After the recent update, we can estimate that $BMNR raised about $128 million to buy the 60,999 $ETH at an estimated price of $2,100 last week. $BMNR also increased their stake in $ORBS by $80 million dollars. This increases their amount of cash raised to about $208 million. No cash was added to the pile. In order to raise the $208 million we can assume $BMNR had to issue about 9.82 million shares at an estimated average of $21.20 per share. This raises the estimated shares outstanding to 527.6 million. It is important to remember there are likely more shares outstanding but I can not see stock based compensation until their next 10-Q comes out. MNAV = 0.99