coin-img-ETHETH-3.84%coin-img-BTCBTC-3.80%coin-img-SOLSOL-4.92%coin-img-UCNUCN+0.68%coin-img-XRPXRP-4.20%coin-img-ASTERASTER-0.41%coin-img-USDCUSDC+0.05%coin-img-DOGEDOGE-4.40%coin-img-ETHETH-3.84%coin-img-BTCBTC-3.80%coin-img-SOLSOL-4.92%coin-img-UCNUCN+0.68%coin-img-XRPXRP-4.20%coin-img-ASTERASTER-0.41%coin-img-USDCUSDC+0.05%coin-img-DOGEDOGE-4.40%coin-img-ETHETH-3.84%coin-img-BTCBTC-3.80%coin-img-SOLSOL-4.92%coin-img-UCNUCN+0.68%coin-img-XRPXRP-4.20%coin-img-ASTERASTER-0.41%coin-img-USDCUSDC+0.05%coin-img-DOGEDOGE-4.40%coin-img-ETHETH-3.84%coin-img-BTCBTC-3.80%coin-img-SOLSOL-4.92%coin-img-UCNUCN+0.68%coin-img-XRPXRP-4.20%coin-img-ASTERASTER-0.41%coin-img-USDCUSDC+0.05%coin-img-DOGEDOGE-4.40%

Crypto Treasury Firms' mNAV Falls Below 1, Bitmine Drops to 0.83

Several cryptocurrency treasury companies saw their mNAV ratios drop below 1 on Nov. 18, BlockBeats reports. Strategy (MSTR) recorded an mNAV of 0.937, with its $56 billion market cap trailing its Bitcoin holdings of 649,870 BTC valued at $59.9 billion. Metaplanet's mNAV stood at 0.912, with a $2.61 billion market cap against 30,823 BTC worth $2.84 billion. Bitmine (BMNR), the largest institutional Ethereum holder with roughly 3.51 million ETH valued at $10.63 billion, saw its market cap fall to $8.81 billion with an mNAV of 0.83. SharpLink (SBET), second in institutional ETH holdings with 860,000 ETH worth $2.61 billion, reported a market cap of $2.02 billion and an mNAV of 0.84.
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