Reported Earlier: BitMine Announces $365.24M Registered Direct Offering Of 5,217,715 Shares At $70/Share & 10,435,430 Warrants At $87.50/Share

BitMine sells approximately 5.22 million shares at $70.00 per share and approximately 10.4 million warrants with a strike price of $87.50

BitMine common share sale is a 14% premium to the closing price of BitMine Common Stock on September 19, 2025

BitMine remains supported by a premier group of institutional investors including ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Thomas "Tom" Lee to support BitMine's goal of acquiring 5% of ETH

LAS VEGAS, Sept. 22, 2025 /PRNewswire/ -- (NYSE:BMNR) BitMine Immersion Technologies ("BitMine" or the "Company") a Bitcoin and Ethereum Network Company with a focus on the accumulation of Crypto for long term investment, today announced that it entered into a securities purchase agreement with an institutional investor related to the offer and sale of 5,217,715 shares of the Company's common stock, par value $0.0001 per share (the "Common Stock") at a price of $70.00 per share, and warrants to purchase up to 10,435,430 shares of Common Stock at an exercise price of $87.50 per share (the "Warrants") in a registered direct offering transaction (the "offering"). At $70.00 per share, the Common Stock purchase price represents a premium of approximately 14% to the closing price on September 19, 2025. The Warrants will be exercisable upon issuance and expire on March 22, 2027. Prior to and including the date of expiration, the Warrants may be exercised, in whole or in part, in exchange for cash payment of the exercise price.

The Company expects aggregate gross proceeds from the offering of approximately $365.24 million, before deducting the placement agent's fees and other estimated offering expenses. Potential future aggregate proceeds from the Warrants represent approximately $913 million from cash exercises. This would result in total proceeds of approximately $1.28 billion combining the common offering and the proceeds from a cash exercise of the Warrants.

"BitMine has raised $365.24 million by selling our stock at a 14% premium to Friday's close. By selling shares at $70 per share, compared to our $61.29 closing price, this is materially accretive to existing shareholders as the primary use of proceeds is to add to our ETH holdings," said Thomas Lee, Chairman of BitMine.

"In our view, this 14% premium reflects not only strong institutional investor interest in the BitMine story, but also confidence in our execution as a Company," said Lee. "Institutional investors have told us BitMine remains the only large-cap US stock to give investors direct exposure to ethereum. Our August Chairman's message resonates with many investors, who see the compelling supercycle for ethereum as Wall Street moves to embrace and build upon this blockchain."

The Company expects the offering to close on or about September 23, 2025, subject to the satisfaction of customary closing conditions.

Moelis & Company LLC is acting as the sole placement agent for the offering.

Winston & Strawn LLP served as legal counsel to BitMine Immersion Technologies (BMNR).