Dilution Lab

These are hypothetical calculations from your inputs and from figures on file, not forecasts, price targets or advice. In the method's words a raise is accretive when the price per share after it is above the close, because each raised dollar became more market value than the break-even, and destructive when it is below. Those two words name the method's cases and the hypothetical presets, never a company.

1. The scenario starts from a company's filed share count and its latest close, each dated and linked, the way the workbench starts. New shares are sold at the market at the close less your discount, with the workbench's own arithmetic: new shares = amount / (close x (1 - discount)). The whole raise sells at one price, with no fee beyond the discount and no market move while it sells.
2. Money made per diluted dollar is your input: the market value each raised dollar becomes. At 3.00, one raised dollar becomes three dollars of market value. Market cap after = market cap before + amount x money made per diluted dollar, and price per share after = market cap after / shares after. Nothing else moves the price.
3. Each raised dollar's market value splits two ways. The new shares it paid for are worth price after / sale price; the holders before the raise keep the rest, which equals their shares x (price after - close) / amount. The break-even is close / sale price: at that money made per diluted dollar the price per share does not move. With no discount it is exactly one dollar.
4. The graph draws the same raise at every amount from none to at least the market cap before it, in round steps, so a line and the step for your amount agree where the marker stands.
5. The spot bitcoin preset sends the proceeds into bitcoin at the bitcoin close, in the style of MSTR, the site's benchmark for raising to hold bitcoin rather than to mine it. Bitcoin held per share rises only when shares are sold above the value of the bitcoin each share already holds. Its premium of market value over the bitcoin bought is an assumption, not a figure of any company.
6. The replay divides a miner's monthly hashrate and its bitcoin held by its filed share count, on the same date only: a count dated on the last day of a month, joined to that month's release. A count dated on any other day joins nothing, and no figure is matched to a nearby date. The counts are the ones the company page draws, cut at the latest break in capital structure, so nothing is divided across a consolidation, a reverse merger or a date the filings disagree about. A month printed as peak or installed hashrate is left out, and a series' figures must carry one label.
7. Hashrate per share is in PH/s per million shares (1 EH/s is 1,000 PH/s) and bitcoin held per share in BTC per million shares. The indexed view divides each date's figure by the first date's and multiplies by 100; the per-share index is always the release figure's index over the share count's. The crypto-asset unit count some filers tag is not used as bitcoin held: for some it covers only part of the holdings their releases state.
8. The cross-company view of dilution against hashrate growth is drawn once at least eight miners have two aligned dates for hashrate per share. A miner the replay cannot use is listed with the reason in words.