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Where does the yield come from?

Month-by-month view of how a bitcoin treasury company may fund its dividend. Each box is one monthly dividend payment. Twelve boxes stacked is one year. Boxes deplete left-to-right as time passes.

Created by Joe Burnett Adapted for True North

Balance sheet

Assumptions

Slider snaps to 5%. Use the box for exact values like 8% or 13.5%.
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54.4years of dividend coverage
BTC CAGR 10% Dividends funded via common stock issuance
Current month
BTC price
$100,000
Cash reserve
Digital credit reserve
Bitcoin
653 boxes remaining · 1 box = $15.7M
Cash remaining
$250.0M
15 months of coverage
Digital credit reserve
$0
0 months of coverage
Bitcoin remaining
$10.00B
638 months of coverage
Monthly dividend
$15,666,667
Annual dividend
$188,000,000
Elapsed
0 mo

Important: Debt may come due before the end of this coverage period and could require refinancing, equity issuance, bitcoin sales, or result in default.

Balance sheet exhausted — available assets can no longer cover the monthly dividend.
Monthly funding log
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Disclaimer. This interactive tool is designed to help visualize how digital credit yield may be generated under a range of assumptions. It is a simplified model and does not reflect all real-world factors. Actual results may differ materially. Issuers may change, reduce, or suspend dividends at any time. This is for informational purposes only and does not constitute financial advice.

True North is for informational and educational purposes only. Nothing presented should be considered investment advice or an offer of any security or investment product. Consult your own investment and tax advisors. Full disclaimer.

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