Bitmine announced its 9.50% Series A Perpetual Preferred Stock received NYSE listing approval, trading under ticker 'BMNP' starting June 16. It simultaneously declared an initial cash dividend of $0.316667 per share, payable June 22, plus a second weekly dividend of $0.105556 per share.

Bitmine intends to sell 3 million shares of 9.50% Series A Perpetual Preferred Stock, with proceeds earmarked for ETH purchases, staking and validator growth, blockchain investments, working capital, and share buybacks.

Bitmine approved a $0.1056 cash dividend for BMNP preferred shareholders and said its Ethereum treasury reached 5,620,754 ETH as of June 14, with 4,718,677 ETH already staked.

U.S. listed mining firm Bitmine added 52,203 ETH last week, pushing total holdings to 5.67 million (4.7% of supply), valued at $9.83 billion. Chairman Tom Lee called it "crypto spring" early stage, with 83% of ETH staked via MAVAN yielding ~$223M annually.

BitMine’s latest results show how quickly a high-yield Ethereum treasury strategy can turn into a balance-sheet problem. In the fiscal third quarter ended May 31, 2026, the company generated $46.5 million in revenue, with roughly 98% of that total, or $45.7 million, coming from Ethereum staking and node validation. Revenue was up sharply from $2.1 million a year earlier, yet net loss widened to $83.6 million from just $623,000. The main drag was derivatives. BitMine reported $92.1 million in Ethereum-related option losses during the quarter, including $78.6 million in losses on expired contracts and $14 million tied to exercised positions, partly offset by a $534,000 gain on open contracts. Over the first nine months of the fiscal year, derivative losses reached $133.3 million, far exceeding the $56.9 million generated by staking and validation over the same period. At the same time, the company continued to fund its Ethereum accumulation by issuing stock. In the nine months through May 31, BitMine sold 340.7 million BMNR shares and raised $11.87 billion net of offering costs, then spent $11.69 billion on ETH purchases. That pushed outstanding common shares up 149% to 579.7 million by the end of May, and to 603.2 million by July 9. The company held 5.42 million ETH as of May 31 at an aggregate cost of $19.05 billion, while the position’s market value was $10.86 billion at month-end.

Trading in preferred shares issued by crypto-related companies accelerated sharply in 2026, with normalized monthly volume reaching about $13 billion in June, according to the source article. The increase was driven largely by STRC and a growing list of newly listed preferred securities, reflecting a shift from what had long been a niche financing market dominated by banks and insurers into a broader, more liquid asset class. The article argues that the more important signal is not only higher turnover, but the maturation of the preferred-share market itself. As liquidity deepens, these securities are becoming more efficient in pricing coupon rates and issuer quality, while secondary-market depth, relative value, and the durability of investor demand are also improving. That trend is no longer confined to crypto. In June, Alphabet launched its first convertible preferred stock offering as part of an equity financing package of more than $80 billion to fund AI infrastructure. Super Micro Computer also said it would issue $3.75 billion in convertible preferred stock within a $7 billion capital raise for AI expansion. The article says those moves show preferred shares gaining traction as a scalable financing tool across industries.

Bitmine Immersion Technologies said in a July 13 financial update that it bought another 27,801 ETH over the past week, lifting its total holdings to 5,770,038 ETH as of July 12. The company said that amount represents 4.8% of Ethereum’s roughly 120.7 million total supply, putting it within reach of its stated goal of controlling 5% of the network’s ETH supply by the end of 2026. Bitmine also said its total assets have topped $11.3 billion, including crypto, cash, marketable securities and what it described as “Moonshots.” The disclosed reserves include $482 million in cash and marketable securities, 206 BTC, and an equity position in Eightco Holdings valued at $69 million. The company added that 4,917,189 ETH are currently staked through its MAVAN validator platform, with a stated seven-day annualized yield of about 2.70%. If all ETH holdings are staked, Bitmine estimates annual passive cash flow could reach as much as $284 million.

Odaily’s evening brief covered several items, including Iran not yet making a final decision on a memorandum of understanding, details of a U.S.-Iran draft, KINS surpassing a $12 million market cap, and Garrett Jin placing six ZEC limit buy orders at $409.12.