Bitmine Immersion Technologies, Inc. · NYSE:BMNR
Bitmine Immersion Technologies — Investor Presentation (June 2025)
30 slides from Bitmine Immersion Technologies's investor presentation, Jun 30, 2025
Slide 1: Ethereum Treasury Opportunity Discussion Materials
Ethereum Treasury Opportunity Discussion Materials NYSE American: BMNR June 2025 All Investors should review and consider the risk factors, as outlined in the Securities Purchase Agreement and Instruction Packet before investing DRAFT FOR DISCUSSION PURPOSES
Slide 2: Confidentiality and Forward-Looking Statements
Confidentiality This presentation and the information contained herein are confidential and have been prepared solely for informational purposes. By attending or receiving this presentation, you agree that you will not distribute, disclose, or use the information contained herein for any purpose other
Slide 3: Important Disclaimers and Cautionary Information
Important Disclaimers and Cautionary Information Nothing in this document should be read as a solicitation for investment or a business transaction. This document is for information and or for exploratory purposes only. No warranty is made as to the accuracy or mutability of any information shared.
Slide 4: Important Disclaimers and Cautionary Information
Important Disclaimers and Cautionary Information This presentation contains information provided in good faith, with no warranty of accuracy or timeliness. This presentation will not be updated to reflect updated information and we are under no obligation to do so. Risks to contemplate include but ar
Slide 5: Summary of U.S. Federal Income Tax Consequences
The following discussion is a summary of the material U.S. federal income tax consequences to U.S. persons that intend to transfer ETH or cash to the issuer in exchange for common stock of the issuer (the “PIPE Transaction”). This discussion is not a complete analysis of all potential U.S. federal i
Slide 6: Section 351 Tax Treatment Discussion
Section 351 of the Code provides that no gain or loss will be recognized if property is transferred to a corporation by one or more persons solely in exchange for stock in such corporation and immediately after the exchange such person or persons are in control (as defined in Section 368(c) of the Co
Slide 7: Table of Contents
7 01 Introduction 02 Opportunity Overview 03 Ethereum Thesis Strictly Confidential | Not for Distribution | For Discussion Purposes Only Table of Contents
Slide 8: Introduction
8 01 Introduction
Slide 9: Executive Summary
9 BITMINE IMMERSION TECHNOLOGIES Executive Summary PIPE Transaction accelerates Company’s transition to Ethereum acquisition and management The Company currently holds $16MM of BTC 1 and post - PIPE it is expected the Company will hold approximately $[200]MM of ETH net of fees, expenses and corporat
Slide 10: Key Considerations: 1.1x mNAV Investor Entry Price
m NAV 1.1x Investor entry price 1 Key Considerations 10 BITMINE IMMERSION TECHNOLOGIES 1. Based on a $[200]MM offering at $4.50 per share. Assumes $[8.8]MM in transaction fees, ~$[16]MM of NAV on balance sheet prior to transaction, 6.2MM existing shares and [40]MM new PIPE shares. Excludes anti - di
Slide 11: Offering Overview - PIPE Transaction
BitMine Immersion Technologies, Inc. (NYSE American:BMNR) Issuer Private Placement of Common Shares (PIPE) Offering Type $[200,000,000] Offering Amount ThinkEquity Placement Agent Cantor Fitzgerald Financial Advisor to Lead MOZAYYX Management Lead Investor Thomas (Tom) Lee of Fundstrat expected to b
Slide 12: Our Mission
Our Mission 12 BITMINE IMMERSION TECHNOLOGIES 1 Pursue the intelligent acquisition of Ethereum and hold it safely and securely 2 Increase per share holdings over time through accretive capital markets transactions and proof - of - stake rewards 3 Strictly Confidential | Not for Distribution | For Dis
Slide 13: Strategy and Our Differentiation
Strategy Laser - focused KPI: long - term shareholder value through stock price appreciation and crypto - per - share Structure Simplified company structure, pursuing potential Section 351 Tax efficient exchange, optimized to pursue reward - based staking Partners Best - in - Class, institutional gra
Slide 14: Management and Board of Directors
14 Strictly Confidential | Not for Distribution | For Discussion Purposes Only BITMINE IMMERSION TECHNOLOGIES Management and Board of Directors Jonathan Bates CEO & Current Chairman Raymond Mow CFO Michael Maloney Director Lori Love Director Jonathan, a former Managing Director at J.P. Morgan Securit
Slide 15: Thomas J. Lee, CFA, Chairman of the Board
