SEC 8-K filings with transcript text
Nov 21, 2025
2 ex99-1.htm
Exhibit 99.1
BitMine Immersion (BMNR) Reports FY25 GAAP EPS of $13.39; ‘Made-in-America Validator Network’ Ethereum Staking to Commence in Early 2026;
Declares Annual Dividend of $0.01, the first large-cap crypto company to pay a dividend
Full year fiscal 2025 net income of $328,161,370
Full year fiscal 2025 fully diluted EPS of $13.39 per share
to launch MAVAN (Made-in America Validator Network), a dedicated staking infrastructure for BitMine assets, in Q1 of 2026
BitMine declares annual dividend of $0.01 per BMNR share
BitMine is the first large-cap crypto company to declare an annual dividend, reflects the company’s commitment to create shareholder value
BitMine will hold its annual shareholder meeting at the Wynn Las Vegas on January 15, 2026
BitMine remains supported by a premier group of institutional investors including ARK’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Thomas “Tom” Lee to support BitMine’s goal of acquiring 5% of ETH
LAS VEGAS, November 21, 2025 /PRNewswire/ — (NYSE AMERICAN: BMNR) BitMine Immersion Technologies (“BitMine” or the “Company”) a Bitcoin and Ethereum Network Company with a focus on the accumulation of crypto for long term investment, today announced financial results for the fourth quarter and fiscal full year ended August 31, 2025.
“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,” said Thomas “Tom” Lee, Chairman of BitMine.
On the continued weakness in ETH prices, states Mr. Lee, “Crypto prices continue to suffer as the drop in market liquidity and function since October 10, which was the largest ever single day liquidation event in the history of crypto. In 2022, the post-FTX liquidity shock took 8 weeks to clear, but similar to prior drawdowns, crypto prices quickly recovered. History shows crypto prices stage V-shaped recoveries after a lingering and drawn out decline, and we expect this to again be the case in this current drawdown.”
Full Year Fiscal 2025 Highlights and Current Operational Updates:
●Full year fiscal 2025 net income of $328,161,370.
●Full year fiscal 2025 fully diluted EPS of $13.39 per share.
●BitMine declares annual dividend of $0.01 per BMNR share.
●BitMine is the first large-cap crypto company to declare an annual dividend. This reflects the company’s commitment to create shareholder value.
●Declaration date is November 21, 2025; Ex-dividend date is December 5, 2025; Record date December 8, 2025; Payable date is December 29, 2025
●BitMine selected three top staking providers for a focused pilot to test capabilities as we advance and scale our own dedicated staking infrastructure, Made-in-America Validator Network (MAVAN). Staking is expected to go live during the calendar first quarter of 2026.
●BitMine is the largest ETH Treasury in the world.
●BitMine will hold its annual shareholder meeting at the Wynn Las Vegas on January 15, 2026.
Staking Update: MAVAN, the Made in America Validator Network
BitMine assessed several native staking providers who serve institutional clients across a range of criteria including:
●Safe and secure operations
●Performance and reward/yield generation
●Ability to run dedicated infrastructure
●Overall service quality and support
●Plan to go live calendar first quarter 2026
The Company selected 3 initial pilot partners to conduct a live test of their staking capabilities using a small portion of our ETH. The test is designed to monitor performance and further evaluate pilot member operations and service quality.
“We plan to partner with one or more of these pilot partners plus world-class infrastructure providers to scale our own “Made in America Validator Network” (MAVAN) over the coming quarter,” continued Lee. “Although many ‘off the shelf’ offerings exist, we believe in building the premier destination for our natively staked Ether and are proud to build with the best partners. At scale, we believe our strategy will best serve the long-term best interests of our shareholders.”
Annual Dividend Declaration
BitMine is the first large-cap crypto company to declare an annual dividend. This reflects the company’s commitment to create shareholder value.
●BitMine declares annual dividend of $0.01 per BMNR share
●Declaration date is November 21, 2025
●Ex-dividend date is December 5, 2025
●Record date is December 8, 2025
●Payable date is December 29, 2025
The Fiscal Full Year 2025 Earnings presentation can be found here: https://bitminetech.io/investor-relations/
The Chairman’s message can be found here: https://www.bitminetech.io/chairmans-message
The company recently released a corporate presentation, which can be found here: https://bitminetech.io/investor-relations/
To stay informed, please sign up at: https://bitmi
Jan 13, 2025
2 bitmine_ex9901.htm
Exhibit 99.1
BitMine Reports Fiscal 1st Quarter 2025 Financial Results
Significantly Increases Deployment of Miners to Benefit
from Rapidly Appreciating Bitcoin Prices
January 13, 2025, Las Vegas, Nevada Bitmine Immersion Technologies, Inc. (“Bitmine” or the “Company” (OTCQX: BMNR), a technology company focused on Bitcoin mining today announced its operating results and operational update for its first fiscal quarter ended November 30, 2024 :
Bitmine Immersion Technologies, Inc.
