Bitmine Immersion Technologies is doubling down on Ethereum — and paying investors along the way.
The NYSE-listed miner’s board has approved a cash dividend of $0.1056 per share on its 9.50% Series A Perpetual Preferred Stock (ticker: BMNP). The dividend will be paid on July 10 to holders of record at the close of business on June 30, and will be paid in cash under the preferred stock’s terms.
The payout follows Bitmine’s recent Series A offering, which raised the capital to expand its Ethereum treasury push. On June 10 the company sold 3.5 million preferred shares at $80 each, generating roughly $273.8 million in net proceeds after fees. Chairman Tom Lee has said those proceeds will support additional ETH purchases, while staking income from the company’s Ethereum holdings will help fund dividend payments. Bitmine expects staking to produce roughly $219 million in annualized rewards.
A big Ethereum position
Bitmine’s ETH treasury has now topped 5.6 million ETH. In a June update the company reported holding 5,620,754 ETH as of June 14 — about 4.66% of Ethereum’s circulating supply. Of that total, 4,718,677 ETH had been staked via the company’s validator operations, a position Bitmine valued at approximately $8.1 billion using an ETH price near $1,718.
Other elements of Bitmine’s balance sheet (as of mid-June) include:
- Total combined holdings — cryptocurrencies, cash, marketable securities and strategic investments — of roughly $10.4 billion
- 204 BTC
- About $502 million in cash and marketable securities
- Stakes in private/strategic “moonshots,” including a reported stake in Beast Industries (Beast/ MrBeast) and in Eightco Holdings (values reported in company updates)
Lee noted Bitmine acquired 76,881 ETH in the prior week and described the company’s buying pace as “aggressive,” arguing that market prices have not fully reflected Ethereum’s fundamentals. Bitmine has publicly stated a longer-term goal of holding roughly 5% of the total ETH supply and has made ETH its primary treasury reserve asset.
Business expansion and index talk
Beyond accumulation, Bitmine is building out staking infrastructure: in 2026 it launched MAVAN (Made-in-America VAlidator Network) to provide dedicated staking services for its digital-asset holdings.
On June 17, Lee also commented on the company’s potential inclusion in the Russell 1000 Index — a move that, if it happens, could broaden institutional interest in Bitmine’s shares because many funds allocate only to index constituents.
Why it matters
Bitmine’s strategy highlights a broader trend among crypto miners and infrastructure firms shifting part of their treasuries into liquid, yield-generating assets like ETH. By pairing capital raises with staking operations and strategic investments, Bitmine is positioning itself as both an accumulator of Ethereum and a dividend payer backed by staking revenues — a narrative likely to draw attention as ETH holdings and institutional visibility grow.
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