NEW APPOINTMENT Thomas J. Lee, CFA Chairman of the Board Thomas Lee is a Managing Partner and the Head of Research at Fundstrat Global Advisors. He is an accomplished Wall Street strategist with over 25 years of experience in equity research, and has been top ranked by Institutional Investor every y
Slide 16: Top Tier Custody, Staking and Rails Partners
16 BITMINE IMMERSION TECHNOLOGIES FalconX is a pioneering team of operators, investors, and builders committed to revolutionizing institutional access to the crypto markets. Operating at the intersection of traditional finance and cutting - edge technology, FalconX addresses the industry's foremost c
Slide 17: Potential Tax-Deferred Transaction: Section 351 Exchange
PIPE investors contribute ETH, USD, and potentially BTC TREASURY 17 BITMINE IMMERSION TECHNOLOGIES Potential Tax - deferred transaction 1 Section 351 of the U.S. Internal Revenue Code allows for a taxpayer to defer capital gains taxes when they transfer property (such as Bitcoin or Ethereum) to a co
Slide 18: Opportunity Overview
18 02 Opportunity Overview
Slide 19: Transformative Treasury Strategy
BitMine plans to execute on a best - in - class strategy to accumulate, hold, and compound ETH to drive value creation for shareholders Strictly Confidential | Not for Distribution | For Discussion Purposes Only 19 BITMINE IMMERSION TECHNOLOGIES Transformative Treasury Strategy • Traditional media •
Slide 20: Existing Business Overview
20 BitMine Immersion Technologies currently operates as a Bitcoin mining company, offers mining - as - a - service, and employs a BTC treasury strategy. The company intends to continue these operations while adopting the Ethereum treasury strategy. BITMINE IMMERSION TECHNOLOGIES Core business Capita
Slide 21: Investment Highlights
21 Strictly Confidential | Not for Distribution | For Discussion Purposes Only BITMINE IMMERSION TECHNOLOGIES Investment Highlights Transformation into the leading strategic Ethereum treasury company One - time upfront exchange of ETH or BTC for public shares Can preserve upside while optimizing cost
Slide 22: Go-to-Market with Tom Lee
Go - to - Market with Tom Lee 22 BITMINE IMMERSION TECHNOLOGIES Wide reach spanning traditional and social media Tom Lee is a regular guest on CNBC providing commentary that spans across both traditional finance and crypto. Tom’s firm Fundstrat has ~300 hedge fund clients and ~10,000 RIA clients Funds
Slide 23: Value Accretion Flywheel
23 BITMINE IMMERSION TECHNOLOGIES Value Accretion Flywheel 01 Network Drive multi - channel awareness of company and ETH ecosystem to increase premium to NAV 02 Strategic Issuance Ability to issue equity and debt at accretive levels to fund additional accumulation Higher Stock Price Additional purch
Slide 24: Case Study of a Hypothetical Path - Creating a Tower of ETH
24 BITMINE IMMERSION TECHNOLOGIES Case Study of a Hypothetical Path - Creating a “Tower” of ETH Price per share at 1.5x mNAV ETH NAV per share w/ $200MM raised at 1.5x mNAV Total ETH held in treasury ($MM) Note: Based on a hypothetical series of common equity raises of $200MM per raise. The actual a
Slide 25: BitMine Immersion Capitalization
25 BITMINE IMMERSION TECHNOLOGIES BitMine Immersion Capitalization Current Shares Outstanding 1 ~6.2MM Warrants 2 ~0.1MM struck at $10 Bitcoin in Treasury 3 ~$16MM Cash 4 ~$0.8MM Preferred / Converts No equity - linked debt Debt 5 $1MM 500MM Shares Authorized 1. Shares estimated as of June 24, 2025.
Slide 26: Ethereum Thesis
26 03 Ethereum Thesis
Slide 27: Ethereum: A Yield-Bearing, Institutional-Grade Treasury Asset
Ethereum: A Yield - Bearing, Institutional - Grade Treasury Asset 27 BITMINE IMMERSION TECHNOLOGIES Ethereum isn’t just a cryptocurrency - it’s the “digital settlement layer” of the global economy, with a ~$290B market cap 1 , anchoring ~$125B of stablecoins 1 , and leading in real - world - asset t
Slide 28: Ethereum: Capturing the bulk of value secured on-chain
Ethereum: Capturing the bulk of value secured on - chain 28 BITMINE IMMERSION TECHNOLOGIES Source: Artemis Strictly Confidential | Not for Distribution | For Discussion Purposes Only Ethereum is the leader in: ⇢ DeFi Total Value Locked ⇢ Fees captured ⇢ Stablecoin market cap ⇢ RWAs & tokenized assets
Slide 29: Ethereum: Leader in Securing Real-World Assets On-Chain
Strictly Confidential | Not for Distribution | For Discussion Purposes Only Ethereum: Leader in Securing Real - World Assets On - Chain 29 BITMINE IMMERSION TECHNOLOGIES Source: rwa.xyz Ethereum ZKsync Era Stellar Aptos Solana Other
Slide 30: Thank You
30 Thank Y ou
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