Bitmine Declares BMNP Preferred Dividend as Ethereum Reserves Climb

The dividend follows a massive capital infusion from the company’s June preferred stock offering, which netted $273.8 million. Chairman Tom Lee has positioned staking rewards from Bitmine’s validator operations as the primary engine for these recurring payouts. The firm projects annualized staking income from its Ethereum holdings to reach approximately $219 million.

As of June 14, Bitmine reported a treasury of 5.62 million ETH, representing roughly 4.66% of the total circulating supply. With 4.72 million of those assets staked, the company is moving closer to its stated goal of controlling 5% of all Ethereum. Beyond its primary focus on ETH, the company’s $10.4 billion portfolio includes 204 Bitcoin and strategic stakes in Beast Industries and Eightco Holdings. Lee, who maintains that current market prices undervalue Ethereum’s fundamentals, is also eyeing potential inclusion in the Russell 1000 Index to broaden institutional access to the company’s equity.