Condensed Statements of Operations
(Unaudited)
Non-GAAP
Three months Three months Three months Three months
ended ended ended ended
November 30, November 30, November 30, November 30,
2024 2023 2024 2023
Revenue from the sale of mining equipment $717,147 $169,721 $717,147 $169,721
Revenue from hosting – 11,864 – 11,864
Revenue from self-mining
483,683 329,723 483,683 329,723
Total revenue 1,200,830 511,308 1,200,830 511,308
Total operating expenses 1,004,224 715,962 1,004,224 715,962
Loss from operations (884,018) (611,880) (884,018) (611,880)
Other income (expense)
Other income (expense), net (90,720) (317,990) (90,720) (317,990)
Net loss (974,738) (929,870) (974,738) (929,870)
Deemed dividend on Series A Preferred Stock (2,960,648) – – –
Net loss attributable to common stockholders $(3,935,386) $(929,870) $(974,738)(a) $(929,870)
Basic and diluted (loss) per common share $(0.08) $(0.02) $(0.02)(b) $(0.02)
Weighted-average number of common shares outstanding:
Basic and diluted
47,422,058 49,748,705 47,422,058 49,748,705
(a) represents non-GAAP adjusted net loss attributable to common shareholders
(b) represent non-GAAP adjusted basic and diluted net loss per share
1
First Fiscal Quarter 2025 Financial Highlights (GAAP basis) are as follows:
-Q1 2025 revenue versus Q1 2024 revenue increased approximately 135% to $1,200,830 in Q1 2024 compared to $511,308 in Q1 2023
-As of November 30, 2024 we owned 4,640 miners compared to 1,606 owned miners as of November 30, 2023
-Cash (used in) operating activities in Q-1 2025 was $(95,934) compared to $(45,290) in Q-1 2024
- The net loss attributable top common shareholders was $3,935,386 in Q-1 2025 compared with $929,870 in Q-1 2024. The increase is primarily attributable to a one-time non cash deemed dividend of $2,960,648 on Series A Preferred stock due to anti-dilution reset of the convert price.
-Basic and diluted loss per common share was $(0.08) in Q-1 2025 compared to $(0.02) in Q-1 2024
First Quarter 2025 Non GAAP Financial Highlights
We have included in this Report measures of financial performance that are not defined by GAAP. We believe that these measures provide useful information to investors.
For the purposes of this Report the two non-GAAP measures are defined
as:
“Adjusted net loss attributable to common shareholders” is defined as the GAAP “net loss attributable to common shareholders” minus $2,960,648 in deemed dividends attributable to the Series A Convertible Preferred Stock.
“Adjusted basic and diluted loss per common share” is defined as the GAAP “basic and diluted loss per common share” minus deemed dividends attributable to the Series A Convertible Preferred Stock.
Based on the above definitions adjusted net loss attributable to common shares holders for Q1` fiscal 12025 compared to 2024 was $974,738 and $929,870, was respectively and the adjusted basic and diluted loss per common share was $(0.02) and $(0.02), respectively.
Management Commentary
“We are proud of our ability to continue to grow revenue while also continuing to maintain a cost structure that leverages our overhead and is close to breakeven on a cash flow basis.” said Jonathan Bates, Chairman and CEO of BitMine. Mr. Bates continued, “We have been able to navigate growth, substantially increase the miners we have in the field, despite a halving of the bitcoin rewards and consistent bitcoin network difficulty increases. I think this is a testament to our team’s work ethic and willingness to pursue creative approaches to financing our mining fleet, which distinguishes us from our peers.”
Operational Update
In addition to the approximately 1600 company machines running in Trinidad, Pecos, Texas and Murray, Kentucky, BitMine purchased 3000 additional miners during the fiscal 2025 Q1 ending 11/30/24. These machines were sent to a hosting facility in Silverton, Texas. Approximately 2600 miners were installed throughout the month of December. There were operational issues with approximately 400 of the 3000 miners, which are under warranty and currently being replaced. The company expects to have these machines replaced and hashing in the coming weeks. This added mining capacity is expected to approximately triple self-mining revenue once fully installed.
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About Bitmine Immersion Technologies, Inc.
