BitMine Immersion Technologies, Inc. Announces Closing of $18 Million Public Offering and Uplisting to NYSE American

Rhea-AI Summary

BitMine Immersion Technologies (NYSE American: BMNR) has successfully completed an $18 million public offering and uplisted to the NYSE American exchange. The company sold 2,250,000 shares of common stock at $8.00 per share, with trading beginning on June 5, 2025. The underwriters have a 45-day option to purchase an additional 337,500 shares to cover over-allotments. ThinkEquity served as the sole book-running manager for the offering. BitMine, which focuses on bitcoin accumulation through mining operations and capital raising, plans to use the net proceeds to purchase bitcoin. The offering was made through a Form S-1 registration statement that became effective on June 4, 2025.

Positive

• Successfully raised $18 million through public offering
• Achieved uplisting to NYSE American exchange, providing greater visibility and liquidity
• Underwriters have option to purchase additional shares worth up to $2.7 million
• Clear use of proceeds focused on bitcoin acquisition strategy

Negative

• Potential dilution for existing shareholders from 2.25 million new shares
• Additional dilution possible if over-allotment option is exercised
• Direct exposure to volatile bitcoin prices through planned use of proceeds

LAS VEGAS, NV / ACCESS Newswire / June 6, 2025 / BitMine Immersion Technologies, Inc. ("BitMine" and the "Company") (NYSE American:BMNR), a technology company focused on the accumulation of bitcoin for long-term investment, whether acquired by their bitcoin mining operations or from the proceeds of capital raising transactions, today announced the closing of its underwritten public offering of 2,250,000 shares of its common stock at a price to the public of $8.00 per share, for gross proceeds of $18 million, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 337,500 shares of common stock to cover over-allotments, if any.

The common shares sold in the offering began trading on the NYSE American Market under the symbol "BMNR" on June 5, 2025.

The Company intends to use the net proceeds of the offering to purchase bitcoin.

ThinkEquity acted as sole book-running manager for the offering.

A registration statement on Form S-1 (File No. 333-284361) relating to the shares was filed with the Securities and Exchange Commission ("SEC") and became effective on June 4, 2025. This offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. The final prospectus will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About BitMine

BitMine is a Bitcoin Network Company, with a focus on Bitcoin mining, Synthetic Bitcoin Mining through involvement in Bitcoin mining, hashrate as a financial product, offering advisory and mining services to companies interested in earning Bitcoin denominated revenues, and general Bitcoin advisory to public companies. BitMine's operations are located in low-cost energy regions in Trinidad; Pecos, Texas; and Silverton, Texas.

Forward Looking Statements

This press release contains statements that constitute "forward-looking statements." The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. This document specifically contains forward-looking statements regarding the offering, the expected proceeds from such offering, the expected use of proceeds from such offering, and the potential benefits of the proceeds to BitMine. In evaluating these forward-looking statements, you should consider various factors, including BitMine's ability to keep pace with new technology and changing market needs; BitMine's ability to finance its current business and proposed future business; and the competitive environment of BitMine's business. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond BitMine's control, including those set forth in the Risk Factors section of BitMine's Form 10-K filed with the Securities and Exchange Commission (the "SEC") on April 3, 2025, as well as any other SEC filings, as amended or updated from time to time. Copies of BitMine's filings with the SEC are available on the SEC's website at www.sec.gov. BitMine undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:

Jonathan Bates, Chairman and CEO
info@bitminetech.io

SOURCE: BitMine Immersion Technologies, Inc.

View the original press release on ACCESS Newswire

FAQ

What is the stock symbol for BitMine Immersion Technologies on NYSE American?

BitMine Immersion Technologies trades under the symbol BMNR on the NYSE American exchange.

How much did BitMine raise in their public offering?

BitMine raised $18 million in gross proceeds by selling 2,250,000 shares at $8.00 per share.

What will BitMine do with the proceeds from the offering?

BitMine intends to use the net proceeds from the offering to purchase bitcoin.

When did BMNR begin trading on NYSE American?

BMNR began trading on the NYSE American Market on June 5, 2025.

Who was the underwriter for BitMine's public offering?

ThinkEquity acted as the sole book-running manager for the offering.