Bitmine Immersion Technologies, Inc. · NYSE:BMNR
Bitmine Immersion Technologies — FY2025 Earnings Presentation
27 slides from Bitmine Immersion Technologies's earnings presentation, Nov 21, 2025
Slide 1: BMNR is Building the World's Premier Ethereum Treasury
BMNR is Building the World’s Premier Ethereum Treasury Acategory-defining digital asset platform focused on increasing ETH held per share while strengthening the Ethereum ecosystem through strategic treasury management and native protocol participation ( The Alchemy of 5% 3
Slide 2: Disclaimers
BITMINE IMMERSION TECHNOLOGIES. 2 Disclaimers oneral _Bitmine Immersion Technologies, nc. *BMNR") is making this prosetationavalabloin connoction with an update on ts business operations and statgies. The infomation contained inthis prosentation {oes not purpor tobe completo or tobe al-nclusivor to
Slide 3: Shareholder Meeting: January 15, 2026
BITMINE - BMNR. 3 Shareholder Meeting: January 15, 2026
Slide 4: Table of Contents
Table of Contents 01 Financial Results 02 Staking Update 03 Declaration of Annual Dividend 04 Progress towards alchemy of 5% Iustiatve | For Oscussion Purposes
Slide 5: Financial Results
O1 Financial Results
Slide 6: Earnings Highlights: Fiscal Full Year, August 31, 2025
BITMINE - BMINR EARNINGS HIGHLIGHTS: Fiscal Full Year, August 31, 2025 = BitMine reported full year fiscal 2025 GAAP results: Net income: $328,161,370 Fully diluted S/O Aug 31, 2025: 24,515,226 GAAP Diluted EPS: $13.39 state | For Disousion Purposes
Slide 7: Balance Sheet: As of August 31, 2025
BITMINE- BMINR BALANCE SHEET: As of August 31, 2025 ‘source: tine ‘Bitmine Immerston Technologies, Ine ‘Consolidated Balance Shes (ln thousands, except for share and per share data) ASSETS (Cash and cath oquivalents Prepaid expense Other receivables ‘otal current assets Other receivables Digital ast
Slide 8: Income Statement: Fiscal Full Year August 31, 2025
Bitmine Immersion Technologles, Ine. Consolidated Statements of Income (lo) BITMINE-BMNR (in thousands, except for share and per share data) INCOME STATEMENT: [auueuemmm fei Fiscal Full Year iain August 31, 2025 a st of ales sesmining Cox of ales hosting Con of tales consulting Cost of eles esting ‘
Slide 9: Statement of Cash Flows: Fiscal Full Year
STATEMENT OF CASH FLOWS: Fiscal Full Year, August 31, 2025
Slide 10: Staking Update: MAVAN
02 Staking Update: MAVAN
Slide 11: Staking: MAVAN Summary
BITMINE- EMNR. STAKING: MAVAN Summary = BitMine selected three top staking providers for a focused pilot to test capabilities as we advance and scale our own best-in-class, Made-in- America validator network. = Over the last few months, BitMine evaluated leading staking providers and launched a pilo
Slide 12: Staking: MAVAN Evaluation Criteria
BITMINE - BMNR 2 STAKING: MAVAN Evaluation Criteria = BitMine assessed several native staking providers who serve institutional clients across a range of criteria including: 1. Safe and secure operations 2. Performance and reward/yield generation o Ability to run dedicated infrastructure 4. Overall
Slide 13: Staking: Next Steps MAVAN
BITMINE- BMINR STAKING: Next Steps MAVAN = The Company selected 3 initial pilot partners to conduct a live test of their staking capabilities using a small portion of our ETH. The test is designed to monitor performance and further evaluate pilot member operations and service quality. = We plan to p
Slide 14: Declaration of Annual Dividend
