Bitmine Immersion Technologies, Inc. · NYSE:BMNR

Bitmine Immersion Technologies — Investor Presentation (September 2026)

95 slides from Bitmine Immersion Technologies's investor presentation, Sep 30, 2026

1. Slide 1: Crypto Bull Underway

   = Birmine ; NYSE: BMNR NYSE: BMNP Crypto Bull Underway This cycle likely the largest

2. Slide 2: Disclaimers

   BITMINE IMMERSION TECHNOLOGIES 2 Disclaimers LEGAL DISCLOSURES AND DISCLAIMERS. This presentation is being made available by Bitmine Immersion Technologies, Inc. ("BMNR" or the "Company") in connection with a business update and does not purport to be complete or to contain all information that a pr

3. Slide 3: Disclaimers

   BITMINE IMMERSION TECHNOLOGIES 3 Disclaimers CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS. This presentation contains forward-looking statements within the meaning of Section 27 of the Securities Act of 1933, as amended, and Section 21€ of the Securities Exchange Actof 1934, as amended, incl

4. Slide 4: Table of Contents

   Table of Contents Ol “Full-blown” crypto bull market underway 02 This crypto bull should be larger than past cycles 03 Bitmine outperforming ETH in each cycle

5. Slide 5: "Full-blown" crypto bull market underway

   O1 “Full-blown” crypto bull market underway

6. Slide 6: BULL: Large institutions confirming "bull market" underway

   BITMINE - BMINR BULL: Large institutions confirming “bull market” underway KR Ash Crypto & D 7c MASSIVE: £8 $1.8 Trillion Franklin Templeton’s crypto head says crypto is entering a new bull cycle. FRANKLIN <©2-TEMPLETON 9:29 AM - Sep 24, 2026 - 489.4K Views © 186 llustrative | For Discussion Purpose

7. Slide 7: TECHNICALS: Bitcoin above the 200-day moving average

   BITMINE - BMINR TECHNICALS: Bitcoin above the 200-day moving average 60000 200 dma 9—M Bitcoin - Last Price MSMAVG (200) 71156.40 2024 2025 2026 XBT Curncy (Bitcoin) XBT VBMNR Daily 27SEP2024-28SEP2026 Copyright® 2026 Bloomberg Finance LP. 27-Sep-2026 22:41:35, Source: Fundstrat, Stats are calculate

8. Slide 8: TECHNICALS: Bitcoin above the 200-day moving average

   BITMINE - BMINR TECHNICALS: Bitcoin above the 200-day moving average 200 dma 60000 \ 9M Bitcoin - Last Price MISMAVG (200) 71156.40 2026 Aug 19 2024 2025 XBT Curncy (Bitcoin) XBT vBMNR Daily 27SEP2024-28SEP2026 Copyright® 2026 Bloomber 7 >200dma Source: Fundstrat, Stats are calculated based on BMNR

9. Slide 9: TECHNICALS: Bitcoin above the 200-day moving average

   BITMINE - BMINR TECHNICALS: Bitcoin above the 200-day moving average # instances 6M 0.12 ® (% time) forward return Win-ratio oad ox *193% 80% I Above 200D Below 200D 7™ Bitcoin - Last Price Mi SMAVG (200) 71156.40 Aug 19 fan +1 0% 36% 2024 2025 2 >200 dma XBT Curncy (Bitcoin) XBT VBMNR Daily 27SEP20

10. Slide 10: TECHNICALS: Bitcoin above the 200-day moving average

    BITMINE - BMINR TECHNICALS: Bitcoin above the 200-day moving average 200 dma 60000 \ 7™ Bitcoin - Last Price Mi SMAVG (200) 71156.40 Aug 19 2024 2025 2 >200 dma XBT Curncy (Bitcoin) XBT VBMNR Daily 27SEP2024-28SEP2026 Copyright® 2026 Bloor 27-Sep-2026 22:41:35, Source: Fundstrat, Stats are calculate

11. Slide 11: TECHNICALS: Bitcoin above the 200-day moving average

    BITMINE - BMNR 11 TECHNICALS: Bitcoin above the 200-day moving average 0.2M< GM Bitcoin - Last Price MISMAVG (200) 71157.71 < 2013 2014 =. 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 XBT Curncy (Bitcoin) XBT vBMNR Daily 19JUL2012-28SEP2026 Copyright® 2026 Bloomberg Finance L.P. 27-Se

