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The9 Limited (NCTY) Bitcoin Treasury Dashboard

Track NCTY BTC holdings, mNAV, volume, volatility, price, and treasury analytics.

The9 Limited logo
The9 Limited (NCTY)
🇨🇳
#88
BitcoinQuant
BTC Price
Current price of Bitcoin
$81,920
NCTY BTC Holdings
Bitcoins held on balance sheet
₿285
NCTY mNAV (EV)
Enterprise Value ÷ BTC NAV; premium (>1) or discount (<1)
11.00x
NCTY Stock Price
Latest stock price (in USD)
$5.35
NCTY % from 52W High
Current price gap from 52-week high
-56%
NCTY Enterprise Value
MCap + Debt + Pref - Cash
$256.7M
NCTY Market Cap
Equity market value
$80.6M
NCTY BTC NAV
Current value of BTC = holdings × BTC price
$23.3M
NCTY MCAP as % of BTC
Market capitalization as a percentage of Bitcoin holdings value
345%
NCTY BTC Supply %
Company BTC holdings as % of total 21M Bitcoin supply
0.001%
NCTY mNAV (MCap)
Market Cap ÷ BTC NAV; premium (>1) or discount (<1)
3.45x
NCTY 1W Return
May 12, 2026 ($6.55) → May 19, 2026 ($5.35)
-18.32%
NCTY 1M Return
Apr 17, 2026 ($5.41) → May 19, 2026 ($5.35)
-1.11%
NCTY 3M Return
Feb 18, 2026 ($5.32) → May 19, 2026 ($5.35)
+0.56%
NCTY YTD Return
Dec 31, 2025 ($6.37) → May 19, 2026 ($5.35)
-16.01%
NCTY 1Y Return
May 19, 2025 ($12.27) → May 19, 2026 ($5.35)
-56.40%
NCTY 1Y vs BTC
Stock 1Y return minus BTC 1Y return (percentage points)
-35.17 p.p.
NCTY 52W High
Highest price in the last 52 weeks (in USD)
$12.18
NCTY Basic Shares
Estimated basic shares outstanding
15,061,143
NCTY Shares per BTC held
How many shares you need to get exposure to 1 full Bitcoin through the stock
—
NCTY Trading Volume ($)
Most recent day's trading volume (VWAP × Volume)
$213.03K
NCTY Avg 30D Volume
Average daily trading volume over the last 30 calendar days (VWAP × Volume)
$189.54K
NCTY Debt
Total outstanding debt (Latest reported Yahoo Finance value)
$234.6M
NCTY Debt/BTC NAV
Debt as a % of BTC NAV
—
NCTY BTC Rating
BTC NAV ÷ Total Debt
—
NCTY Cash
Total cash and cash equivalents
$58.49M
NCTY Hist Volatility (30D)
Annualized standard deviation of the daily natural log return measured over the last 30 trading days
67.0%
NCTY Hist Volatility (1Y)
Annualized standard deviation of the daily natural log return measured over the last calendar year
75.7%
NCTY Implied Volatility
Open interest-weighted implied volatility from options market across all expirations
—
NCTY Open Interest
Outstanding open interest contracts × 100 shares × live share price
—
NCTY Put Open Interest
Outstanding put open interest contracts × 100 shares × live share price
—
NCTY Call Open Interest
Outstanding call open interest contracts × 100 shares × live share price
—
NCTY Put to Call
Ratio of put open interest to call open interest (put OI ÷ call OI). < 1.0 = more calls (bullish), > 1.0 = more puts (bearish)
—
NCTY Duration (Days)
Open Interest-weighted average of days to expiration for options on this asset. Higher values indicate longer-term options activity.
—
NCTY Short Interest (% Float)
% of tradable shares sold short
—
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About The9 Limited's Bitcoin Treasury Strategy

The9 Limited (NCTY) ranks #88 globally among Bitcoin treasury companies, with 285 Bitcoin in its corporate treasury worth approximately $23.35M at current prices. This represents 0.001% of the total 21 million Bitcoin that will ever exist.

