The equity mNAVs for several Digital Asset Treasuries (DATs) are currently trading at significant discounts, specifically Strategy at 0.59x, Bitmine at 0.83x, Sharplink at 0.64x, and Forward Industries at 0.62x. The sentiment suggests that if these valuations remain low or decrease further, there will be increasing pressure for these entities to unwind. This data indicates a bearish outlook on current equity valuations relative to net asset values for these specific assets.