Price Target Changed • Jul 02
Price target decreased by 7.8% to US$34.43 Down from US$37.33, the current price target is an average from 3 analysts. New target price is 140% above last closing price of US$14.36. Stock is down 89% over the past year. The company is forecast to post a net loss per share of US$7.57 compared to earnings per share of US$13.60 last year. Live News • Jun 29
Bitmine Immersion Technologies Completes NYSE Uplisting and Builds $13 Billion Crypto Treasury Bitmine Immersion Technologies has built a crypto and cash treasury of roughly $12 billion to $13.4 billion, including more than 5.6 million ETH (about 4.7% of Ethereum’s circulating supply), alongside an uplisting to the New York Stock Exchange and potential Russell 1000 inclusion.
The company’s Made in America Validator Network (MAVAN) manages staking on over 4.7 million ETH, with annualized staking revenues projected in a $230 million to $300 million range. Management is also deploying capital into share buybacks and blockchain and AI-related ventures.
Bitmine Immersion Technologies shares trade at $13.56, with the stock down 56.5% year to date, despite the larger NYSE listing that is expected to improve liquidity and institutional access.
The combination of a concentrated Ethereum position, a meaningful staking revenue stream and NYSE presence leaves investors heavily exposed to both Ethereum price swings and operational execution in Bitmine’s staking and digital asset strategies. Live News • Jun 22
Bitmine Immersion Technologies Raises $274 Million to Scale Ethereum Staking Platform Bitmine Immersion Technologies raised about $273.8m through an upsized public offering of 3.5 million shares of its 9.50% Series A Perpetual Preferred Stock. The preferred shares began trading on the NYSE under the ticker BMNP in June 2026.
The company intends to use the proceeds to buy more Ethereum and other digital assets, scale its MAVAN Ethereum staking and validator infrastructure, and pursue strategic investments. It may also repurchase common stock. Bitmine currently holds roughly 5.62 million ETH, with over 4.7 million ETH staked and projected annualized staking revenues above $226m.
Bitmine Immersion Technologies’ common stock trades around $16.14, with the share price down about 48.3% year to date.
The funding move further concentrates Bitmine’s exposure to Ethereum, so the main risk lens here is exposure to ETH price and staking economics alongside the company’s ability to maintain those projected cash flows. Live News • Jun 12
BitMine Immersion Eyes 5% Ethereum Supply Target with NYSE Move and Bitcoin Expansion BitMine Immersion Technologies holds about 5.54 million ETH, or roughly 4.59% of circulating supply, and is targeting ownership of 5% by late 2026 while moderating its previously aggressive weekly purchases that exceeded 100,000 ETH.
The company operates MAVAN, an institutional Ethereum staking platform with over 4.7 million ETH staked and annualized staking revenues projected around US$230 million, supported by total crypto and cash holdings of about US$9.6b.
BitMine recently uplisted from NYSE American to the New York Stock Exchange and is approaching inclusion in the Russell 1000 Index, while also expanding into Bitcoin mining and AI and digital finance ventures.
The scale of BitMine’s Ethereum position and staking operations places the company among the more concentrated ETH-focused treasury and infrastructure plays. This ties its fortunes closely to Ethereum’s price, network usage and regulatory outcomes.
At the same time, management’s expansion into Bitcoin mining and AI-related projects adds new revenue avenues. It also introduces execution risk and greater exposure to crypto market volatility and operational costs. Live News • Jun 04
Bitmine Immersion Targets 5% Ethereum Supply With $4.7 Million ETH Staked and New Preferred Offering Bitmine Immersion Technologies now holds over 5.4 million ETH, about 4.49% of circulating supply, with more than 4.7 million ETH staked on its MAVAN platform and total crypto and cash assets of roughly US$11.6b.
The company reports net losses above US$3.8b and estimated unrealized losses of around US$8.9b tied to ETH trading below US$1,800, while the stock is down about 26% over the past month and 46% year to date and trading near book value with a P/B below peers.
Bitmine has proposed a US$300m Series A perpetual preferred stock offering with a 9.5% cumulative dividend and has expanded its common share repurchase authorization to US$4b, while continuing to target ownership of 5% of ETH supply by late 2026.
The picture that emerges is a company highly concentrated in Ethereum, with sizeable paper and reported losses but substantial on-balance-sheet assets and a focus on income from staking via MAVAN.
