Bitmine Immersion Now Holds Approximately $500 Million of Ethereum to Advance Its Ethereum Treasury Strategy

BitMine Immersion Now Holds Approximately $500 Million of Ethereum, Exceeding PIPE Proceeds by 100%

LAS VEGAS – July 14, 2025 – BitMine Immersion Technologies, Inc. (NYSE AMERICAN: BMNR) ("BitMine" or the "Company") today announced a significant milestone in its Ethereum treasury strategy, reporting holdings of ETH exceeding $500 million as of July 14th, 2025, at 7:45am ET.

Just days after closing its initial private placement (PIPE) of $250 million on July 9th, BitMine has more than doubled that amount in ETH holdings. The Company currently holds 163,142 ETH, valued at $3,072.67 per ETH (Bloomberg).

This rapid accumulation underscores the Company's commitment to increasing its stake in the Ethereum network as part of its broader asset-light treasury strategy.

Key Takeaways and Strategic Vision

Massive ETH Accumulation: Surpassing $500 million in ETH holdings in less than a week demonstrates aggressive execution on the Company's treasury strategy.

Validation of Strategy: According to Thomas "Tom" Lee of Fundstrat, the newly appointed Chairman of BitMine's Board of Directors, achieving over $500 million in holdings "validates our mission to increase our stake in the Ethereum network."

Market Reception: Jonathan Bates, CEO of BitMine, noted the swift increase just three days post-PIPE closing, stating, "Clearly Wall Street is getting 'ETH-pilled.'"

Long-Term Value Creation: BitMine aims to increase ETH held per share through a combination of:

• Reinvestment of Company cash flows.
• Capital markets activities, including utilizing volatility to lower the cost of capital.
• Earning staking yield on its ETH holdings.

The value of ETH holdings is directly impacted by the change in the market price of ETH.

Drawing Parallels to Bitcoin Treasury Leaders: Thomas Lee highlighted the potential "reflexive benefit" of acquiring large crypto holdings, drawing a comparison to Microstrategy's substantial Bitcoin accumulation. Just as Microstrategy's large BTC position has created a perceived "sovereign put," Lee believes accumulating a significant percentage (like 5%) of ETH supply could benefit from a similar "Wall Street put."

Industry Convergence: Lee referenced comments from figures like Vlad Tenev, CEO of Robinhood, about tokenization being a major capital markets innovation, indicating Wall Street's increasing convergence with crypto. He emphasized Ethereum's position as the leading layer 1 blockchain.

BitMine's Business Focus

BitMine operates as a Bitcoin and Ethereum Network Company focused on accumulating crypto for long-term investment. This crypto is acquired either through its Bitcoin mining operations or from capital raising activities.

The Company's business lines include:

• Bitcoin Mining
• Synthetic Bitcoin mining through involvement in the network
• Hashrate as a financial product
• Offering advisory and mining services to companies seeking Bitcoin-denominated revenues
• General Bitcoin advisory services for public companies

BitMine strategically locates its operations in regions with low energy costs, including Trinidad, Pecos, Texas, and Silverton, Texas.

Future Outlook

The successful accumulation of a significant ETH treasury positions BitMine as a notable player among publicly traded companies with crypto holdings. This strategy aims not only to benefit from potential ETH price appreciation and staking yields but also to strengthen BitMine's balance sheet and enhance its visibility within the crypto and traditional financial markets.

The Company remains focused on executing its multi-faceted approach to crypto accumulation and leveraging its operational infrastructure to support its treasury strategy.