Every 10-Q that BitMine Immersion Technologies, Inc. (BMNR) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BMNR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BMNR filings page.
Bitmine Immersion Technologies, Inc. reported a sharp swing in results for the quarter and nine months ended May 31, 2026 as it pivoted to an Ethereum-focused, staking-led model. Total revenue reached $59.9 million for the nine months, with $56.9 million from staking and validation versus none a year earlier; quarterly revenue was $46.5 million.
Results were dominated by mark-to-market movements on crypto holdings and derivatives. The company recorded an unrealized loss of about $9.0 billion on digital assets and a net loss on derivative contracts of roughly $133 million, driving a nine-month net loss of $9.1 billion (loss per share $20.51). Bitmine held digital assets valued at about $10.9 billion, including 5.42 million ETH, and invested heavily via ETH option strategies.
The balance sheet remains equity-heavy, supported by common stock issuance under an at-the-market program that brought in roughly $11.9 billion in cash, and by a March 2026 acquisition of Pier Two for about $27.8 million, adding goodwill and staking-related intangibles. Common shares outstanding more than doubled to 579.7 million. After May 31, 2026 Bitmine further bolstered liquidity with a $273.8 million offering of 9.50% Series A Perpetual Preferred Stock.
Bitmine Immersion Technologies, Inc. reported sharply higher revenue but very large losses as it pivots to an ETH-focused treasury model. For the quarter ended February 28, 2026, revenue rose to $11,041 (in thousands) from $1,517, driven mainly by $10,201 from ETH staking.
Results were dominated by non-cash items. The company recorded an unrealized loss on digital asset holdings of $3,775,209 (in thousands) for the quarter and $9,023,134 for the six months, plus general and administrative expenses of $74,988 and $298,625. Quarterly net loss was $3,818,413 and six‑month net loss was $9,022,508 (all in thousands).
At February 28, 2026, total assets were $9,894,256 (in thousands), including digital assets of $8,806,282 made up of 195 BTC and 4,473,459 ETH, with ETH fair value of $8,793,210. Cash and cash equivalents were $879,577 (in thousands), and stockholders’ equity was $9,858,088 (in thousands). Shares outstanding were 537,628,819 as of April 13, 2026.
The company emphasized its shift away from capital‑intensive mining toward long‑term ETH treasury management, staking and Ethereum‑adjacent services. It raised equity through an at‑the‑market program, generating $10,068,914 (in thousands) of net proceeds and also issued liability‑classified warrants. Bitmine made a $186,024 (in thousands) private investment in Beast Industries and a public equity investment in Eightco, where it recorded unrealized losses.
Subsequent to quarter‑end, Bitmine agreed to acquire Pier Two Holdings Pty Ltd for a preliminary purchase price of about $30.5 million, formed a new staking subsidiary, increased its Eightco investment to about $94,818, and issued an additional 57,107,586 shares via the ATM program.
Bitmine Immersion Technologies, Inc. reported sharply higher revenue but an extremely large loss for the quarter ended November 30, 2025 (figures in thousands). Total revenue rose to 2,293 from 1,201, driven by new leasing revenue of 1,112, staking revenue of 980, and consulting revenue of 199, while mining-related revenue largely disappeared as the company pivoted away from proprietary mining.
The company recorded a net loss of 5,204,095, mainly due to an unrealized loss of 5,247,925 on its digital asset holdings and a spike in general and administrative expenses to 223,436, including substantial one-time capital raising, advisory, legal and consulting fees. Bitmine held digital assets with fair value of 10,561,789, largely Ethereum, with 3,737,140 ETH tokens valued at 10,544,339.
Liquidity increased, with cash and cash equivalents of 887,678 and stockholders’ equity of 11,251,532, supported by significant equity raises under an at-the-market program and a September 2025 share and warrant issuance. The company continued its strategic shift to an ETH-focused, capital-light treasury and staking model, but also disclosed that its disclosure controls and procedures were not effective due to material weaknesses in internal control over financial reporting.