BITMINE IMMERSION TECHNOLOGIES, INC. SEC 10-Q Report

Bitmine Immersion Technologies, Inc., a leading company in the cryptocurrency mining industry, has released its Form 10-Q report for the third quarter of 2025. The report highlights significant financial and operational developments, showcasing the company's growth in revenue and expansion of its business model. This comprehensive summary provides an overview of the key financial metrics and business activities that have shaped the company's performance during this period.

Financial Highlights

• Total Revenue: $4.77 million, reflecting a significant increase from $2.63 million in the prior year period, driven by higher sales of mining equipment and new revenue streams from leasing and consulting.
• Gross Profit: $0.92 million, up from $0.65 million, indicating improved profitability despite increased costs associated with new revenue streams.
• Loss from Operations: $(2.27) million, compared to $(1.79) million in the previous year, primarily due to higher operating expenses including professional fees and officer compensation.
• Net Loss: $(2.75) million, compared to $(2.48) million, impacted by a deemed dividend on Series A Preferred Stock and other expenses.
• Net Loss Attributable to Common Stockholders: $(5.72) million, reflecting the impact of the deemed dividend on Series A Preferred Stock.
• Basic and Diluted (Loss) per Common Share: $(2.62), compared to $(0.99) in the prior year, affected by the increased net loss and changes in the number of shares outstanding.

Business Highlights

• Revenue Segments: Bitmine Immersion Technologies, Inc. reported revenue from various segments including the sale of mining equipment, self-mining, consulting, and leasing. The company generated $846,347 from the sale of mining equipment, $2,814,133 from self-mining, $35,068 from consulting, and $1,074,561 from leasing during the nine months ended May 31, 2025.
• New Product Launches: The company introduced a Mining-as-a-Service (MaaS) business model, which includes hardware and infrastructure sales or leases, operational management, and financial and compliance support. This new service aims to provide end-to-end mining infrastructure and management to companies seeking direct bitcoin mining exposure.
• New Production Launches: Bitmine entered into two machine leasing agreements with KULR Technology Group, Inc., leasing a total of 3,000 ASIC miners. This expansion in leasing operations is part of the company's strategy to diversify its revenue streams.
• Consulting Services: The company entered into a consulting and services agreement with KULR, providing services related to bitcoin mining operations and treasury management. This includes managing hosting and mining pool providers, miner repairs, and offering strategic advice on bitcoin integration into corporate treasury operations.
• Future Outlook: Bitmine plans to continue expanding its MaaS offerings and consulting services, aiming to enhance its market position in the cryptocurrency mining industry. The company is also focused on optimizing its operational efficiency and exploring new revenue opportunities through strategic partnerships and service expansions.

SEC Filing: BITMINE IMMERSION TECHNOLOGIES, INC. [ BMNR ] - 10-Q - Jul. 02, 2025