New Risk • May 03
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$8.7b Forecast net loss in 1 year: US$2.4b This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Shareholders have been substantially diluted in the past year (over 286x increase in shares outstanding). Minor Risk Currently unprofitable and not forecast to become profitable next year (US$2.4b net loss next year). Reported Earnings • Apr 17
Second quarter 2026 earnings released: US$8.40 loss per share (vs US$0.58 loss in 2Q 2025) Second quarter 2026 results: US$8.40 loss per share (further deteriorated from US$0.58 loss in 2Q 2025). Revenue: US$11.0m (up US$9.52m from 2Q 2025). Net loss: US$3.82b (loss widened US$3.82b from 2Q 2025). Revenue is forecast to grow 76% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Global Software industry. お知らせ • Mar 25
Bitmine Immersion Technologies Announces Launch of MAVAN Staking Solution Bitmine Immersion Technologies, Inc. announced the official launch of MAVAN (Made in America VAlidator Network), its proprietary institutional-grade Ethereum staking platform. MAVAN is designed to serve as the premier Ethereum staking destination for institutions, with a focus on security, performance, and resilience. The platform combines U.S.-based infrastructure for institutions requiring domestic validation with a flexible, globally distributed architecture to support clients worldwide. Originally developed to support Bitmine's own Ethereum treasury, MAVAN intends to expand to serve institutional investors, custodians, and ecosystem partners seeking best-in-class staking infrastructure. As of 5:00PM ET on March 24, 2026, Bitmine total staked ETH stands at 3,142,643 ($6.8 billion at $2,148 per ETH via Coinbase). Bitmine has staked more ETH than other entities in the world. When Bitmine's ETH is fully staked by MAVAN in the coming weeks, the ETH staking rewards will be nearly $300 million annually (using 2.83% 7-day BMNR yield). In this past week, Bitmine staked 101,776 ETH ($219 million) to MAVAN and intends to continue to add scale over the coming weeks with the goal of staking nearly all of Bitmine's remaining unstaked ETH. お知らせ • Jan 29
Bitmine Immersion Technologies, Inc. Terminates Erik Nelson as President, Effective as of January 22, 2026 On January 22, 2026, Bitmine Immersion Technologies, Inc. entered into a Separation Agreement and General Release with its President, Erik Nelson, memorializing the terms of his separation from the Company. The Company also provided Mr. Nelson notice of his separation on the same date. The Compensation Committee of the Board of Directors and the Board of Directors (the “Board”) each took action on January 22, 2026, to review and approve the Separation Agreement and the separation benefits contemplated thereby. Under the Separation Agreement, the parties agreed that Mr. Nelson’s employment will terminate without Cause effective as of January 22, 2026. Reported Earnings • Jan 15
First quarter 2026 earnings released: US$15.98 loss per share (vs US$1.66 loss in 1Q 2025) First quarter 2026 results: US$15.98 loss per share (further deteriorated from US$1.66 loss in 1Q 2025). Net loss: US$5.20b (loss widened US$5.20b from 1Q 2025). Revenue is forecast to grow 93% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Global Software industry. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to Mex$595, the stock trades at a trailing P/E ratio of 43.3x. Average forward P/E is 23x in the Software industry globally. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to Mex$559, the stock trades at a trailing P/E ratio of 36.2x. Average forward P/E is 23x in the Software industry globally. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to Mex$585, the stock trades at a trailing P/E ratio of 36.5x. Average forward P/E is 22x in the Software industry globally. お知らせ • Nov 24
Bitmine Immersion Technologies, Inc., Annual General Meeting, Jan 15, 2026 Bitmine Immersion Technologies, Inc., Annual General Meeting, Jan 15, 2026. Location: wynn meeting and conference center, 3131 las vegas blvd s, las vegas, nevada 89109, United States Reported Earnings • Nov 23
Full year 2025 earnings released: EPS: US$13.84 (vs US$1.32 loss in FY 2024) Full year 2025 results: EPS: US$13.84 (up from US$1.32 loss in FY 2024). Net income: US$334.1m (up US$337.4m from FY 2024). お知らせ • Nov 22
Bitmine Immersion Technologies, Inc. Declares Annual Dividend, Payable on December 29, 2025 Bitmine Immersion Technologies, Inc. declared annual dividend of $0.01 per BMNR share. Declaration date is November 21, 2025; Ex-dividend date is December 5, 2025; Record date December 8, 2025; Payable date is December 29, 2025. お知らせ • Nov 18
Bitmine Immersion Technologies, Inc. to Report Q4, 2025 Results on Nov 21, 2025 Bitmine Immersion Technologies, Inc. announced that they will report Q4, 2025 results Pre-Market on Nov 21, 2025 Board Change • Sep 11
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent Director Lori Love was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.