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2025 has been a year of ups and downs for the cryptocurrency industry, with the performance of digital asset treasuries (DATs) a perfect example of this trend. While Bitcoin and Ethereum treasury firms like Strategy and BitMine seem to be weathering the recent storm, other companies have succumbed to the bursting bubble of DATs.

For instance, BitMine has disclosed its plans to become “the first large-cap cryptocurrency company to declare annual dividends.” This announcement came as the Ethereum treasury firm released its fiscal year results on Friday, November 21.

BitMine To Pay $0.01 Dividend Per BMNR Share

In a press release on Friday, the largest Ethereum treasury company, BitMine, reported a net income of $328 million—equal to $13.39 in fully diluted earnings per share (BMNR). The firm also shared its plan to become the first large-cap crypto company to pay dividends to its shareholders. 

The Ethereum treasury company intends to pay an annual dividend of $0.01 per BMNR share, as it looks to return some value to shareholders amid the weakening crypto market.  According to the press release, the payable date for the dividend is set at December 29, 2025, with BitMine’s next shareholder meeting to be held in January 2026.

BitMine’s Chairman, Tom Lee, said in the release:

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, or Made in America Validator Network, in early calendar 2026.

The crypto treasury company explained its plans to launch the Made in America Validator Network (MAVAN) to stake its Ether holdings. After vetting several native staking providers, BitMine revealed that it has selected three initial pilot partners to test out their staking capabilities using a small portion of its ETH.

The BMNR stock is currently valued at around $26, reflecting an over 25% decline in the past week. Meanwhile, the share price is significantly away from its 2025 high of $135, reached shortly after Bitmine announced its Ethereum acquisition strategy.

The industry-wide struggles of these digital asset treasuries can be attributed to the pullback of the crypto market in the second half of the year, especially in the fourth quarter. While the price of Ethereum continues to show weakness, recently falling to around $2,650, BitMine’s chairman believes that a market recovery is inevitable.

BitMine Continues ETH Buying Spree

BitMine’s faith in the eventual recovery of the Ethereum price can be seen in its relentless acquisition strategy. As Bitcoinist reported, the firm purchased about 21,054 ETH (worth about $66.57 million) on Wednesday, November 19.

As of a Thursday report, the unrealized losses of BitMine’s Ethereum holdings were nearing $4 billion. Notably, the DAT company holds roughly 3.55 million ETH tokens—worth about $10 billion—acquired at an average cost of around $3,120.

The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView

Featured image from iStock, chart from TradingView

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• Silvergate Capital Corp suspends dividend on its preferred stock.
• Wedbush Securities analyst reiterates his neutral rating on “SI”.
• Silvergate stock is currently down over 85% since mid-August.

Silvergate Capital Corp ended 5.0% down on Friday after the crypto bank suspended dividend on its preferred stock.

Silvergate is trying to preserve capital

The embattled digital currency services company is cutting back on the payout to preserve capital. Its press release reads:

This decision reflects the Company’s focus on maintaining a highly liquid balance sheet with a strong capital position. Company continues to maintain a cash position in excess of its digital asset customer related deposits.

The California-based company also confirmed that its Board will re-evaluate the quarterly payment once market conditions improve.

Silvergate stock has lost over 85% since mid-August, related partially to the FTX collapse. Consequently, billionaire investor Cathie Wood almost entirely pulled out of it at the start of the new year.

Is Silvergate stock a buy?

According to a Wedbush Securities analyst, suspending Series A preferred stock dividend will make things more difficult for this financial infrastructure solutions firm in the long run.

Reiterating his “neutral” rating on the Silvergate stock on Friday, David Chiaverini said:

We believe this move could raise Silvergate’s cost of capital down the road when Silvergate attempts to tap the capital markets for a future capital raise. Any new fixed income or preferred issuance will require a higher coupon.

His $13 price objective on the stock suggests it lacks any upside whatsoever. Earlier in January, Silvergate Capital Corp said average deposits from digital asset customers tanked 39% to $7.3 billion in its fourth quarter as Coin Journal reported here.