Tom Lee’s Ethereum treasury company BitMine Immersion Technologies has declared an annual dividend as it strives to broaden its investor appeal after a dizzying stock slump.
The company said in its first income report that it will pay a dividend of $0.01 per BMNR share on December 29, describing itself as “the first major crypto company” to offer an annual payout.
BitMine also announced plans to launch a staking infrastructure product, MAVAN (made-in America Validator Network), in early 2026, while reports net income of $328 million for the fiscal year ended August 31, which equates to approximately $13.39 in fully diluted earnings per share.
The moves come as BitMine grapples with how to create a 46% drop in share price in the last month.
BitMine stock price (Source: Google Finance)
DropsTab estimates The plunge leaves BitMine with an unrealized loss of $4.39 billion on its ETH holdings after the largest altcoin plunged 28% over the past month.
Lee said ETH’s nosedive was the result of the decline in market liquidity and function since October 10, the largest liquidation event in crypto history.
🚨 MATT HOUGAN + TOM LEE JUST CALLED IT
Bitwise CIO Matt Hougan and Tom Lee @fundstrat both have just reached the bottom for this week. 🤯
Two of the most accurate analysts of the last cycle… are aligned on the same signal.
If they’re right, this is the moment everyone will be watching… pic.twitter.com/D3IfK9kR0W
— BMNR Bullz (@BMNRBullz) November 18, 2025
BitMine is the largest corporate holder of Ethereum (ETH), with 3.55 million tokens on its balance sheet worth approximately $9.7 billion, data from StrategicETHReserve shows.
It boasts heavyweight shareholders including ARK Invest, Founders Fund, Pantera, Kraken, DCG and Galaxy Digital.
10x research says BitMine faces deep structural problems
10x Research founder Markus Thielen said this week that BitMine and other Digital Asset Treasury (DAT) companies face deep structural problems as their plummeting stock prices wipe out the net asset value (NAV) premiums that once fueled investor enthusiasm.
DAT companies rely on complex and layered entities such as asset managers, strategic advisors and promotional figureheads with high salaries, while building in fees that “quietly erode returns,” he said. that BitMine’s leadership compensation and outside consultants could rake in $157 million per year over ten years through compensation and consulting contracts.
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