Tom Lee’s BitMine to begin offering annual dividend as ETH treasury mNAV dips

BitMine Immersion Technologies, the largest Ethereum treasury company, announced it will become the first large-cap crypto firm to declare an annual dividend of $0.01 per BMNR share, payable on December 29th. This move aims to return shareholder value, supplementing previous actions like a share buyback plan. The announcement comes as the firm faces challenges; its stock is significantly down from its July high, and its multiple to Net Asset Value (mNAV) has dropped below 1.0x because Ethereum (ETH) is trading near multi-month lows, resulting in an unrealized loss of roughly $4.52 billion on its 3.55 million ETH holdings. Despite this, Chairman Tom Lee stated the firm is "well positioned in 2026." BitMine, backed by notable investors including Cathie Wood and Tom Lee, posted $328 million in net income for the fiscal year ending August 31st. The company also plans to debut its staking solution, MAVAN, in the first quarter.

(Source：The Block)