GAME by Virtuals price

$ATNF $BMNR $BTBT $BTCS $DYNX $ETHZ $FGF $FGNX $GAME $SBET Daily DAT Update (Mon 8/18/25): $ATNF changes ticker to $ETHZ and adds 12,489 ETH WoW for $4,531 per ETH, increasing average cost basis to $3,902. $BMNR boosts ETH stack by 373,110 tokens to 1,523,373 ETH. No disclosure on how many shares were issued, but my guess is ~27mm via ATM (5% of ADTV). Net impact to mNAV after today’s move is down from 2.1x to 1.8x. $BTCS approves 5c dividend for Common and Series V Preferred shareholders. Shareholders can receive either cash or ETH (“Bividend”). First time I’ve seen an ETH dividend, but apparently they did something similar in 2022, but with BTC. Additionally plans to issue a one-time loyalty payment of 35c/share (7%) to shareholders that HODL shares from 9/26/25 through 1/26/26. Works out to ~$20mm for both dividends. Volumes down for 4th consecutive session to $3.6bn with ETH flattish. Most notable decline is ETHZ, which peaked last week at $2.3bn and does $47mm today. Lots of debate over the weekend on what’s better, low mNAV (value) or high mNAV (growth). I think of mNAV as a proxy for risk/beta. Higher mNAV works great on the way up but hurts more on the way down (e.g. BMNR -5% vs SBET +1% today). If I had to choose, I’d want low mNAV, with high trading volumes and access to non-dilutive funding. Risk/reward feels pretty good owning 1.0x-ish mNAVs with potential for re-rating upwards when sentiment improves. Won’t mention names but you can probably figure it out.

$ATNF $BMNR $BTBT $BTCS $DYNX $FGF $FGNX $GAME $SBET Daily DAT Update (Fri 8/15/25 3:05pm ET): $SBET earnings out this morning. 10-Q shows 169mm shares as of 8/14/25, up from 158mm (pro forma for $400mm direct offering) as of 8/10/25. Implies ATM issuance of 3-4% of ADTV. No disclosure of current cash balance but my guess is $200-250mm. Conf call takeaways: goal to become the world’s largest & most trusted Ethereum treasury | raising capital to aggressively grow ETH holdings & further monetize via staking, restaking & DeFi to boost ETH/share over time | partnership with Consensys & institutional-grade custody gives them early insight & operational scale. $BTBT earnings takeaways: sold all Bitcoin & scaled ETH holdings to 121K | generating yield via native and liquid staking while winding down BTC mining | 74% stake in $WYFI provides potential non-dilutive capital to grow ETH over time | minimal details on $WYFI ops due to lock-up period expiring end of month. $GAME earnings takeaways: no change to ETH balance of 15,630 | still targeting 8–14% yields via Dialectic, NFT yield and Web3 opportunities | gaming growth will be back-end loaded, reaffirming path to positive EBITDA | plan to start releasing yield results at month end. Rough day for the group despite DJI boomer index notching ATH. Month-to-date, all except $ATNF and $BMNR have underperformed ETH. With half of the group trading at or below mNAV, feels like we’re close to bottoming. If it’s any consolation, $MSTR and $MTPLF have underperformed BTC during same period. Volumes decline a 4th day in a row at the time of writing.

🟢 SΞR STATS: In just 2 months, 14 public treasuries have added 2.6M ETH ($11.7B). 👉 $BMNR, $SBET account for 75% of that total.