$0.93
-6.2%A Bitcoin accumulation and mining company formed via the merger of American Data Centers and Hut 8’s mining division. It aims to maximize Bitcoin held per share through a dual strategy combining scaled mining operations with opportunistic Bitcoin purchases. The company began trading on Nasdaq in September 2025 following its merger with Gryphon Digital Mining.
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$88.6M | -$98.5M | -$109.6M | -$122.0M | -$135.7M | -$151.0M | -$168.0M | -$187.0M | -$208.0M | -$231.4M |
| Maintenance CapEx | -$0 | -$0 | -$0 | -$0 | -$0 | -$0 | -$0 | -$0 | -$0 | -$0 |
| Owner Earnings | -$88.6M | -$98.5M | -$109.6M | -$122.0M | -$135.7M | -$151.0M | -$168.0M | -$187.0M | -$208.0M | -$231.4M |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | -$82.0M | -$84.5M | -$87.0M | -$89.7M | -$92.4M | -$95.2M | -$98.0M | -$101.0M | -$104.1M | -$107.2M |
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