You should weigh the appeal of large ETH exposure, institutional-grade staking infrastructure and preferred dividends against stock volatility, crypto price sensitivity and the execution risk tied to financing plans and continued ETH accumulation. Price Target Changed • May 11
Price target increased by 8.2% to US$37.33 Up from US$34.50, the current price target is an average from 3 analysts. New target price is 62% above last closing price of US$23.02. Stock is up 156% over the past year. The company is forecast to post a net loss per share of US$15.82 compared to earnings per share of US$13.60 last year. 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 Risk Shareholders have been substantially diluted in the past year (over 286x increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$2.4b net loss next year). Share price has been volatile over the past 3 months (13% average weekly change). Reported Earnings • Apr 16
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 Software industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 105 percentage points per year, which is a significant difference in performance. Announcement • 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. New Risk • Feb 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 111% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 228x increase in shares outstanding). Announcement • 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. New Risk • Jan 14
New major risk - Revenue and earnings growth Earnings have declined by 111% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 111% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 213x increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to US$33.35, the stock trades at a trailing P/E ratio of 43.3x. Average forward P/E is 15x in the Software industry in the US. Total returns to shareholders of 138% over the past three years. 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 US$30.95, the stock trades at a trailing P/E ratio of 36.2x. Average forward P/E is 15x in the Software industry in the US. Total returns to shareholders of 121% over the past three years. 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 US$31.74, the stock trades at a trailing P/E ratio of 36.5x. Average forward P/E is 13x in the Software industry in the US. Total returns to shareholders of 127% over the past three years. Announcement • 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: EPS exceeds analyst expectations while revenues lag behind 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). Revenue missed analyst estimates by 10%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • 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. Announcement • 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 Announcement • Aug 28
Bitmine Immersion Technologies, Inc. Appoints David Sharbutt to the Board of Directors Bitmine Immersion Technologies, Inc. announced that David Sharbutt has been elected to the company's board of directors. David is the founder, Chairman, & CEO of Alamosa Holdings which became a public company in 2000, and quickly grew to a presence in 22 states with revenues exceeding $1B. Alamosa was acquired by Sprint in 2006. David was elected to the board of American Tower Corporation (NYSE:AMT) in 2006 and continued to serve until 2023. During David's time at American Tower, it grew from a moderate sized domestic tower company to become the largest REIT in the world. It is the leading global provider of shared infrastructure. David served on the Audit Committee and the Nominating and Corporate Governance Committee for American Tower, serving as the Committee Chair from 2017 to 2022. David is involved in a number of private companies as an owner and Director. These companies involve real estate, telecom, technology, food safety, restaurants, agriculture, reverse logistics, and dry cleaning. David is the Chair and primary owner of Edit Holdings. Edit Holdings operates Tide Dry Cleaners in Houston, Austin, Lubbock, Amarillo, Colorado Springs, and Denver. Announcement • Jul 29
Bitmine Immersion Technologies, Inc. (NYSEAM:BMNR) announces an Equity Buyback for $1,000 million worth of its shares. Bitmine Immersion Technologies, Inc. (NYSEAM:BMNR) announces a share repurchase program. Under the program, the company will repurchase up to $1,000 million worth of its shares. Announcement • Jul 22
Bitmine Immersion Technologies, Inc. announced that it has received $182 million in funding from ARK Investment Management LLC Bitmine Immersion Technologies, Inc announced that it has completed a private placement and issued 4,773,444 common shares at a price of $38.127608 for aggregate gross proceeds of $182,000,001.64 on July 22, 2025. The Net proceeds received by the company from the transaction amounted to $177,000,000. The transaction included participation from ARK Invest. Announcement • Jul 09
