Bitmine Immersion Technologies, Inc. · NYSE:BMNR
Bitmine Immersion Technologies — Investor Presentation (October 2025)
20 slides from Bitmine Immersion Technologies's investor presentation, Oct 30, 2025
Slide 1: Ethereum: The Foundation of the New Financial System
BitMine Ethereum: The Foundation of the New Financial System Jonathan Bates, CEO - BitMine Immersion Technologies, Inc. (BMNR)
Slide 2: Disclaimers
Disclaimers CGoneral Stine immersion Technologies, ne. (‘SMR or the“ Company”) is making this presentation aval in connection with an upat onthe Companyardthendustisin whichit ‘operates. Thoinormation conanedin ths presentation does ot purpa To be completo to beal-ncisve oo conan al ote normation th
Slide 3: Agenda
Crypto's Shift What is Ethereum? Stablecoins, Tokenization, & Al Agenda Ethereum Exposure The Institutional Vehicle Superior Execution The Road Ahead
Slide 4: Crypto's Shift: From Boom/Bust to Institutional Adoption
Crypto's Shift: From Boom/Bust to Institutional Adoption We believe that digital assets are rapidly maturing into a legitimate asset class thanks to recent policy shift from adversary to industry ally © ETF Approvals © SEC's Project Crypto Watershed moment that increased access Highlighting the shif
Slide 5: What is Ethereum?
What is Ethereum? Bitcoin = "Digital Gold" Scarce, sovereign-neutral store of value Ethereum = Digital Oil and the Digital Infrastructure The fuel and foundation of the digital financial system Every on-chain transaction consumes ETH, making it both utility and collateral for the entire on-chain wor
Slide 6: Stablecoins: Crypto's ChatGPT Moment
Stablecoins: Crypto's ChatGPT Moment Digital dollars powering payments, trading, and tokenization, while anchoring U.S. dominance on the blockchain ‘* $3006 market today => $2T potential according to Treasury Secretary Scott Bessent* © Genius Act mandates stablecoins hold permitted reserves 1:1. ‘*
Slide 7: Treasury Secretary Bessent says Trump's crypto push will lock in dollar supremacy
&) THE BLOCK Treasury Secretary Bessent says Trump's crypto push will lock in dollar supremacy By: RT Watson - June 18, 2025 BitMine 6¢ Stablecoins could reinforce dollar supremacy because stablecoins could end up being one of the largest buyers of U.S. Treasuries. 0 MQ} Treasury Secretary Scott Bes
Slide 8: Tokenization: Wall Street 2.0
Tokenization: Wall Street 2.0 Finance is going on-chain. Ownership of every asset class from stocks and bonds, to real estate, private BlackRock |) —J.PMorgan credit, and fine art is being rebuilt on blockchain rails. HUBS @switt VISA Bshority joys SB” >eny ~ Efficiency Revolution @ Robinhood @ yee
Slide 9: Robinhood CEO: Tokenization is a Freight Train Heading for Traditional Finance
(3) COINCENTRAL ¢ Crypto and traditional finance have been living in separate . worlds, but they'll fully merge. Robinhood CEO: DRIES Tokenization is a In the future, everything will be "Freight Train" on chain in some form, and Heading for the distinction will disappear. ,, Traditional Finance Vlad
Slide 10: AI x Crypto
sitMine Al x Crypto Al agents are coming - autonomous systems that will buy, sell, negotiate, and deliver services on our behalf. © These agents will likely increase demand for instant, permissionless payment rails that can transact 24/7 without human or institutional intermediaries Crypto provides
Slide 11: Smart Contracts get Smarter: How AI Agents are Changing the Blockchain Space
&) THE BLOCK Smart Contracts get Smarter: How Al Agents are Changing the Blockchain Space By: Vishal Chawla - December 25, 2024 BitMine 6 An Al agent on a blockchain is essentially a smart contract that can execute decisions independently, based on data, without human approval. ”
Slide 12: Ethereum Exposure Options
q & SB & BitMine Ethereum Exposure Options Self-Custody Buy through exchanges such as Coinbase, Gemini, Kraken Risk of hack if coins are held on exchanges Risk of technical error if utilizing cold storage Not likely to take advantage of staking yield unless highly sophisticated crypto operator &’® 6
Slide 13: Digital Asset Treasuries: The Institutional Vehicle
Digital Asset Treasuries: The Institutional Vehicle A Digital Assot Treasury (DAT) isa public company that: e Leverages strategic capital markets activities to raise funds and accretively grow its treasury holdings (2) Executes sophisticated network staking operations to further compound assets on i
Slide 14: Leveraging Capital Markets: The Flywheel of Treasury Growth
Leveraging Capital Markets: The Flywheel of Treasury Growth 6 Issue shares via ATM with stock trading at mNAV premium CB) Share issuance provides funds to accumulate treasury assets @ Asset purchases increase treasury's NAV/share BitMine
Slide 15: Treasury flywheel drivers
B sitmine Base level of assets held on the balance sheet Treasury holds a productive asset that can earn yield, further compounding assets held Market rewards those that have shown they can grow ETH/share more aggressively than others Investors pay a premium for the ability to get into and out of th
Slide 16: The Institutional Choice
The Institutional Choice Some institutions have mandate constraints that limit their ability to buy crypto outright or buy ETF's and may seek listed vehicles for exposure. When it comes to gaining Ethereum exposure, managers will likely look for a pure play, with deep liquidity, that has shown aggre
Slide 17: BMNR's Superior Execution
BMNR's Superior Execution ‘J Grown treasury value from $16M in me Teasuryvotve (8) June 2025 to $13B+ as of October 2025* vet Tokens </ Ethereum accumulation has reached 3M+ tokens through prudent and strategic market operations* tH Tokens ~Y Achieved deep liquidity, averaging sao0 ~50M shares trade
Slide 18: The Road Ahead
The Road Ahead Alchemy of 5% Staking Program © Continuing towards ourgoal Meticulously planning our © Ourway of investing in and of accumulating 5% of the staking program supporting the evolution of Ethereum network © Aiming for yield of 3-4% on the Ethereum network © Current holdings of 3.24M ETH h
Slide 19: The Future Runs on Ethereum
The Future Runs on Ethereum Ethereum is the foundation of the new financial system BitMine is a leading institutional vehicle for Ethereum exposure Stewards of Ethereum's Evolution BitMine 2D) Powering stablecoins, tokenization, and Al's digital economy Rapidly expanding ETH/share as sophisticated a
Slide 20: BitMine - Jonathan Bates, Chief Executive Officer
B) BitMine Jonathan Bates Chief Executive Officer BitMine Immersion Technologies, Inc. (NYSE: BMNR)
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