12. Slide 12: TECHNICALS: Bitcoin above the 200-day moving average

    BITMINE - BMNR 12 TECHNICALS: Bitcoin above the 200-day moving average 0.2M< 9M Bitcoin - Last Price MSMAVG (200) 71157.71 < 2013 2014 =. 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 XBT Curncy (Bitcoin) XBT vBMNR Daily 19JUL2012-28SEP2026 Copyright® 2026 Bloomberg Finance L.P. 27-Sep

13. Slide 13: TECHNICALS: Bitcoin above the 200-day moving average

    BITMINE - BMNR 13 TECHNICALS: Bitcoin above the 200-day moving average bull bull GM Bitcoin - Last Price MISMAVG (200) 71157.71 < 2013 2014 =. 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 XBT Curncy (Bitcoin) XBT vBMNR Daily 19JUL2012-28SEP2026 Copyright® 2026 Bloomberg Finance L.P. 2

14. Slide 14: ETF FLOWS: Bitcoin YTD flows are now positive = bull market

    BITMINE - BMINR ETF FLOWS: Bitcoin YTD flows are now positive = bull market Aa Eric Balchunas @ B- @€ricBalchunas tsunami of cash came in over the past month ever since Bessent said it would increase bond buying which reminded everyone that the train has no brake pedal, only gas. Chart, story via @s

15. Slide 15: Asset Performance relative to S&P since June 30, 2026

    BITMINE - BMINR Asset Performance relative to SGP 500 since June 30, 2026 6/30/26 to 9/18/26 Ethereum 4 Solana = Bitcoin @ Energy MSCI World Energy Expanded Tech-Software ETF (IGV) Silver Spot Magnificent 7 Gold Spot Healthcare MSC! World Financials Financials MSCI World Comm. Services MSC! World He

16. Slide 16: Asset Performance relative to S&P since June 30, 2026

    BITMINE - BMINR Asset Performance relative to SGP 500 since June 30, 2026 6/30/26 to 9/18/26 Ethereum 4 Solana = Bitcoin @ Energy MSCI World Energy Expanded Tech-Software ETF (IGV) Silver Spot Magnificent 7 Gold Spot Healthcare MSC! World Financials Financials MSCI World Comm. Services MSC! World He

17. Slide 17: DEMARK: Confirming Crypto bull underway

    DEMARK: Confirming Crypto bull underway We are confident Ethereum markets will continue to trade higher. When a market rallies 100% off of the low price, it is often an indication of a potential trend Tom DeMark Founder of DeMark Analytics reversal. As of Sept 28, 2026

18. Slide 18: DEMARK: Confirming Crypto bull underway

    DEMARK: Confirming Crypto bull underway We are confident Ethereum markets will continue to trade higher. When a market rallies 100% off of the low price, it is often an indication of a potential trend Founder of DeMark Analytics reversal. Tom DeMark As of Sept 28, 2026

19. Slide 19: 4-YEAR CYCLE: Predicted Bottom is October 5, 2026

    BITMINE - BMNR 19 4-YEAR CYCLE: Predicted Bottom is October 5, 2026 every cycle has run on the exact same clock and almost nobody is talking about it 2015 to 2017 -> 1,064d bull market 2017 to 2018 -> 364d bear market 2018 to 2021 -> 1,064d bull market 2021 to 2022 -> 364d bear market 2022 to 2025 -

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21. Slide 21: This crypto bull should be larger than past cycles

    02 This crypto bull should be larger than past cycles

22. Slide 22: BMNR

    BITMINE - BMNR 22 - wm llustrative | For Discussion Purposes As of Sept 28, 2026

23. Slide 23: BULL CYCLE: Why likely to be larger than other bull markets

    BULL CYCLE: Why likely to be larger than other bull markets « Tokenization is a bigger story than prior bulls « Flows: Wealth transfer + Institutions buying crypto « DATs permanent capital = amplify next bull cycle « Crypto is a downstream Al story

24. Slide 24: BULL CYCLE: Why likely to be larger than other bull markets

    BULL CYCLE: Why likely to be larger than other bull markets «= Tokenization |s a bigger story than prior bulls « Flows: Wealth transfer + Institutions buying crypto « DATs permanent capital = amplify next bull cycle « Crypto is a downstream Al story

