Net Holding A.S. (NTHOL) — Market Cap vs Bitcoin NAV
Net Holding A.S. (NTHOL) currently trades at a market cap vs Bitcoin NAV ratio of 14.36x, which means the market values the company at 1336.1% premium to the underlying Bitcoin-innehav. With 352 Bitcoin on its balance sheet worth $28,476,126 at the live spot price, and a market capitalisation of $408,942,013, NTHOL holds rank #21 of 68 tracked Bitcoin treasury companies by this metric on HodlingBTC.
How NTHOL's Market Cap vs Bitcoin NAV Is Calculated
The market cap vs Bitcoin NAV ratio for Net Holding A.S. is computed as the company's market capitalisation divided by the product of its disclosed Bitcoin-innehav and the Bitcoin spot price. At the last update the inputs for NTHOL were a market cap of $408,942,013, 352 BTC, and a Bitcoin spot price of 80,898. The resulting ratio of 14.36x quantifies how much premium (or premium, when above 1.0x) the equity market is assigning to NTHOL beyond the value of the underlying Bitcoin treasury. A ratio above 1.0x means the company is trading at a premium to the value of its Bitcoin stash; below 1.0x means a discount. The number does not account for operating businesses, capital structure, debt, preferred shares, or other liabilities that sit between common shareholders and the underlying Bitcoin.
What 14.36x Means for Net Holding A.S. Shareholders
Net Holding A.S.'s ratio of 14.36x places the stock at a 1336.1% premium to its Bitcoin NAV. When investors pay a premium for a Bitcoin treasury equity, the additional value typically reflects the company's operating business, ability to issue new shares accretively, exposure to future Bitcoin acquisition, or simply the convenience of holding Bitcoin exposure inside a regulated equity wrapper. Premiums can compress quickly if dilution accelerates or if the underlying Bitcoin acquisition slows. The ratio is one input among several; capital structure, debt obligations, share class differences, and operating cash flow all influence what shareholders actually receive per share of NTHOL.
NTHOL vs Other Bitcoin Treasury Companies
How NTHOL compares against the 4 companies ranked closest by market cap vs Bitcoin NAV ratio on HodlingBTC's tracker:
| # | TICKER | BOLAG | HUVUDKONTOR | KVOT |
|---|---|---|---|---|
| 19 | 112040 | WEMADE | 🇰🇷 | 19.03x |
| 20 | ABTC | American Bitcoin Corp | 🇺🇸 | 14.44x |
| 21 | NTHOL | Net Holding A.S. | 🇹🇷 | 14.36x |
| 22 | HUT | Hut 8 Mining Corp | 🇺🇸 | 12.90x |
| 23 | KEEL | Keel Infrastructure Corp | 🇨🇦 | 10.33x |
See the full ranking for every public Bitcoin treasury company on the Market Cap vs Bitcoin NAV page.
Vanliga fragor
What is Net Holding A.S. (NTHOL)'s market cap vs Bitcoin NAV ratio?
Net Holding A.S. trades at a market cap vs Bitcoin NAV ratio of 14.36x, calculated as its market capitalisation of $408,942,013 divided by the value of its 352 BTC holdings ($28,476,126 at the last recorded Bitcoin spot price). This represents a 1336.1% premium to the underlying Bitcoin NAV.
Why is NTHOL trading at a premium to its Bitcoin NAV?
premium values reflect the market's view of Net Holding A.S. beyond its Bitcoin-innehav alone. A premium typically indicates investors are paying extra for the company's operating business, capital structure access, optionality on future Bitcoin accumulation, or the convenience of equity exposure to BTC.
How often is NTHOL's market cap vs Bitcoin NAV updated on HodlingBTC?
The figures on this page are a snapshot, recalculated a few times each trading day rather than quoted live. Bitcoin spot price is sourced from Coinbase, market capitalisation from the latest available share count multiplied by the most recent stock price, and BTC holdings from the most recent disclosed figure in Net Holding A.S.'s SEC or primary-source filings.