BitMine is a technology company focused on Bitcoin mining using immersion technology, an advanced cooling technique whe
Dec 11, 2024
2 bitmine_ex9901.htm
Exhibit 99.1
BitMine Immersion Technologies Reports Annual Sales Increase of 413%
Announces Share Buyback Program
Las Vegas, NV – December 9, 2024 – Bitmine Immersion Technologies, Inc. (OTCQX: BMNR) ("Bitmine" or "the Company"), a leading blockchain technology firm specializing in immersion-cooled bitcoin mining, today announced annual results and achievements for the fiscal year ended August 31, 2024 summarized in key metrics below. BitMine continues to expand its operational footprint and is currently deploying 3000 recently purchased ASICs to its existing fleet of approximately 1,640 units. Separately, BitMine has established a corporate share buyback plan, and established a relationship with a brokerage firm that specializes in corporate share repurchases.
Key metrics summary:
August 31, 2024 August 31, 2023
Revenue $3,310,348 $645,278
Net loss (3,292,503) (2,464,884)
General and administrative expense 370,163 293,989
New cash used in operating activities (28,753) (809,715)
Other expense 845,018 51,801
Loss per share $(0.07) $(0.05)
Non-cash stock based compensation
1,123,138 1,309,746
Depreciation expense 923,545 470,705
Related party debt 1,625,000 1,300,000
Other debt $– $–
As of December 5, 2024 December 5, 2023
Number of miners owned 4,725 1,691
1
Management Commentary
Jonathan Bates, CEO of BitMine Immersion Technologies, stated:
"2024 has been a transformative year for Bitmine, as we substantially expanded revenue and scaled operations. We are very excited about the prospects for 2025, especially given the significant rise in the price of bitcoin. In order to fully understand our operating results, it is important to note that despite our losses on a GAAP basis, there are several key metrics to analyze in our financial results. There are a number of significant non-cash charges on our income statement which include stock-based compensation, depreciation, and certain items included in other expenses. As a result, net cash used in operating activities on our statement of cash flows for the fiscal year ended 2024 was $(28,753) which is close to breakeven, and a big improvement over 2023 net cash used in operating activities of $(809,715). “Mr. Bates continued, “Our operating expenses are low compared to our peers, and more importantly we were able to leverage our low overhead and significantly increase sales without adding any additional employees. We expect this trend to continue in the short-term. Finally, the interest of management is fully aligned with our shareholders as evidenced by the fact that management are the largest shareholders, and collectively our executive officers and Board members have taken virtually no cash compensation since the inception of the Company. Furthermore, by diversifying our offerings to include advanced financial services through hashrate buying and selling, and exploring new opportunities within the Bitcoin ecosystem, we are creating additional pathways for growth. Leveraging technology and strategic geographic expansion, we remain focused on delivering sustained value to our shareholders while broadening our focus on the continued adoption of Bitcoin.”
Lastly, Mr. Bates stated, “We have made the decision to establish a corporate share buyback program, because we feel it is a prudent use of shareholder capital at this time. Our board has approved the repurchase of up to $250,000 of our common stock through December31_, 2025. The purpose is to reduce the issued share capital of the Company an opportunistic basis when management believes that the prevailing share price is less than the intrinsic value of the Company.”
Key Highlights
·
Record Self-Mining Operations:
Bitmine's bitcoin self-mining operations achieved record annualized revenue of $3.03 million, marking a 679% year-over-year increase in self-mining. This growth underscores the Company's focus on driving strong revenue growth and expanding bitcoin operations, and the ability to creatively finance ASICs.
·
Trinidad Operations:
The Company resolved prior utility disputes at its Trinidad facility, and is now operating at a competitive electricity rate of $0.035 per kWh. This site has become a cornerstone of Bitmine’s low-cost hosting strategy. The company has 1.6 Megawatts deployed as part of up to 100 Megawatts available. BitMine is scouting locations for the next 1.6 Megawatts, with all of the data center equipment already in Trinidad.
·
Pecos, Texas Operation:
This site is approved for 5 Megawatts. The company operates one immersion container with 0.6 Megawatts of capacity for its own use and owns approximately 30% of an immersion data center operation that utilizes the remaining 4.4 Megawatts of electricity capacity. BitMine is in discussions to expand its footprint at this site.
·
Revenue Growth and Diversification:
Bitmine reported a 400% year-over-year increase in total revenue, driven primarily by gains in self-mining. Th
This page provides BitMine Immersion Technologies Inc. 9.5% Series A Perpetual Preferred Stock (BMNP) earnings call transcripts from SEC 8-K filings along with AI-powered predictions for post-earnings price movements. Our machine learning models analyze historical earnings data, pre-earnings price patterns, volume changes, and volatility to predict 1-day, 5-day, and 20-day returns after each earnings release.
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