Bitmine Immersion Technologies has announced a cash dividend of $0.1056 per share for holders of its 9.50% Series A Perpetual Preferred Stock, which trades under the ticker BMNP on the New York Stock Exchange. The dividend is set to be paid on July 10 to shareholders recorded as of June 30, with the company confirming that the distribution will be in cash as outlined in the certificate of designations for the preferred shares. This move is tied to Bitmine’s broader strategy of leveraging its Ethereum treasury, which has swelled to 5.62 million ETH as of June 14, representing approximately 4.66% of the total circulating supply. Of that amount, 4.72 million ETH has been staked through its validator operations, valued at roughly $8.1 billion based on an ETH price of $1,718.
The Series A Perpetual Preferred Stock was introduced in June as part of Bitmine’s expansion of its Ethereum treasury business, with the company selling 3.5 million shares at $80 each to generate net proceeds of about $273.8 million after expenses. Chairman Tom Lee had previously indicated that the funds would be used to acquire more Ethereum, while staking rewards from the ETH holdings would help sustain dividend payments. He estimated annualized staking rewards of around $219 million. Lee also noted that Bitmine had purchased an additional 76,881 ETH in the week leading up to June 15, maintaining an aggressive accumulation pace because the company believes Ethereum’s market price undervalues its fundamentals.
Bitmine has set a public target of eventually holding 5% of the total ETH supply, positioning Ethereum as its primary treasury reserve asset. As of June 14, the company’s combined holdings of cryptocurrencies, cash, marketable securities, and strategic investments totaled approximately $10.4 billion. This includes 204 Bitcoin, about $502 million in cash and securities, a $180 million stake in Beast Industries, and an $88 million stake in Eightco Holdings. In addition to its treasury management, Bitmine operates as a U.S.-based Bitcoin mining firm and launched MAVAN, a made-in-America validator network, in 2026 to support its digital asset staking infrastructure. The dividend announcement follows recent comments from Lee about potential inclusion in the Russell 1000 Index, which could boost institutional interest in BMNR shares.