Date: July 14, 2026Author: Manus AISubject: Goldminer Portfolio Performance, Debt Analysis, and Net Worth Snapshot
1. Executive Summary
Report #5 marks a critical milestone in the Goldminer portfolio analysis. For the first time, we are incorporating the liability side of the balance sheet — specifically, the seven XUSDC loans taken out in April 2026 to finance the aggressive expansion of the EASY position.
The portfolio has successfully transitioned from a pure accumulation phase into a leveraged yield strategy. By borrowing XUSDC at a fixed 4.5% APR to acquire high-yield assets (EASY), Goldminer has engineered a positive carry trade.
As of July 14, 2026, the portfolio holds $364.43 in gross assets against $95.12 in outstanding debt, resulting in a healthy net worth of $269.31.
2. Market Snapshot
Market conditions have seen a slight consolidation in the prices of both core assets compared to the highs of May, though the structural yield remains intact.
Asset | Current Price (USD) | Change vs Report #4 |
|---|---|---|
EASY | $0.015178 | -8.4% |
GRAMS | $152.55 | -5.7% |
Data sourced live from Alcor Exchange on July 14, 2026.
3. The Liability Ledger: Debt Analysis
In April 2026, Goldminer executed a series of seven loans totaling 94.11 XUSDC to double the EASY capital from 11,000 to 22,000. Three of these loans were secured by Goldminer NFTs (Bull, DAO, and Contemplation).
All loans were secured at a highly favorable 4.5% APR.
Current Outstanding Debt
Loan Date | Collateral / Type | Lender | Principal (XUSDC) | Days Active | Accrued Interest | Total Due |
|---|---|---|---|---|---|---|
Apr 1, 2026 | Genesis | monoxpr | $2.22 | 104 | $0.0285 | $2.25 |
Apr 5, 2026 | The Miner | monoxpr | $3.63 | 100 | $0.0448 | $3.67 |
Apr 12, 2026 | Self-Reflection | chrisaiki | $4.00 | 93 | $0.0459 | $4.05 |
Apr 15, 2026 | The Vault | monoxpr | $6.00 | 90 | $0.0666 | $6.07 |
Apr 18, 2026 | Bull NFT | civ25 | $50.00 | 87 | $0.5363 | $50.54 |
Apr 21, 2026 | DAO NFT | monoxpr | $7.26 | 84 | $0.0752 | $7.34 |
Apr 24, 2026 | Contemplation NFT | modeone | $21.00 | 81 | $0.2097 | $21.21 |
TOTAL | $94.11 | $1.01 | $95.12 |
The total interest accrued over the ~3 month period is exceptionally low (just $1.01 XUSDC), validating the decision to use the 4.5% APR facility. The yield generated by the 11,000 EASY purchased with these funds (via GRAMS reflections) far exceeds the cost of capital.
4. Net Worth & Asset Breakdown
With the liabilities now fully mapped, we can establish the true Net Worth of the Goldminer operation.
Assets (Gross)
22,000 EASY @ $0.015178 = $333.92
0.200 GRAMS @ $152.55 = $30.51
Total Gross Assets: $364.43
Liabilities
Total Loan Principal = $94.11
Total Accrued Interest = $1.01
Total Liabilities: $95.12
Net Worth
- Gross Assets - Liabilities = $269.31
Leverage Ratio
The portfolio is operating at a leverage ratio (Assets / Equity) of 1.35x. This is a conservative and sustainable level of leverage, especially given that the debt is fixed-rate (4.5%) and the assets are yield-bearing.
5. Return on Investment — From Wallet Activation
With the entry price now confirmed at approximately $0.0131 per EASY on February 21, 2026, it is possible to compute the true ROI of the Goldminer operation over its 143 days of activity (20.4 weeks).
Initial Capital
Goldminer entered the market with 11,000 EASY at ~$0.0131, representing an initial investment of $144.10.
ROI Summary Table
Metric | Value | Notes |
|---|---|---|
Initial Investment | $144.10 | 11,000 EASY @ $0.0131 |
Gross Assets (today) | $364.43 | 22,000 EASY + 0.200 GRAMS |
Total Debt | $95.12 | 7 EASY Loans @ 4.5% APR |
Net Worth | $269.31 | Gross − Debt |
Gross ROI | +152.9% | Ignoring debt obligations |
Net ROI | +86.9% | True return after debt |
EASY Price Appreciation | +15.9% | $0.0131 → $0.015178 |
GRAMS Yield Value | $30.51 | 0.200 GRAMS — pure passive income |
Annualized Gross ROI | +967.8% | Extrapolated at current rate |
Annualized Net ROI | +393.4% | Extrapolated at current rate |
The Leverage Effect
The decision to borrow $94.11 XUSDC in April to double the EASY position from 11,000 to 22,000 has proven highly accretive. The extra 11,000 EASY purchased with the loans is now worth $166.96, against a total debt cost of $95.12 — a net leverage gain of +$71.84 in under 90 days.
Put differently: Goldminer borrowed at 4.5% APR and deployed that capital into an asset that appreciated +15.9% in price while simultaneously generating GRAMS reflections. The positive carry is substantial.
6. Strategic Outlook
The "Leverage Play" executed in April was a success. By taking on $94.11 in debt, Goldminer doubled the rate of GRAMS accumulation.
The current priority should be debt service sequencing. The three NFT-backed loans (Bull, DAO, Contemplation) represent $79.09 of the total $95.12 debt. To ensure these narrative assets are not at risk, the yield generated from the GRAMS reflections should be earmarked for a phased repayment strategy, beginning with the oldest or highest-principal loans.
Goldminer remains in a strong solvency position, with gross assets covering the outstanding debt nearly 4 times over.
End of Report #5
Watch Goldminer mining gold:
https://explorer.xprnetwork.org/account/goldminer