How will the growth in Bitcoin holdings affect the company's valuation multiples compared to industry peers?

The surge in Bitcoin assets adds a sizable, non‑operating “cash‑equivalent” component to NX Technology’s balance sheet, inflating its equity base and net‑asset value per share. Because the market still treats crypto‑exposure as a growth catalyst rather than a stable cash flow, analysts will likely price the stock on a “total‑enterprise” basis that includes the fair‑value of the Bitcoin stash. As a result, the firm’s EV/EBITDA and EV/Revenue multiples will compress relative to pure‑play AI‑software peers—trading at a premium to the sector average—while its P/E will expand (or even turn negative if earnings are still modest) as the market anticipates upside from future Bitcoin appreciation. In short, the company will command a higher valuation multiple than its AI‑services peers, reflecting the “crypto‑asset premium.”

From a trading standpoint, the key driver is the correlation between Bitcoin’s price trajectory and NX Technology’s equity value. If Bitcoin continues its up‑trend, the premium embedded in the multiples should widen, supporting a bullish bias on the stock; a pull‑back in crypto markets would quickly erode the premium and could trigger a re‑rating back toward sector‑norm multiples. Therefore, a prudent position would be to hold NX Technology with a “price‑plus‑crypto” overlay—targeting upside while keeping a stop that is tied to Bitcoin’s 20‑day moving average or a 10 % drop in the crypto price, whichever comes first. This approach captures the valuation uplift from Bitcoin growth while limiting exposure to the asset’s inherent volatility.