BMNR · Bitmine Immersion Technologies, Inc.

This 8-K filing by Bitmine Immersion Technologies, Inc. (NYSE: BMNR) provides a significant operational update via press release (Exhibit 99.1). The company disclosed that as of June 28, 2026, it held 5,700,040 ETH (valued at $1,569 per ETH, per Coinbase), making it the largest known corporate Ethereum treasury globally. Combined with 206 Bitcoin, $180 million in Beast Industries, $74 million in Eightco Holdings, and $555 million in cash and marketable securities, total resources reached $9.8 billion. Bitmine also noted it owns 4.7% of the total ETH supply of 120.7 million, approaching its 'Alchemy of 5%' target. The company's staked ETH (4,879,157 tokens) via its MAVAN platform is generating a 7-day staking yield of 2.75% annualized, with projected annual staking revenues of $211 million. A notable catalyst was Bitmine's inclusion in the Russell 1000 index on June 26, 2026, which management expects to attract hundreds of additional institutional investors. Additionally, the company completed its offering of 3,500,000 shares of 9.50% Series A Perpetual Preferred Stock (BMNP) on June 10, raising net proceeds of approximately $273.8 million. The preferred stock trades on the NYSE with weekly dividends. Management commentary reaffirmed the long-term positive outlook for crypto driven by Wall Street modernization and AI payment systems, despite recent price volatility. The Chairman, Thomas 'Tom' Lee, emphasized the company's steady accumulation pace and confidence in reaching its 5% ETH ownership goal within 2026.