Bitmine Immersion Technologies, Inc. has filed a Follow-on Equity Offering in the amount of $2 billion. Bitmine Immersion Technologies, Inc. has filed a Follow-on Equity Offering in the amount of $2 billion.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Announcement • Jul 04
Bitmine Immersion Technologies, Inc. announced that it has received $212.921061 million in funding from a group of investors On July 3, 2025, Bitmine Immersion Technologies, Inc. closed the transaction. Reported Earnings • Jul 03
Third quarter 2025 earnings released: US$0.31 loss per share (vs US$0.26 loss in 3Q 2024) Third quarter 2025 results: US$0.31 loss per share. Revenue: US$2.05m (up 68% from 3Q 2024). Net loss: US$622.8k (loss narrowed 4.8% from 3Q 2024). Announcement • Jul 01
Bitmine Immersion Technologies, Inc. Announces Board Changes Bitmine Immersion Technologies, Inc. approved the increase of the size of the Company’s Board from seven to eight directors. Effective immediately, the Board elected Thomas Lee as a director to fill the newly created director position, and to serve until the next annual meeting of shareholders of the Company or until his successor is elected or appointed and qualified. Jonathan Bates, the Company’s Chief Executive Officer, stepped down as the Chairman of the Board, and the Board elected Mr. Lee as Chairman of the Board. The Board has not determined committee appointments for Mr. Lee at this time. The Board believes Mr. Lee is qualified to serve as a director and Chairman of the Board due to his extensive business experience. Mr. Lee is a Managing Partner and the Head of Research at Fundstrat Global Advisors. He is also the Chief Investment Officer (CIO) of Fundstrat Capital which currently manages greater than $1.5 billion in assets under management. He is an accomplished Wall Street strategist with over 25 years of experience in equity research, and has been top ranked by Institutional Investor every year since 1998. Prior to founding Fundstrat, Mr. Lee was at J.P. Morgan from 1999 to 2014 and served as Chief Equity Strategist from 2007 to 2014. He was top-ranked by Institutional Investor every year since 1998. Previously, he served as Managing Director at Salomon Smith Barney. Mr. Lee graduated from the undergraduate program at the Wharton School, University of Pennsylvania. Announcement • Jun 30
Bitmine Immersion Technologies, Inc. announced that it expects to receive $250.000002 million in funding from a group of investors Bitmine Immersion Technologies, Inc announced a private placement to issue 55,555,556 shares of common stock at a price of $4.5 per share for aggregate gross proceeds of $250,000,002 on June 30, 2025. The transaction will include participation from MOZAYYX as a lead Investor and other Investors including Founders Fund, Pantera, FalconX, Republic Digital, Kraken, Galaxy Digital, DCG, Diametric Capital, Occam Crest Management, and Thomas Lee. The transaction is expected to close on or about July 3, 2025. The securities will be issued pursuant to regulation D. New Risk • Jun 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 73% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$171k free cash flow). Share price has been highly volatile over the past 3 months (61% average weekly change). Earnings have declined by 54% per year over the past 5 years. Shareholders have been substantially diluted in the past year (73% increase in shares outstanding). Minor Risks Revenue is less than US$5m (US$4.6m revenue). Market cap is less than US$100m (US$29.0m market cap). Board Change • Jun 05
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. 5 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. Announcement • Jun 05
Bitmine Immersion Technologies, Inc. has completed an IPO in the amount of $18 million. Bitmine Immersion Technologies, Inc. has completed an IPO in the amount of $18 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 2,250,000
Price\Range: $8
Discount Per Security: $0.6 Announcement • May 21
BitMine Immersion Technologies, Inc. Launches Bitcoin Treasury Advisory Practice BitMine Immersion Technologies, Inc. announced the launch of its Bitcoin Treasury Advisory Practice, alongside a $4 million strategic transaction with a U.S. exchange-listed company. BitMine is offering "Mining as a Service," or MaaS, to the strategic partner and plans to offer MaaS to companies that own Bitcoin and wish to add Bitcoin denominated revenue, in addition to Bitcoin, as a core treasury holding. Announcement • Jan 21
Bitmine Immersion Technologies, Inc. has filed an IPO in the amount of $15 million. Bitmine Immersion Technologies, Inc. has filed an IPO in the amount of $15 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: New Market Listing Announcement • Dec 12
Bitmine Immersion Technologies, Inc. (OTCPK:BMNR) announces an Equity Buyback for $0.25 million worth of its shares. Bitmine Immersion Technologies, Inc. (OTCPK:BMNR) announces a share repurchase program. Under the program, the company will repurchase up to $0.25 million worth of its shares. The purpose of program is to reduce the issued share capital. The repurchase program will be valid till December 31, 2025. Announcement • Nov 26
