Bitmine Immersion Technologies said its board approved a $0.1056 per share cash dividend for holders of its 9.50% Series A Perpetual Preferred Stock, which trades on the New York Stock Exchange under the ticker BMNP. The company said the dividend will be paid on July 10 to shareholders of record at the close of business on June 30, with the payment made in cash under the terms governing the preferred shares.
Preferred stock program is linked to the company’s ETH treasury plan
Bitmine launched the Series A Perpetual Preferred Stock in June as part of a broader push into Ethereum treasury management. On June 10, the company sold 3.5 million preferred shares at $80 each and reported about $273.8 million in net proceeds after fees and expenses. Chairman Tom Lee had said the offering proceeds would support more ETH purchases, while staking income from the company’s Ethereum holdings would help cover dividend payments tied to the preferred stock program.
Lee also said Bitmine expected annualized staking rewards of roughly $219 million. That ties the dividend policy closely to the company’s validator operations and Ethereum balance sheet, rather than treating the preferred payout as a standalone capital markets decision.
Ethereum holdings reached 5,620,754 ETH, with most of it staked
On June 15, Bitmine reported that it held 5,620,754 ETH as of June 14, equal to about 4.66% of Ethereum’s circulating supply. Of that amount, 4,718,677 ETH had been staked through the company’s validator operations. Bitmine valued that staked position at about $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 was maintaining an aggressive pace of accumulation because it believed Ethereum’s market price did not fully reflect the network’s underlying fundamentals.
Bitmine keeps a public target of owning 5% of total ETH supply
Bitmine has identified Ethereum as its primary treasury reserve asset and has stated publicly that it wants to eventually hold 5% of the total ETH supply. The company said its combined holdings of cryptocurrencies, cash, marketable securities, and strategic investments totaled about $10.4 billion as of June 14.
Beyond Ethereum, 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. Lee also said on June 17 that Bitmine could potentially be included in the Russell 1000 Index, adding that membership in the benchmark may increase institutional interest in BMNR shares because many funds allocate capital only to companies in major indexes.
Bitmine describes itself as a U.S.-based Bitcoin mining company that has expanded into Ethereum treasury management. The company also said it launched MAVAN, short for Made-in America VAlidator Network, in 2026 to provide dedicated staking infrastructure for its digital asset holdings.