNAV (Cash) is the value of the assets including the cash pile. So essentially just the basic MNAV.
Yes, the value of the ETH, BTC, ORB, Cash.
I take $BMNR price and multiply it by my outstanding shares estimate to get the MC.
I then divide the MC by the NAV. Gives me MNAV
English
Economic Projections of Federal Reserve Board Members and Federal Reserve Bank Presidents: federalreserve.gov/newsevents/pre…
English