BitMine Immersion Technologies, Inc. Announces Reverse Stock Split
BitMine Immersion Technologies (OTCQX:BMNR) has announced a 1-for-20 reverse stock split effective May 16, 2025, at 9:00 AM ET. The company will not issue fractional shares; instead, shareholders entitled to fractional shares will receive cash equivalent to the market value based on the closing price of May 15, 2025.
CEO Jonathan Bates indicated that this reverse split is strategically aimed at meeting listing requirements for the company's application to a national securities exchange.
BitMine Immersion Technologies (OTCQX:BMNR) ha annunciato un raggruppamento azionario inverso 1-contro-20 che entrerà in vigore il 16 maggio 2025 alle 9:00 ET. La società non emetterà azioni frazionarie; pertanto, gli azionisti che avessero diritto a frazioni di azioni riceveranno un corrispettivo in denaro pari al valore di mercato basato sul prezzo di chiusura del 15 maggio 2025.
Il CEO Jonathan Bates ha dichiarato che questo raggruppamento inverso è strategicamente volto a soddisfare i requisiti di quotazione per la domanda della società su una borsa valori nazionale.
BitMine Immersion Technologies (OTCQX:BMNR) ha anunciado una consolidación inversa de acciones 1 por 20 que será efectiva el 16 de mayo de 2025 a las 9:00 AM ET. La empresa no emitirá acciones fraccionarias; en su lugar, los accionistas con derecho a acciones fraccionarias recibirán un pago en efectivo equivalente al valor de mercado basado en el precio de cierre del 15 de mayo de 2025.
El CEO Jonathan Bates indicó que esta consolidación inversa está estratégicamente dirigida a cumplir con los requisitos de cotización para la solicitud de la empresa en una bolsa de valores nacional.
BitMine Immersion Technologies (OTCQX:BMNR)는 2025년 5월 16일 오전 9시(동부시간)부터 1대 20 액면병합을 시행한다고 발표했습니다. 회사는 소수 주식을 발행하지 않으며, 소수 주식 권리가 있는 주주에게는 2025년 5월 15일 종가를 기준으로 한 시장 가치에 상응하는 현금이 지급됩니다.
CEO 조나단 베이츠는 이번 액면병합이 회사의 전국 증권거래소 상장 신청을 위한 상장 요건을 충족하기 위한 전략적 조치라고 밝혔습니다.
BitMine Immersion Technologies (OTCQX:BMNR) a annoncé un fractionnement inversé d’actions au ratio de 1 pour 20 qui prendra effet le 16 mai 2025 à 9h00 (heure de l’Est). La société n’émettra pas d’actions fractionnaires ; les actionnaires ayant droit à des fractions d’actions recevront en lieu et place une compensation en espèces équivalente à la valeur marchande basée sur le cours de clôture du 15 mai 2025.
Le PDG Jonathan Bates a indiqué que ce fractionnement inversé vise stratégiquement à répondre aux exigences de cotation dans le cadre de la demande de la société auprès d’une bourse nationale.
BitMine Immersion Technologies (OTCQX:BMNR) hat eine Reverse-Split-Aktie im Verhältnis 1 zu 20 angekündigt, die am 16. Mai 2025 um 9:00 Uhr ET wirksam wird. Das Unternehmen wird keine Bruchstücke von Aktien ausgeben; Aktionäre, die Anspruch auf Bruchstücke haben, erhalten stattdessen eine Barauszahlung entsprechend dem Marktwert basierend auf dem Schlusskurs vom 15. Mai 2025.
CEO Jonathan Bates erklärte, dass dieser Reverse Split strategisch darauf abzielt, die Anforderungen für die Notierung an einer nationalen Wertpapierbörse zu erfüllen.
- Strategic move towards uplisting to a national securities exchange, potentially increasing visibility and trading volume
- Potential to attract institutional investors with higher share price
- Significant reduction in outstanding shares could impact stock liquidity
- Cash payments for fractional shares may result in forced selling for some shareholders
- Reverse splits are often viewed negatively by the market as a sign of company struggles
LAS VEGAS, NV / ACCESS Newswire / May 16, 2025 / BitMine Immersion Technologies, Inc. ("BitMine" or the "Company") (OTCQX:BMNR) is pleased to announce a 1 for 20 reverse split of its common stock. The reverse split will be effective Friday May 16, 2025 at 9:00 a.m. eastern time. No fractional shares shall be issued in connection with the reverse split, and any shareholders who otherwise would be entitled to receive fractional shares of common stock shall be entitled to receive cash equal to the market value of its fractional share at the closing price of the common stock on May 15, 2025.
Jonathan Bates, BitMine CEO, was quoted as saying, "This reverse split is part of our efforts to meet listing requirements in connection with the Company's application to list on a national securities exchange."
For additional information, please see the Company's filings with the Securities and Exchange Commission available at www.sec.gov.
About BitMine Immersion Technologies, Inc.
BitMine is a technology company focused on Bitcoin mining using immersion technology, an advanced cooling technique where computers are submerged in specialized oil circulated to keep units operating at optimal ambient temperature. Immersion technology is more environmentally friendly than conventional mining methodologies, while lowering operating expenses and increasing yield. BitMine's operations are located in low-cost energy regions in Trinidad, Pecos, Texas, and Murray, Kentucky.
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. 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 4, 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.
BitMine Immersion Technologies 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 reverse stock split ratio for BitMine (BMNR) announced on May 16, 2025?
Why is BitMine (BMNR) doing a reverse stock split?
What happens to fractional shares in BMNR's reverse split?
When does the BMNR reverse stock split take effect?
What exchange does BitMine (BMNR) currently trade on?
