BitMine Immersion Technologies (NYSE: BMNR) has received approval to list its Class A perpetual preferred shares on the New York Stock Exchange under the ticker “BMNP,” with trading expected to commence on Tuesday, June 16.
The preferred shares carry an annualized dividend yield of 9.50%, positioning them as an income-generating instrument tied to the world’s leading Ethereum treasury company.
On Sunday, BitMine’s Board of Directors declared an initial cash dividend of $0.316667 per share, covering the period since the shares were first issued on June 10, payable on June 22 to shareholders of record as of June 12.
A subsequent weekly dividend of $0.105556 per share will follow, payable on June 26 to shareholders of record as of June 16.
Equiniti Trust Company will serve as transfer agent, registrar, and paying agent for the newly listed preferred shares.
BMNR’s common stock closed down 2% on Friday, with retail sentiment on Stocktwits remaining in the “bearish” zone and chatter holding at “low” levels over the preceding 24 hours.
The preferred share listing arrives at a turbulent moment for Ethereum, which is heading toward one of the weakest first halves in its history.
According to CoinGlass data, ETH posted a -29.26% return in the first quarter of 2026 and a -20.43% return in the second quarter, marking only the second time on record that Ethereum has logged red first and second quarters in the same calendar year.
The only comparable period was 2022, when ETH fell over 67% in the second quarter alone, a collapse that defined that year’s broader crypto bear market.
The current weakness follows a 28% decline in the fourth quarter of 2025, raising the prospect of three consecutive quarters of losses exceeding 20%, a stretch not seen since that 2022 bear market.
At the time of reporting, Ethereum’s price was trading at $1,664, down 0.8% over the prior 24 hours, with retail sentiment on Stocktwits shifting to “bearish” from “neutral” and chatter falling to “low” from “normal.”
BitMine is guided by Chairman Tom Lee’s “5% alchemy” philosophy, which centers on using ETH as the company’s primary cash reserve asset rather than traditional currency holdings.
The company has also launched the Made-in-America Validator Network, known as MAVAN, a staking infrastructure dedicated specifically to its Ethereum holdings.
