Norwegian Block Exchange AS
NBX🇳🇴Equity
Norwegian crypto exchange and digital asset platform, first publicly listed Bitcoin treasury company in Norway. Uses LDA Capital equity facility ($10M) to fund BTC purchases, which serve as collateral for MiCA-compliant stablecoin issuance.
BTC Holdings
19 BTC
Insufficient history
Stock Price
0.47 NOK
180d
Total financing
33.05M NOK
Insufficient history
mNAV
12.02x
180d
Leverage
179.1%
180d
BTC Credit
>9,999 bps0.6x
Sats/Share
6
180d
Mkt capFD
153.37M NOK
SharesFD
326.31M
Fiat reserve
10.19M NOK
Total reserve
22.95M NOK
Dilution
20.3%
Coverage
3.9 yr
BTC mix
0%
Analytics
BTC Coverage
Financials
IFRSSemi-AnnualAs of 2025-06-30
Balance Sheet
Total Assets158.9M NOK▲18.5%
Total Liabilities85.6M NOK▲36.2%
Stockholders' Equity73.4M NOK▲3.0%
Cash & Equivalents456K NOK▼52.0%
Total Debt19.3M NOK▼10.7%
Digital Assets—
Income Statement
Revenue9.2M NOK▲331.7%
Operating Income-8.7M NOK▲26.5%
Net Income-7.7M NOK▲20.5%
Interest Expense1.3M NOK▼5.8%
Cash Flow
Operating Cash Flow-10.9M NOK▲11.9%
Instruments
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| NBX-Nov26 | Oct '22 – Nov '26 | 9.9% | 41.00M NOK | 33.05M NOK | 0.60 NOK | 0.6x |
| Total | 33.05M NOK | |||||
Recent Changes
Fri, Mar 20, 2026
BTC Holdings
16→19+3 BTC(+18.8%)
5.68 BTC Acquisition at NOK 667,482, POA 6 Initiated
Wed, Jan 21, 2026
Shares Outstanding
235.0M→271.2M+36.2M(+15.4%)
Share Capital Increase (POA 3-4 + Flip Company)