Bitmine Immersion Technologies, Inc. announced delayed annual 10-K filing On 11/25/2024, Bitmine Immersion Technologies, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Jan 17
Bitmine Immersion Technologies, Inc. Announces the Addition of John Kelly to Its Board of Directors BitMine Immersion Technologies, Inc. ("BitMine" or "the Company") announced that it has added John Kelly to its Board of Directors. Mr. Kelly has started numerous successful businesses in Heavy Construction, Site Development, Real Estate Development, Car Dealership construction, and Bitcoin Mining Site development. He has helped develop over 100 Car Dealerships, has owned and constructed over 3 million square feet of industrial buildings, and has overseen the construction of over 10,000 individual housing units. His clients include Amazon, Siemens, RK Centers, Group1 Automotive, and Eversource. He is currently President or Principal of three separate companies, including Rykor Energy Solutions. Rykor Energy Solutions produces a proprietary immersion datacenter primarily used for Bitcoin Mining. Mr. Kelly is a principal of ROC Digital Mining Manager, LLC, which manages ROC Digital Mining I, LLC, hosting and mining enterprise in which the Company is a major investor. Mr. Kelly is very qualified to serve on the board given his deep understanding of the construction and engineering which goes into the development and maintenance of a Bitcoin Mining site. Furthermore, he designed and developed his own immersion datacenter product, which will provide valuable insight to the company. Mr. Kelly holds numerous Contractor licenses related to Industrial, Commercial, and Residential Construction. Mr. Kelly graduated from Boston College in 1991 with a degree in Political Science. Announcement • Nov 30
Bitmine Immersion Technologies, Inc. announced delayed annual 10-K filing On 11/29/2023, Bitmine Immersion Technologies, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Aug 09
Bitmine Immersion Technologies, Inc. Appoints Lori Love to Its Board of Directors BitMine Immersion Technologies, Inc. announced the appointment of Lori Love to its board of directors. Lori has vast experience in both Bitcoin mining as well as helping to grow an important public company miner into a substantial organization. Lori joins effective August 8th and will also be a member of a newly created Audit Committee along with board members Michael Maloney and Jonathan Bates. This board appointment, along with the creation of the Audit Committee, are important steps for BitMine as they are key components toward an upgraded listing. Announcement • Nov 30
Bitmine Immersion Technologies, Inc. announced delayed annual 10-K filing On 11/29/2022, Bitmine Immersion Technologies, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Oct 21
Bitmine Immersion Technologies, Inc. (OTCPK:BMNR) acquired a 30% stake in Roc Digital Mining Manager LLC. Bitmine Immersion Technologies, Inc. (OTCPK:BMNR) acquired a 30% stake in Roc Digital Mining Manager LLC on October 13, 2022.
Bitmine Immersion Technologies, Inc. (OTCPK:BMNR) completed the acquisition of a 30% stake in Roc Digital Mining Manager LLC on October 13, 2022. Announcement • Sep 08
Bitmine Immersion Technologies, Inc. announced that it has received funding Bitmine Immersion Technologies, Inc. announced that it has received an equity round of funding on September 7, 2022. The funding was raised pursuant to regulation D. Announcement • May 29
Bitmine Immersion Technologies, Inc. Appoints Erik Nelsons as President Bitmine Immersion Technologies, Inc. announced the appointment of Erik Nelsons as President. Mr. Nelson previously served as Chief Executive Officer. Announcement • May 28
Bitmine Immersion Technologies, Inc. Resigns Erik S. Nelson as Chief Executive Officer Bitmine Immersion Technologies, Inc. announced on May 26, 2022, Erik S. Nelson resigned as chief executive officer of the company in order to allow Jonathan Bates to assume the position of chief executive officer. Announcement • May 27
BitMine Immersion Technologies, Inc. Appoints Jonathan Bates as Chief Executive Officer BitMine Immersion Technologies, Inc. announced the appointment of Jonathan Bates as Chief Executive Officer and Erik Nelson’s new appointment as President. Mr. Bates has been serving as Chairman of the Board of Directors since July of 2021 and will continue in that role. Mr. Bates has agreed to work for no salary through the end of 2022 and will receive only equity options that will not be exercisable until 2023. Mr. Nelson previously served as Chief Executive Officer. Announcement • Apr 14
Bitmine Immersion Technologies, Inc. announced delayed 10-Q filing On 04/13/2022, Bitmine Immersion Technologies, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Nov 30
Bitmine Immersion Technologies, Inc. announced delayed annual 10-K filing On 11/29/2021, Bitmine Immersion Technologies, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.