25. Slide 25: ETH/BTC ratio: Future tailwinds of Tokenization and AI

    BITMINE - BMINR ETH/BTC ratio: Future tailwinds of Tokenization and Al Tokenization Agentic Al ICO boom 4 0.200004 ETH/BTC: NFTs 0.100004 Stablecoins 0.04238 0.03212 0,02000 4 0.01809 6010004 0.01734 0.00400. 0.00300. 0.00200. 0.0016 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 | 2026 | XETUSD

26. Slide 26: ETH/BTC ratio: Future tailwinds of Tokenization and AI

    BITMINE - BMINR ETH/BTC ratio: Future tailwinds of Tokenization and Al Tokenization Agentic Al 4 0.20000 N FTs 0.100004 Stablecoins 0.04238 0.03212 0.01734 9.01809 | 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 | 2026 | XETUSD Curncy (XET-USD Cross Rate) ETH/BTC '18 vBMNR Daily 07AUG2015-17DEC2

27. Slide 27: ETH/BTC ratio: Future tailwinds of Tokenization and AI

    BITMINE - BMINR ETH/BTC ratio: Future tailwinds of Tokenization and Al Tokenization Agentic Al ICO boom 4 0.200004 ETH/BTC: 0.100004 Stablecoins 0.04238 0.03212 0,02000 4 0.01809 0.010004 0.00400. 0.00300. 0.00200. 0.0016 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 | 2026 | XETUSD Curncy (XET-

28. Slide 28: ETH/BTC ratio: Future tailwinds of Tokenization and AI

    BITMINE - BMINR ETH/BTC ratio: Future tailwinds of Tokenization and Al Tokenization Agentic Al ICO boom 3 0.200004 ETH/BTC: NFTs 0.100004 0.03212 0,02000 4 0.01734 0.010004 0.00400. 0.00300. 0.00200. 0.0016 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 | 2026 | XETUSD Curncy (XET-USD Cross Rate)

29. Slide 29: BlackRock CEO: countries racing to launch stablecoins

    BITMINE » BMNR Al. Etherealize @ @Etherealize io - May 28 (Jour A WV BlackRock CEO Larry Fink: Countries are racing to launch their own stablecoins “Every member of our government needs to wake up to the idea that these deficits are threatening our future and the value of the dollar. Let’s be clear,

30. Slide 30: Robinhood CEO on crypto and real-world assets

    BITMINE : BMNR. COIN Coin Bureau @ @coinbureau - Jul 6 [Jour aaa (@ BULLISH: ROBINHOOD CEO EXPLAINS WHY CRYPTO IS THE FUTURE “| believe that the future of crypto is in real-world assets.” “If an asset is not tied to an underlying utility, it’s not a productive asset.” “Everything that is running on

31. Slide 31: TOKENIZATION: $200 trillion of liquid assets tokenized

    BITMINE - BMINR TOKENIZATION: $200 trillion of liquid assets tokenized Figure 3: The equity market value was USD 99.3 trillion at Q1 2026 == STATE STREET. = INVESTMENT MANAGEMENT. 31 Global Market Portfolio 2026 GMP USD Value _ Weights (%) © Equity $99.3T 45.0 Government bonds $43.6T 19.8 @ IG credi

32. Slide 32: TOKENIZATION: $200 trillion of liquid assets tokenized

    BITMINE - BMINR 32 TOKENIZATION: $200 trillion of liquid assets tokenized == STATE STREET. Figure 3: The equity market value was USD 99.3 trillion at Q1 2026 = INVESTMENT MANAGEMENT Global Market Portfolio 2026 GMP USD Value _— Weights (%) © Equity $99.3T 45.0 J t t p 3 — @ Government bonds $43.6T 1

33. Slide 33: ETHEREUM: Wall Street favors Ethereum

    BITMINE - BMINR ETHEREUM: Wall Street favors Ethereum * Major tokenizations wins: - Blackrock BUIDL - JPMorgan MONY - Securitize continues to primarily use Ethereum - Ondo Finance primarily launches on Ethereum = Layer 2 wins: - Robinhood chose to build on Arbitrum, Ethereum is security layer - Coin