Trading at a stock price of $5.35 per share with a market capitalization of $80.58M, The9 Limited's stock currently trades at an mNAV (enterprise value to Bitcoin NAV multiple) of 11.00x. Bitcoin holdings represent 29% of the company's market cap, underscoring Bitcoin's central role in The9 Limited's balance sheet strategy.

Recent stock performance shows -18.32% over the past week, -1.11% over the past month, -16.01% year-to-date, and -56.40% over the past year. The9 Limited currently trades -56.08% from its 52-week high. The stock averages $189.54K in daily trading volume over the past 30 days, with 30-day volatility at 67.0%.

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Bitcoin Preferred Equity

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The9 Limited (NCTY) Bitcoin Treasury Detailed Analysis

Track The9 Limited (NCTY) Bitcoin purchases, mNAV, stock price, market cap, volatility, volume and treasury holdings.

Bitcoin Exposure & Holdings

The9 Limited (NCTY) currently holds 285 Bitcoin in its corporate treasury. This represents 0.001% of the total 21 million Bitcoin that will ever exist.

At a current Bitcoin price of $81,920.00, The9 Limited's Bitcoin holdings are worth approximately $23.35 million, which represents the company's Bitcoin NAV (Net Asset Value).

The9 Limited's total cost basis for its Bitcoin holdings is $0.00, putting the company at a N/A unrealized loss on its Bitcoin position.

Valuation Metrics & Market Capitalization

The9 Limited (NCTY) stock price currently trades at $5.35 per share.

With a market capitalization of $81.71 million, The9 Limited ranks as a leading Bitcoin treasury company by equity market value.

On an Enterprise Value basis, The9 Limited's mNAV is 11.00x, meaning the market values the company's total capital structure at 11.00x times its underlying Bitcoin holdings.

On a Market Cap basis, The9 Limited's mNAV is 3.45x relative to Bitcoin NAV.

Bitcoin holdings represent 28.6% of The9 Limited's total market capitalization, underscoring Bitcoin's central role in the company's balance sheet strategy.

The9 Limited's Enterprise Value is $256.72 million, calculated as Market Cap plus Debt plus Preferred Stock minus Cash.

Financial Health & Balance Sheet

The9 Limited has total outstanding debt of $234.63 million, representing a debt-to-Bitcoin NAV ratio of 10.05x.

The BTC Rating for The9 Limited is 0.10x (Bitcoin NAV ÷ Total Debt), indicating 0.10x coverage of total debt by Bitcoin holdings.

In cash and cash equivalents, The9 Limited holds $58.49 million.

The9 Limited reported total revenue of $107.90 million and operating cash flow of $-31,756,000.00.

Trading Volume & Risk Metrics

In the most recent trading session, NCTY recorded $213,031.65 thousand in dollar volume.

Over the past 30 days, NCTY has averaged $189,542.42 thousand in daily trading volume.

The9 Limited's 30-day historical volatility is 67.0%.

Over the past calendar year, NCTY's historical volatility is 75.7%.

The9 Limited's beta is 2.20x.

Short interest for NCTY represents 1.4% of tradable shares.

The9 Limited's 90-day correlation with IBIT (iShares Bitcoin Trust ETF) is 33.9%, measuring how closely the stock tracks spot Bitcoin exposure.

NCTY currently trades -56.08% from its 52-week high.

The9 Limited Bitcoin Treasury Data & Analysis on BitcoinQuant

The interactive The9 Limited Bitcoin treasury chart above provides a comprehensive visualization of the company's Bitcoin treasury performance over time, allowing investors to track BTC holdings, acquisition rates, and valuation metrics.

All of the data on this page — including The9 Limited's Bitcoin NAV, mNAV, BTC Rating, cost basis, and options activity — is calculated in real time and updated continuously on BitcoinQuant. By analyzing these treasury metrics alongside historical acquisition data and market performance, investors can gain insights into The9 Limited's Bitcoin accumulation strategy and compare it against other Bitcoin treasury companies tracked across the BitcoinQuant platform.

BitcoinQuant tracks the full universe of public companies holding Bitcoin, providing real-time analytics on holdings, valuations, financial health, trading activity, and risk metrics across every Bitcoin treasury stock in the market.

Data as of: 05/11/2026, 2:05 PM ET

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