Methodology

Bitcoin and crypto prices come from live market-data feeds and are refreshed continuously. On-chain network metrics — hashrate, mining difficulty, block times and mempool activity — are sourced from public Bitcoin block explorers.

Equity quotes for treasury and mining companies come from live stock-market data providers during and around trading hours. Treasury holdings are drawn from public treasury trackers and company disclosures such as press releases and SEC filings (including 8-Ks); when a live tracker is rate-limited or unavailable, the site falls back to the last publicly disclosed holdings and labels the figure accordingly.

Some inputs that no free real-time feed provides — for example the share counts of Strategy’s preferred stock — are maintained as constants sourced from official filings and updated as new disclosures are published.

A treasury company’s bitcoin net asset value (NAV) is its bitcoin holdings multiplied by the live BTC price. The mNAV compares the company’s market capitalisation to that bitcoin NAV: a value above 1 means the market is paying a premium to the bitcoin the company holds, and below 1 means it trades at a discount.

Because both market cap and BTC price move continuously, the premium or discount is recomputed from live inputs rather than stored. Related metrics such as BTC yield and leverage are derived the same way — from disclosed holdings and debt combined with live prices. See valuing Bitcoin treasury stocks for the full reasoning.

Live prices (bitcoin, crypto and equities) update on short intervals of roughly 15–60 seconds while their markets are open. On-chain network data updates as new blocks and difficulty epochs are confirmed. Treasury holdings change far less often — typically only when a company discloses a new purchase — so those figures refresh on a slower cadence and always carry an “as of” date.

Every panel is designed to be explicit about what it is showing. A live reading is labelled as such; a value that is modelled, estimated, or based on the last disclosed figure is labelled differently so it is never mistaken for a real-time number.

Critically, there is no placeholder or sample data anywhere on the site. When a data source is temporarily unavailable, the affected panel says so rather than showing a stale or invented figure. This means occasional gaps are shown honestly instead of being papered over.

Bitcoin Treasury BI is provided for informational purposes only and is not investment advice.