34. Slide 34: ETHEREUM: Wall Street favors Ethereum

    BITMINE - BMINR ETHEREUM: Wall Street favors Ethereum * Major tokenizations wins: - Blackrock BUIDL - JPMorgan MONY - Securitize continues to primarily use Ethereum - Ondo Finance primarily launches on Ethereum = Layer 2 wins: - Robinhood chose to build on Arbitrum, Ethereum is security layer - Coin

35. Slide 35: ETHEREUM: Largest developer ecosystem

    BITMINE - BMINR ETHEREUM: Largest developer ecosystem B DEVELOPER REPORT ay by ELECTRIC! CAPITAL As of Feb 9, 2028 EVM Stack « Ethereum ® Bitcoin = Solana SVM Stack ®) Stellar ®) Polkadot Network Stack =< Cosmos ® Polygon ¢°s Polkadot Arbitrum Exceeds all 35

36. Slide 36: ETH/BTC ratio: Future tailwinds of Tokenization and AI

    BITMINE - BMINR ETH/BTC ratio: Future tailwinds of Tokenization and Al ICO boom 4 5 0.20000 ETH/BTC: NFTs 0.10000 4 Stablecoing 0.04238 0,02000 4 0.01809 6010004 0.01734 0.00400. 0.00300. 0.00200. 0.0016 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 XETUSD Curncy (XET-USD Cross Rate) ETH/BT

37. Slide 37: BULL CYCLE: Why likely to be larger than other bull markets

    BULL CYCLE: Why likely to be larger than other bull markets « Tokenization is a bigger story than prior bulls ( « Flows: Wealth transfer + Institutions buying crypto ) « DATs permanent capital = amplify next bull cycle « Crypto is a downstream Al story

38. Slide 38: WEALTH: $100 trillion of wealth transfer underway

    WEALTH: $100 trillion of wealth transfer underway WOLF Terminal @ @ Bo @WOLF Terminal VLAD TENEV SAYS A $100 TRILLION WEALTH TRANSFER IS UNDERWAY He thinks technology can make private wealth services accessible to a much broader group of investors: HOOD C. TH TR ING ITS CEO 1:00 AM - Sep 24, 2026 -

39. Slide 39: INHERITANCE: Accelerated pace of inheritance in USA

    BITMINE - BMINR INHERITANCE: Accelerated pace of inheritance in USA Annual inheritance, per IRS ($ billions) 2019 2020 2021 2022 2023 2024e 2025e 2026e [a 147 113 171 EE 237 i 347 (425 550 a 675 Source: IRS (link) and 2024 to 2026 estimates per Fundstrat Research

40. Slide 40: INHERITANCE: Accelerated pace of inheritance in USA

    BITMINE - BMNR 40 INHERITANCE: Accelerated pace of inheritance in USA Annual inheritance, per IRS ($ billions) Make sense why oe yl equities strong 2021 | 171 since 2023? 2022 | 237 Source: IRS (link) and 2024 to 2026 estimates per Fundstrat Research

41. Slide 41: WEALTH: Millennials likely to rotate away from Private Equity/Debt

    BITMINE - BMNR a1 WEALTH: Millennials likely to rotate away from Private Equity/Debt Figure 3: The equity market value was USD 99.3 trillion at @12026 = STATE STREET. Seen GMP USD Value Weights (%) © Equity $99.3T 45.0 1 Government bonds $43.6T 19.8 i IG credit $18.9T 8.5 Gold $13.5T 61 Private equi

42. Slide 42: WEALTH: Millennials likely to rotate away from Private Equity/Debt

    BITMINE - BMINR 42 WEALTH: Millennials likely to rotate away from Private Equity/Debt Figure 3: The equity market value was USD 99.3 trillion at Q1 2026 == STATE STREET. => INVESTMENT MANAGEMENT Global Market Portfolio 2026 GMP USD Value Weights (%) © Equity $99.3T 45.0 l@ Government bonds $43.6T 19

43. Slide 43: Asset Performance relative to S&P since June 30, 2026

    BITMINE - BMINR Asset Performance relative to SGP 500 since June 30, 2026 6/30/26 to 9/18/26 Ethereum 4 Solana = Bitcoin @ Energy MSCI World Energy Expanded Tech-Software ETF (IGV) Silver Spot Magnificent 7 Gold Spot Healthcare MSC! World Financials Financials MSCI World Comm. Services MSC! World He

