Bimini Capital Management, Inc.

What Bimini Capital Management, Inc. does

Bimini Capital Management, Inc. (OTCQB: BMNM) is a publicly-traded asset management holding company headquartered in Vero Beach, Florida, that invests primarily in residential mortgage-related securities issued by U.S. government-sponsored enterprises (Fannie Mae, Freddie Mac, Ginnie Mae). The firm is structured around two core operating subsidiaries: Bimini Advisors Holdings, LLC, which serves as the exclusive external manager of Orchid Island Capital, Inc. (NYSE: ORC), a publicly-traded mortgage REIT; and Royal Palm Capital, LLC, a wholly-owned proprietary vehicle managed with an investment strategy parallel to Orchid. Bimini generates revenue principally through management fees and expense reimbursements paid by Orchid under a management agreement that obligates Bimini Advisors to provide the management team, officers, and support personnel responsible for Orchid's investment portfolio and day-to-day operations, all subject to Orchid board oversight.

The company's go-to-market is sales-led, targeting institutional and externally-managed REIT opportunities in the mortgage sector for additional management mandates. There is no proprietary technology platform in the software sense; the "product" is the firm's specialized portfolio management capability in agency MBS, leveraging spread economics between asset yields and repo-style borrowings. Distribution is entirely direct, executed through bilateral management agreements with managed entities. Investor communications are conducted via a dedicated IR website, email alerts, RSS feeds, and quarterly earnings conference calls.

In April 2026, Bimini closed the acquisition of Tom Johnson Investment Management, an explicit platform-expanding move intended to diversify the firm's asset management capabilities beyond the single Orchid mandate. The company files as a public entity on the OTCQB, has a micro-cap market profile (BMNM quoted at $2.25 per share on its IR site), and discloses financials through SEC filings, an annual report, and a proxy statement. Overall revenue, headcount, and detailed segment economics are not disclosed in the source material, and the firm's growth profile remains tied to mortgage REIT sector conditions, fee renegotiation cycles, and the integration trajectory of recently acquired Tom Johnson.

Name

Bimini Capital Management, Inc.

Legal name

Bimini Capital Management, Inc.

Website

https://biminicapital.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

1–10 employees

Short description

Bimini Capital Management (OTCQB: BMNM) is a Vero Beach, Florida-based publicly-traded asset manager that invests in agency residential mortgage-backed securities and, through its Bimini Advisors Holdings subsidiary, serves as external manager of Orchid Island Capital (NYSE: ORC) for management fees. It also manages internal vehicle Royal Palm Capital and in April 2026 acquired Tom Johnson Investment Management.

Ownership category

akta.pro rank

Product category

Asset Management Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)

Keywords

• Mortgage REIT management
• Asset management services
• Residential mortgage securities
• External management services
• Investment management

Headquarters

HQ city

Vero Beach

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations

Revenue model

1. Management Fees and Expense Reimbursements: Bimini Advisors, a wholly-owned subsidiary, serves as the external manager of Orchid Island Capital (NYSE: ORC), a publicly-traded REIT. Under the management agreement, Bimini Advisors receives management fees and expense reimbursements for managing Orchid's investment portfolio and day-to-day operations, including providing management personnel and support staff.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Bimini Capital Management is an asset manager that invests primarily in residential mortgage-related securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae. Through its wholly-owned subsidiary Bimini Advisors Holdings, LLC, the company serves as the external manager of Orchid Island Capital, Inc. (NYSE: ORC), a publicly-traded REIT, providing management personnel, support staff, portfolio management, and day-to-day operations in exchange for management fees and expense reimbursements. It also manages the portfolio of wholly-owned subsidiary Royal Palm Capital, LLC using a similar investment strategy.

Product overview

Bimini Capital Management, Inc. is an asset management firm organized as a holding company with a multi-entity structure. The core business operates through its wholly-owned subsidiaries: Bimini Advisors Holdings provides external management services to Orchid Island Capital (a publicly-traded REIT), while Royal Palm Capital manages proprietary investments. The company itself invests in residential mortgage-related securities issued by government-sponsored enterprises (Fannie Mae, Freddie Mac, Ginnie Mae). The portfolio is designed to earn returns on the yield spread between assets and borrowed funds.

Differentiator

Problem solved

Functional benefit

Products and services

• Asset Management Services
• Bimini Advisors Holdings, LLC - External REIT Management
• Royal Palm Capital, LLC Portfolio Management

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Tom Johnson Investment ManagementcoreStrategic or Co-development Partner · 1 April 2026Bimini Capital Management announced the closing of acquisition of Tom Johnson Investment Management on April 1, 2026. This acquisition expands Bimini's asset management capabilities and platform.
• Orchid Island Capital, Inc.coreStrategic or Co-development PartnerThrough wholly-owned subsidiary Bimini Advisors Holdings, LLC, Bimini Capital Management serves as the external manager of Orchid Island Capital (NYSE: ORC), a publicly-traded REIT. Bimini Advisors provides full management services including the management team (officers), support personnel, and day-to-day operational management. Services are subject to supervision and oversight by Orchid's board of directors.
• Royal Palm Capital, LLCcoreStrategic or Co-development PartnerRoyal Palm Capital is a wholly-owned subsidiary of Bimini Capital Management. It is managed with an investment strategy similar to Orchid Island Capital, investing in residential mortgage-related securities to earn returns on the spread between asset yields and borrowing costs.

Scale indicators1 record

Recent moves4 records

Expansion highlights3 records

Direct peers

• Two Harbors Investment Corp: Agency MBS-focused mortgage REIT externally managed by PRCM Advisers. Closely comparable in structure to the Bimini/Orchid relationship — same asset class, same external-manager model, same spread-driven economics.
• AGNC Investment Corp: Public mortgage REIT that invests primarily in agency residential MBS, generating returns through the same asset-yield-versus-funding-cost spread mechanism that underpins Bimini's Royal Palm and Orchid strategies.
• MFA Financial: Mortgage REIT focused on residential MBS and whole-loan investments. Directly comparable in spread-based agency MBS strategy and externally managed structure.
• Western Asset Mortgage Capital: Mortgage REIT externally managed by Western Asset Management, with a focus on agency MBS and related spread-based strategies. Closely aligned with Bimini's strategy and external-manager business model.
• Annaly Capital Management: Largest publicly traded mortgage REIT, primarily invested in agency MBS. Operates with internal management rather than external, but pursues an effectively identical spread-based strategy across the same asset class.
• ARMOUR Residential REIT: Public agency MBS REIT externally managed by ARMOUR Capital Management. Comparable to Bimini in terms of business model (external manager earning fees on an agency MBS portfolio) and underlying strategy.
• Chimera Investment Corp: Diversified mortgage REIT investing across agency and non-agency MBS. Comparable to Bimini in underlying asset class focus and in operating through an external manager (Fixed Income Discount Advisory Company).
• Invesco Mortgage Capital: Mortgage REIT externally managed by an Invesco affiliate, investing primarily in agency MBS. Mirrors the Bimini/Orchid external-manager and agency MBS model at larger scale.
• Orchid Island Capital: NYSE-listed mortgage REIT (NYSE: ORC) managed by Bimini Advisors. Operates the same residential agency MBS strategy and is Bimini's primary managed entity, making it both a customer and the closest strategic comparable in terms of investment approach.
• Dynex Capital: Mortgage REIT investing in agency and hybrid agency MBS, operating the same spread-based strategy as Bimini's managed entities with similar interest rate and prepayment sensitivities.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/bimini-capital-management-inc-bmnm-

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bimini Capital Management, Inc.