Bitmine Immersion Technologies Stock: Rises on $10.4B Treasury and New Preferred Dividend

TLDR

• BMNR jumps as Bitmine reports $10.4B in treasury holdings.

• Bitmine holds 5.62M ETH as staking income supports dividends.

  

• BMNR rises after Bitmine confirms new preferred dividend payout.

• Bitmine’s Ethereum treasury grows as MAVAN staking expands.

• BMNR gains pre-market on treasury growth and preferred stock news.

Bitmine Immersion Technologies (BMNR) stock rose in pre-market trading after the company reported $10.4 billion in treasury holdings. BMNR traded at $17.26, gaining 7.20%, after closing at $16.11, down 2.48%. The move followed fresh disclosures on Ethereum holdings, staking income, and a new preferred dividend.

Bitmine Immersion Technologies, Inc., BMNR

Bitmine Reports $10.4 Billion Treasury Position

Bitmine said its crypto, cash, marketable securities, and strategic holdings totaled $10.4 billion as of June 14. The company held 5,620,754 ETH, 204 Bitcoin, and $502 million in cash and marketable securities. It also reported a $180 million stake in Beast Industries and an $88 million stake in Eightco Holdings.

The company valued its Ethereum holdings at $1,718 per ETH, based on Coinbase pricing. Its ETH position represented 4.66% of Ethereum’s total supply of 120.7 million ETH. That position kept Bitmine as the largest Ethereum treasury company worldwide.

Bitmine also remained the second-largest global crypto treasury, behind Strategy. Strategy reportedly held 845,256 BTC, valued at about $54 billion. Therefore, Bitmine continued to build its treasury strategy around Ethereum accumulation and staking income.

Preferred Stock Offering Adds Balance Sheet Support

Bitmine closed its Series A Preferred Stock offering on June 10. The company sold 3.5 million shares at $80 per share. After expenses and underwriting costs, Bitmine received about $273.8 million in net proceeds.

The preferred shares carry a 9.50% rate and will trade under the BMNP symbol. Trading on the NYSE will begin on June 16. The company also expects to pay dividends weekly, based on the preferred stock terms.

Bitmine declared its third weekly cash dividend on the Series A Preferred Stock. The dividend totals $0.2639 per share and should be paid on July 6. Holders of record as of June 26 will receive the payment.

Ethereum Staking Drives Recurring Cash Flow

Bitmine has staked 4,718,677 ETH, worth about $8.1 billion at the reported ETH price. That amount represents more than 83% of the company’s total ETH holdings. As a result, staking has become a central part of Bitmine’s treasury plan.

The company projected annualized staking revenue of about $226 million from its current staked ETH base. It also projected up to $269 million when its ETH becomes fully staked through MAVAN and partners. MAVAN is Bitmine’s institutional staking platform for Ethereum treasury operations.

Bitmine launched MAVAN to support its own Ethereum holdings and wider institutional demand. The platform targets custodians, asset managers, and ecosystem partners seeking staking infrastructure. Meanwhile, BMNR’s five-day average dollar volume reached $550 million, ranking it among highly traded U.S. stocks.

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