Bitmine Immersion Technologies announced that its board of directors approved a cash dividend of $0.1056 per share for holders of its 9.50% Series A Perpetual Preferred Stock, traded on the New York Stock Exchange under the ticker BMNP.
Summary
- Bitmine has declared a $0.1056 cash dividend on its BMNP preferred shares, payable on July 10 to shareholders of record on June 30.
- The company held 5.62 million ETH as of June 14 and said it has staked 4.72 million ETH through its validator operations.
- Chairman Tom Lee previously said Ethereum staking rewards could help support dividend payments tied to Bitmine’s preferred stock program.
The company said the dividend will be paid on July 10 to shareholders of record as of the close of business on June 30. Bitmine stated that the payment will be made in cash under the terms of the certificate of designations governing the preferred shares.
Preferred stock remains tied to Ethereum treasury strategy
Bitmine launched the Series A Perpetual Preferred Stock in June as part of its effort to expand its Ethereum treasury business. The company sold 3.5 million preferred shares at $80 each on June 10 and generated approximately $273.8 million in net proceeds after fees and expenses.
Chairman Tom Lee previously said proceeds from the offering would support additional Ethereum purchases, while staking income generated from the company’s ETH holdings would help fund dividend payments. Lee also said Bitmine expected annualized staking rewards of roughly $219 million.
The company reported on June 15 that it held 5,620,754 ETH as of June 14, equal to about 4.66% of Ethereum’s circulating supply. Bitmine said 4,718,677 ETH had been staked through its validator operations, a position it valued at approximately $8.1 billion based on an ETH price of $1,718.
Lee said at the time that Bitmine had acquired 76,881 ETH during the previous week. He added that the company maintained an aggressive accumulation pace because it believed Ethereum’s market price did not fully account for the network’s underlying fundamentals.
Company pursues 5% ETH ownership target
Bitmine has identified Ethereum as its primary treasury reserve asset and has publicly stated a goal of eventually holding 5% of the total ETH supply. The company said its combined holdings of cryptocurrencies, cash, marketable securities, and strategic investments totaled approximately $10.4 billion as of June 14.
In addition to its Ethereum position, Bitmine reported holdings of 204 Bitcoin, about $502 million in cash and marketable securities, a $180 million stake in Beast Industries, and an $88 million stake in Eightco Holdings.
The latest dividend announcement follows comments from Lee on June 17 regarding Bitmine’s potential inclusion in the Russell 1000 Index. Lee said membership in the benchmark could increase institutional interest in BMNR shares because many investment funds allocate capital only to companies included in major indexes.
Bitmine describes itself as a U.S.-based Bitcoin mining company that has expanded into Ethereum treasury management. The company also launched MAVAN, short for Made-in America VAlidator Network, in 2026 to provide dedicated staking infrastructure for its digital asset holdings.