BitMine Immersion Technologies says it will start paying an annual dividend, a move the company describes as a first for a large-cap crypto firm. The announcement arrived with BitMine’s latest earnings report, which reflects the strain digital asset treasuries have felt during the crypto market pullback in the second half of the year.
The company plans to distribute a yearly dividend of 0.01 dollars per BMNR share, payable on December 29. BMNR traded around 26.49 dollars on Friday. That is a slight gain on the day but far below its early July peak of 135 dollars, reached shortly after BitMine revealed a new strategy centered on acquiring ETH.
This dividend adds another tool to BitMine’s effort to deliver shareholder value through traditional equity measures. In July, the firm became one of the earliest digital asset treasuries to authorize a share buyback program, complementing its ongoing accumulation of ETH.
BitMine is backed by an influential group of investors including Cathie Wood’s ARK, DCG, Founders Fund, Galaxy Digital, Pantera, and several high-profile individuals such as Bill Miller III and Tom Lee. It is the second-largest crypto treasury company globally and the largest public firm dedicated to ETH.
For its fiscal year ending August 31, BitMine reported 328 million dollars in net income, or 13.39 dollars in fully diluted earnings per share. The firm holds nearly 10 billion dollars worth of ETH, a total of 3.55 million tokens purchased at an average price of about 3,120 dollars.
ETH traded around 2,730 dollars on Friday, placing BitMine’s multiple to Net Asset Value below 1.0. With the token near multi-month lows, the company is carrying an unrealized loss of roughly 4.52 billion dollars. A representative from competing ETH treasury firm Ether Machine described the outlook for firms that raised capital through at-the-money issuances as challenging, noting that recent market conditions have increased risk for retail shareholders.
According to Ether Machine’s estimates, a BitMine shareholder who bought in August is down about 73 percent, compared with an ETH holder who would be down closer to 30 percent over the same period. ETH traded above 4,000 dollars during much of that month.
BitMine is not alone. The broader digital asset treasury sector has also fallen sharply. The combined market value of crypto treasury companies has slipped from 176 billion dollars in July to about 99 billion dollars today. Despite volatility, BitMine Chairman Tom Lee said the firm is positioned well as it looks toward 2026. BMNR has dropped almost 50 percent over the past month but remains up about 258 percent year-to-date.
The company expects its staking network, the Made in America Validator Network (MAVAN), to launch in the first quarter. The system is intended to strengthen BitMine’s mining and validation capabilities. The firm also continues to run Bitcoin mining operations in Trinidad and Texas.
