Core Insights - BitMine Immersion Technologies, the largest corporate holder of Ethereum, reported a full-year income of $328 million and declared its first dividend, but its share price fell due to concerns over digital asset treasury strategies and a recent drop in ETH prices [1][2] Financial Performance - The company owns $9.6 billion worth of Ethereum and plans to pay a dividend of one cent per share next month, reflecting its commitment to shareholder value [2] - BitMine's share price recently decreased by 5.3% to around $24.65, and it has experienced a 52% decline over the past month amid falling crypto prices [2] Market Context - BitMine's stock price has underperformed compared to Ethereum, which has fallen 28% over the past month to a four-month low of $2,700 [4] - The company purchased its Ethereum holdings at an average cost of around $3,120, when the asset was valued at approximately $3,600 in July [5] Future Outlook - BitMine is building a "Made in America" validator network, set to go live in the first quarter of next year, and has selected three pilot partners for testing staking capabilities [4] - BitMine's Chairman, Tom Lee, anticipates a V-shaped recovery for crypto prices, linking the current downturn to a significant liquidation event in the market [3][6]