Invests in companies that hold Bitcoin as a corporate treasury asset. Targets companies that generate a significant portion of their revenue from Bitcoin mining. Now — the numbers.
That much dependence is a risk in itself: if this one line weakens, the whole company feels it directly.
This is an established company with proven profits.
No real growth (4% a year). Red columns mark years that ended in a loss.
If every debt were paid off today, $228.5M would still be left in the vault — a solid cushion for hard times.
The market pays 1× for every dollar of annual profit — cheap, which is either an opportunity or a warning.
No analyst target is on record for this company.
angles, checked one by one.
The 3 that stand out are on screen; the rest came back neutral.
The council scores out of 10; report-card grades are out of 100.
Profit per Sale: The profit kept from each sale is thin.
The stock trades 29% below its peak. The market has trimmed its expectations for the company.
There is $263.9M in the vault; even if every debt were paid off, $228.5M would remain.
It pays out $0.80 per share each year — regular cash for whoever holds the stock.
This stock swings about 2.6 times as much as the market average. Big rallies — and big drops — can both happen fast.
Since the drop from its peak, buyer appetite hasn’t come back. Council score: 0/10.
As the slice kept from each sale thins out, so does the profit. Council score: 3/10.
We grade companies — revenue, margins, balance sheets. This is a fund, so there is no report card to give. That is not a low grade; it is a different kind of thing.
One-line summary: a basket, not a business. Judge it by what it holds.