BitMine Immersion Technologies, Inc. (NYSE American: BMNR), a leading technology company specializing in Bitcoin accumulation through mining and capital investments, has announced an $18 million underwritten public offering. The company’s shares are set to begin trading on the NYSE American exchange under the symbol "BMNR" on June 5, 2025.
Key Highlights of the Public Offering
- Offering Size: 2,250,000 shares of common stock priced at $8.00 per share.
- Gross Proceeds: $18 million (before underwriting fees).
- Over-Allotment Option: Underwriters may purchase an additional 337,500 shares within 45 days.
- Expected Closing: June 6, 2025, pending standard conditions.
Use of Proceeds
BitMine plans to allocate the net proceeds toward Bitcoin purchases, reinforcing its long-term investment strategy in the cryptocurrency market.
NYSE American Uplisting Details
- Trading Symbol: BMNR (effective June 5, 2025).
- Transition: OTCQX trading will cease concurrently with the NYSE American listing.
- Shareholder Action: No steps required for existing stockholders.
Underwriter and Regulatory Compliance
ThinkEquity serves as the sole book-running manager. The offering complies with an effective SEC registration (Form S-1, File No. 333-284361).
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About BitMine Immersion Technologies
BitMine operates as a Bitcoin Network Company, with core activities including:
- Bitcoin mining in low-energy-cost regions (Trinidad, Texas).
- Synthetic Bitcoin Mining via hashrate financial products.
- Advisory services for businesses seeking Bitcoin-denominated revenue streams.
Forward-Looking Statements
This release contains projections subject to risks, such as market competition, technological advancements, and regulatory changes. Refer to BitMine’s SEC filings for detailed risk factors.
FAQs
Q: How will BitMine use the $18 million proceeds?
A: The funds will primarily purchase Bitcoin to bolster the company’s investment portfolio.
Q: What changes for current shareholders after the NYSE listing?
A: Shareholders retain their holdings; no action is needed. OTCQX trading will automatically transition to NYSE American.
Q: Where does BitMine operate its mining facilities?
A: Key sites include Trinidad, Pecos (Texas), and Silverton (Texas), chosen for cost-efficient energy.
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Contact:
Jonathan Bates, Chairman & CEO
[email protected]