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LAS VEGAS - BitMine Immersion Technologies (NYSE AMERICAN:BMNR) reported a net income of $328.16 million for fiscal year 2025, with fully diluted earnings per share of $13.39, according to a press release statement issued Friday. The company’s stock, currently trading at $26.02, has experienced a significant decline of over 24% in the past week, despite posting a remarkable 261% return over the last year.
The Bitcoin and Ethereum-focused company announced plans to launch MAVAN (Made-in America Validator Network), a dedicated staking infrastructure for its Ethereum assets, in the first quarter of 2026. This announcement comes as analyst expectations for the company remain mixed, with InvestingPro data showing analyst price targets ranging from $47 to $60.
BitMine also declared an annual dividend of $0.01 per share, with a declaration date of November 21, 2025, an ex-dividend date of December 5, record date of December 8, and payable date of December 29.
"BitMine continues to execute at the highest level. The company is well positioned in 2026 and we look forward to commencing ETH staking with our MAVAN in early calendar 2026," said Thomas Lee, Chairman of BitMine, in the statement.
The company has selected three staking providers for a pilot program to test capabilities as it develops its own staking infrastructure. The selection process evaluated providers based on security, performance, infrastructure capabilities, and service quality.
BitMine describes itself as "the largest ETH Treasury in the world" and operates Bitcoin mining facilities in Trinidad and Texas.
The company will hold its annual shareholder meeting at the Wynn Las Vegas on January 15, 2026.
In other recent news, BitMine Immersion Technologies announced its cryptocurrency and cash holdings have reached $13.2 billion. The company holds approximately 2.9% of all Ethereum tokens, with its holdings including 3,505,723 ETH valued at approximately $12.76 billion. BitMine also holds 192 Bitcoin, a $61 million stake in Eightco Holdings, and $398 million in unencumbered cash. Additionally, BitMine has engaged Tom DeMark and DeMark Analytics, LLC as a strategic advisor to optimize its Ethereum acquisition strategy. The company plans to use DeMark’s market analysis models to enhance its purchasing approach as it acquires substantial amounts weekly. In leadership changes, Chi Tsang has been appointed as the new Chief Executive Officer, replacing Jonathan Bates, and will join the Board of Directors. Meanwhile, a recent downturn in cryptocurrency markets saw BitMine’s stock fall amid broader declines in crypto-related stocks.
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