BitMine Immersion Technologies, Inc. Completes Bitcoin Purchases from Proceeds of Offering, Now Owns 154.167 Total BTC

Core Viewpoint - BitMine Immersion Technologies, Inc. has successfully established a Bitcoin Treasury by utilizing proceeds from a recent stock offering to purchase Bitcoin, demonstrating its commitment to long-term investment in Bitcoin [1][2]. Financial Summary - The net proceeds from the recent offering of common stock amounted to approximately $16.340 million after deducting fees and expenses [1]. - The company spent $16.347 million to acquire 154.167 Bitcoin, resulting in an average purchase price of $106,033 per Bitcoin [1]. Company Overview - BitMine focuses on the accumulation of Bitcoin for long-term investment through its mining operations and capital raising transactions [2]. - The company's business lines include Bitcoin mining, synthetic Bitcoin mining, hashrate as a financial product, and advisory services related to Bitcoin [2]. - BitMine operates in regions with low energy costs, specifically in Trinidad and Texas [2].