What is WEMADE (112040.KQ)'s mNAV?

WEMADE's mNAV is currently 19.92×. mNAV divides 112040.KQ's market capitalisation by the value of the Bitcoin it holds, so 19.92× means the market values the company at 19.92× the worth of its Bitcoin treasury (17.1M USD).

Is WEMADE (112040.KQ) overvalued versus its Bitcoin?

At 19.92×, WEMADE (112040.KQ) trades at a 1892% 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 18.93×–46.63×.

How much Bitcoin does WEMADE (112040.KQ) hold?

WEMADE holds 223 BTC, worth 17.1M USD at current prices. Its most recent purchase was 223 BTC on Sep 30, 2024.

WEMADE

Name: WEMADE (112040.KQ) mNAV time series
Creator: mNAV

112040.KQ

Market valuation vs the Bitcoin it holds

19.92×

live

Premium

a 1892% premium to Bitcoin NAV

WEMADE trades at 19.92× its Bitcoin NAV — you pay $19.92 for every $1 of Bitcoin it holds, a 17.1M USD pile.

Live · last updated Nov 3, 2026

BTC held

223 BTC

Bitcoin treasury

Bitcoin NAV

17.1M USD

at today's BTC price

Market cap

340.8M USD

Fully diluted

Share price

13.4K KRW

KRW

Last BTC buy

223 BTC

Sep 30, 2024

mNAV over time

Last 12 months · diluted

Today's 19.92× sits in a 52-week range of 18.93× to 46.63×.

mNAV · 52-week range

18.93×–46.63×

18.93×now 19.92×46.63×

About WEMADE

WEMADE (112040.KQ) owns 223 BTC. At today's price that Bitcoin is worth 17.1M USD. The market caps the whole company at 340.8M USD — 19.92× its Bitcoin. Put plainly: you pay $19.92 for every $1 of Bitcoin it holds, a 1892% premium for everything that isn't the Bitcoin. It bought in at an average of 160 USD per coin.

Company facts

Country: South Koreasource
Headquarters: Seongnam, Gyeonggi-do, South Koreasource
Incorporated: South Korea (jusikhoesa / stock company; Wemade Co., Ltd., est. 2000-02-10)source
Business: PC/mobile game development and publishing, IP licensing, blockchain (WEMIX)source
Fiscal year end: December 31source
Auditor: Samil PricewaterhouseCoopers (삼일회계법인)source
Website: wemade.com ↗source
Investor relations: IR site ↗source
Social: LinkedIn ↗YouTube ↗source

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

WEMADE (112040.KQ) mNAV — frequently asked

What is WEMADE (112040.KQ)'s mNAV?: WEMADE's mNAV is currently 19.92×. mNAV divides 112040.KQ's market capitalisation by the value of the Bitcoin it holds, so 19.92× means the market values the company at 19.92× the worth of its Bitcoin treasury (17.1M USD).
Is WEMADE (112040.KQ) overvalued versus its Bitcoin?: At 19.92×, WEMADE (112040.KQ) trades at a 1892% 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 18.93×–46.63×.
How much Bitcoin does WEMADE (112040.KQ) hold?: WEMADE holds 223 BTC, worth 17.1M USD at current prices. Its most recent purchase was 223 BTC on Sep 30, 2024.

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Full WEMADE dashboard →Live treasury terminal Bitcoin treasuries by mNAV What is mNAV?112040.KQ investor relations ↗