What is Neptune (NDA.V)'s mNAV?

Neptune's mNAV is currently 1.46×. mNAV divides NDA.V's market capitalisation by the value of the Bitcoin it holds, so 1.46× means the market values the company at 1.46× the worth of its Bitcoin treasury (32.4M USD).

Is Neptune (NDA.V) overvalued versus its Bitcoin?

At 1.46×, Neptune (NDA.V) trades at a 46% premium to the Bitcoin it holds. Whether that is rich or cheap is best read against its own history: over the past year its mNAV has ranged 1.28×–3.44×.

How much Bitcoin does Neptune (NDA.V) hold?

Neptune holds 420 BTC, worth 32.4M USD at current prices. Its most recent purchase was 10 BTC on Apr 20, 2026.

Neptune

Name: Neptune (NDA.V) mNAV time series
Creator: mNAV

NDA.V

Market valuation vs the Bitcoin it holds

1.46×

live

Premium

a 46% premium to Bitcoin NAV

Neptune trades at 1.46× its Bitcoin NAV — you pay $1.46 for every $1 of Bitcoin it holds, a 32.4M USD pile.

Live · last updated Nov 3, 2026

BTC held

420 BTC

Bitcoin treasury

Bitcoin NAV

32.4M USD

at today's BTC price

Market cap

47.4M USD

Fully diluted

Share price

0.47 CAD

CAD

Last BTC buy

10 BTC

Apr 20, 2026

mNAV over time

Last 12 months · diluted

Today's 1.46× sits in a 52-week range of 1.28× to 3.44×.

mNAV · 52-week range

1.28×–3.44×

1.28×now 1.46×3.44×

About Neptune

Neptune (NDA.V) owns 420 BTC. At today's price that Bitcoin is worth 32.4M USD. The market caps the whole company at 47.4M USD — 1.46× its Bitcoin. Put plainly: you pay $1.46 for every $1 of Bitcoin it holds, a 46% premium for everything that isn't the Bitcoin. It bought in at an average of 40.2K USD per coin.

Company facts

Country: Canadasource
Headquarters: Vancouver, British Columbiasource
Incorporated: Canada (British Columbia)source
Business: Blockchain infrastructure: bitcoin mining, staking and nodes (bitcoin treasury)source
Fiscal year end: August 31source
Auditor: HDCPA Professional Corporation (Mississauga, Ontario)source
Website: neptunedigitalassets.com ↗source
Investor relations: IR site ↗source
Social: X ↗LinkedIn ↗source

Each fact links to the filing or official page it was taken from.

Neptune (NDA.V) mNAV — frequently asked

What is Neptune (NDA.V)'s mNAV?: Neptune's mNAV is currently 1.46×. mNAV divides NDA.V's market capitalisation by the value of the Bitcoin it holds, so 1.46× means the market values the company at 1.46× the worth of its Bitcoin treasury (32.4M USD).
Is Neptune (NDA.V) overvalued versus its Bitcoin?: At 1.46×, Neptune (NDA.V) trades at a 46% premium to the Bitcoin it holds. Whether that is rich or cheap is best read against its own history: over the past year its mNAV has ranged 1.28×–3.44×.
How much Bitcoin does Neptune (NDA.V) hold?: Neptune holds 420 BTC, worth 32.4M USD at current prices. Its most recent purchase was 10 BTC on Apr 20, 2026.

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Full Neptune dashboard →Live treasury terminal Bitcoin treasuries by mNAV What is mNAV?NDA.V investor relations ↗