What is mNAV?
mNAV (Market Cap to Net Asset Value) is a key financial metric used in the DAT-PREMIUM dashboard to evaluate whether a Bitcoin treasury company's stock trades at a premium or discount relative to its crypto holdings. The formula is simple: mNAV equals Market Capitalization divided by BTC Net Asset Value. When mNAV is greater than one, shares trade at a premium to NAV, meaning ATM share issuance can be non-dilutive or accretive. When mNAV is less than one, shares trade at a discount to NAV, and ATM issuance becomes dilutive on a NAV basis.
What is EVmNAV?
EVmNAV (Enterprise Value to Net Asset Value) is another critical metric on the DAT-PREMIUM dashboard. Unlike mNAV, EVmNAV reflects corporate structure and balance-sheet strength by using enterprise value instead of market capitalization. EVmNAV equals Enterprise Value divided by BTC Net Asset Value. This metric accounts for a company's debt and cash position, providing a more complete picture of corporate valuation relative to its Bitcoin treasury holdings.
Bitcoin Treasury Companies Tracked on DAT-PREMIUM
The DAT-PREMIUM dashboard tracks all major Bitcoin and Ethereum treasury companies in real time. Companies include MicroStrategy (MSTR), Coinbase (COIN), Marathon Digital (MARA), CleanSpark (CLSK), Riot Platforms (RIOT), Hut 8 Mining (HUT), Galaxy Digital (GLXY), Twenty One Capital (XXI), Bitdeer Technologies (BTBT), and many more. Each company is evaluated with live mNAV and EVmNAV metrics alongside real-time stock and crypto prices.
Market Overview Dashboard
DAT-PREMIUM provides a comprehensive market overview with real-time prices for Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), NASDAQ, S&P 500, Gold, and Silver. Crypto prices are sourced from Binance WebSocket streams, while stock and commodity prices come from Finnhub real-time feeds. The dashboard also features customizable watchlists with drag-and-drop support and interactive price charts.
Frequently Asked Questions
How is mNAV different from EVmNAV? mNAV uses market capitalization (equity value only), while EVmNAV uses enterprise value (equity plus debt minus cash). Use mNAV for ATM dilution analysis and EVmNAV for overall corporate health assessment.
Is the DAT-PREMIUM dashboard free? Yes. Real-time mNAV tracking, EVmNAV data, live prices, customizable watchlists, and market charts are all available for free with no account required for basic features.
What data sources does DAT-PREMIUM use? The dashboard prioritizes data accuracy with a three-tier source hierarchy: official company dashboards, official company social media, and SEC filings combined with CoinGecko data as a fallback.