Crypto Treasury 10-Q & NAV Workbench ($BMNR)

Filing & Market Assumptions Interactive

ETH Spot Price (USD) $3,400

Current Share Price ($BMNR)

10-Q Line Items

ETH Treasury Holdings (Tokens)

ETH Avg Cost Basis ($ / ETH)

Cash & Equivalents ($ USD)

Total Shares Outstanding

Q3 Operating Revenue ($ USD)

Q3 Operating Expenses ($ USD)

Key Valuation Metrics MARK-TO-MARKET LIVE

NAV Per Share Book Value: $11.74/sh

Market Premium / Discount +20.26% Trading at Premium

Total Treasury Value $153.00M Gain: +$24.75M

Q3 Net Operating Income $1.10M Op Cash Flow Positive

Balance Sheet / Income Line Item	Book Value (Cost)	Mark-to-Market	Per Share
Cash & Cash Equivalents	$18.50M	$18.50M	$1.48
ETH Digital Asset Treasury (45,000 tokens)	$128.25M	$153.00M	$12.24
Total Adjusted Assets (NAV)	$146.75M	$171.50M	$13.72
Implied Unrealized Crypto Gain / (Loss)	-	+$24.75M	+$1.98
Quarterly Revenue vs. Operating Expenses	$4.20M Rev	$3.10M OpEx	+$1.10M NOI

Component Breakdown: Cash + Digital Treasury Asset Base vs. Share Price Valuation

Modeled Share Price & NAV Sensitivity across ETH Price Shock Scenarios (-50% to +100%)

Institutional Earnings Summary & Memo Preview