03 Declaration of Annual Dividend
Slide 15: Dividend: Annual Dividend Declaration
BITMINE- BMINR DIVIDEND: Annual Dividend Declaration = BitMine declares annual dividend of $0.01 per BMNR share * Declaration date is November 21, 2025 = Ex-dividend date is December 5, 2025 = Record date is December 8, 2025 = Payable date is December 29, 2025 Inusratve | For Dscussion Purposes
Slide 16: Dividend: Largest AI/MAG7 Stocks Pay a Dividend
BITMINE - BMNR 16 DIVIDEND: 9 of 16 largest Al/MAG7 stocks pay a dividend LT™ Market Cap | Dividends Dividend Ticker Name ($ Billion) } per Share Yield 1 NVDA Nvidia Corp 4496.4 | $0.04 0.02% 2 AAPL — Apple Inc $4,0014 | $103 0.39% 3 MSFT — Microsoft Corp $3,6099 | $3.32 0.74% 4 GOOGL Alphabet Inc-C
Slide 17: Dividend: BMNR Only Large-Cap Crypto Stock to Pay Dividend
er DIVIDEND: ITMINE - BMNR v BMNR only large-cap crypto stock to pay dividend um um iManetGap1 Deadende? ipnadere Market Cap Dividends Dividend Ticker Name ($.ilion) _pershare Yield Ticker _Name (sion) perShare Yield pol assetreesany “Traditional / Crypto Exchanges seer rate _ : . 1 HOOD Robinhood M
Slide 18: Progress towards Alchemy of 5%
O04 Progress towards alchemy of 5%
Slide 19: Alchemy of 5%: ETH Holdings Now 2.9% of Total Supply
BITMINE - BNR Ft ALCHEMY of 5%: ETH holdings now 2.9% of total supply 11/16 4,000,000 10/26 2.9% 2.7% 3.0% 3,500,000 2.5% 3,000,000 2,500,000 2% 2,000,000 15% 1,500,000 BMNR ETH Holdings 1.0% 1,000,000 0.5% BMNR ETH Holdings as % Total ETH Supply 500,000 0 0.0% 2 2 © & » OD > OD Gh © O ty gy Ge © wr
Slide 20: Our Mission + Philosophy
BITMINE- BMINR Our Mission + Philosophy Our goal is to increase shareholder value by acquiring ETH in our treasury and increasing the ETH held per share and to achieve a 5% stake in the Ethereum network Ethereum may see exponential growth driven by the “ChatGPT” moment in crypto as stablecoins have
Slide 21: The BitMine Story - Exponential Growth
BITMINE - BMNR. a The BitMine Story - Exponential Growth $0 $15MM $250MM $11,800MM Mining Equipment Bitcoin Ethereum Crypto + Treasury Cash June 2025 July 2025 Present Dolla value represents approximate vals of BNR treasury trough time Inusratve | For Dscussion Purposes
Slide 22: Our Partners in Exponential Growth
BITMINE- BMINR 2 Our Partners in Exponential Growth mozavyx 04 [Ml] panrers m«Kraken GSR FALCONX <G ©) galaxy NY Awe @ FOUNDERS FUND Inusratve | For Dscussion Purposes
Slide 23: We Study The Greats
BITMINE - BMNR. os We Study The Greats ... 43 ¢ 1. Customer Obsession 2. Great Art = Alchemy 3. Innovate Relentlessly ‘Stove Jobs - Creator Leonardo Da Vinci - Artist ‘Nikola Tesla - Inventor Iustiatve | For Oscussion Purposes
Slide 24: To Deliver Shareholder Value
BITMINE - BMINR 2 ... TO Deliver Shareholder Value ® Bitmine = n/1 Scale Tactics Mission ¢ N {5% of ETH | ustratve | For Discussion Purposes
Slide 25: Led by Our Chairman Thomas J. Lee, CFA
BITMINE- BMINR Led by Our Chairman Thomas J. Lee, CFA 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 year
Slide 26: Roadmap - Looking Ahead
BITMINE - BMNR. 28 Roadmap - Looking Ahead = Artwork and Culture ethereu foundation! IL ‘Select investments Governance and in bold ideas that enhance Technology Ethereum Network Value («1% Treasury) like Google “Other Bets” Made in America Community BitMine 5% of the Ethereum Validator Network Parti
Slide 27: Thank You!
Thank You!
Bitmine Immersion Technologies — FY2025 Earnings Presentation on 6ix