44. Slide 44: BULL CYCLE: Why likely to be larger than other bull markets

    BULL CYCLE: Why likely to be larger than other bull markets « Tokenization is a bigger story than prior bulls Flows: Wealth transfer + Institutions buying crypto ( = DATs permanent capital = amplify next bull cycle ) Crypto is a downstream Al story

45. Slide 45: DATS: Friends of crypto in a bull market

    BITMINE - BMINR DATS: Friends of crypto in a bull market As of Sept 28, 2026 Source: Fundstrat, Bloomberg

46. Slide 46: Are DATs worth holding?

    BITMINE - BMINR DWF Ventures % Jou vem @DWF Ventures Are DATs worth holding? Illustrative | For Discussion Purpas

47. Slide 47: Crypto Treasury Companies only trade above NAV, including BMNR

    BITMINE : BMNE Crypto Treasury Companies wey Only 4 trade above NAV, including BMNR -- li. Ln |

48. Slide 48: Purposes

    BITMINE - BMINR llustrative | For Discussion Purposes As of Sept 28, 2026

49. Slide 49: DATS: Permanently reducing supply... just before next "bull"

    BITMINE - BMINR DATS: Permanently reducing supply... just before next “bull” Nee As of Sept 28, 2026 Crypto ($ billions) Ethereum (ETH) $21.4 Bitcoin (BTC) 108.7 Solana (SOL) 2.4 Hyperliquid (HYPE) $2.8 Worldcoin (WLD) 0.1 Zcash (ZEC) 0.4 % of Network 7.0% 6.5% 3.3% 14.1% 7.5% 1.7%

50. Slide 50: DATS: Permanently reducing supply... just before next "bull"

    BITMINE - BMINR DATS: Permanently reducing supply... just before next “bull” Crypto % of ($ billions) Network Ethereum (ETH) 7.0% Bitcoin (BTC) 108.7 6.5% NI Oe Solana (SOL) 2.4 3.3% Hyperliquid (HYPE) $2.8 14.1% Worldcoin (WLD) 0.1 7.5% Zcash (ZEC) 0.4 1.7% As of Sept 28, 2026

51. Slide 51: BULL CYCLE: Why likely to be larger than other bull markets

    BITMINE - BMINR BULL CYCLE: Why likely to be larger than other bull markets « Tokenization is a bigger story than prior bulls Flows: Wealth transfer + Institutions buying crypto DATs permanent capital = amplify next bull cycle ( = Crypto is a downstream Al story )

52. Slide 52: ETHEREUM: Downstream to AI trade

    BITMINE - BMINR ETHEREUM: Downstream to Al trade 2004 1504 100 SMH Normalized As Of 05/27/20 Ml Vanck Semiconductor ETF ~ Last 6000-4 5000-4 = 3000-4 2000-4 1000-4 o4 DRAM Normalized As Of 07/17/2025 Ml Sandisk Corp - Last Price 412+ 2404 2204 200-4 180-4 160-4 1204 100 so 0-4 MAGS 240-4 22044 200-4

53. Slide 53: ETHEREUM: Downstream to AI trade

    BITMINE - BMINR ETHEREUM: Downstream to Al trade 53 SMH DRAM MAGS IGV ETH 7) 6000-4 240-4 240-4 250-4 = 5000-4 220-4 20-4 200-4 200-4 =z, 200-4 1804 1804 200-4 3000-4 1604 1604 220 1404 1504 2000-4 Lo 204 12044 1000-4 100 100 20-4 Normalized As Of 05/27/20 OJ Normalized As OF 07/17/2025 Normalized A

54. Slide 54: "This is the grand unification of AI and crypto"

    BITMINE - BMINR "This is the grand unification of Al and crypto. Al agents are going to need money. " Marc Andreessen (founder of a16z) Source: Fundstrat Qn eD:. This, singlehandedly, is why I'm still bullish on crypto. If you don't believe me, listen to Marc Andreessen (founder of at6z - the world'

55. Slide 55: AI: AI agents can bypass "captcha"

    BITMINE - BMINR Al: Al agents can bypass “captcha” watching ai agents bypass the "im not a robot" captcha is pretty metai must say 7:36 PM - Sep 24, 2026 - 405K Views O 215 ties OC 11K [J 25 {> tse a 2 o- @blknoiz06 llustrative | For Discussion Purpose

56. Slide 56: AI: Keep humans in the loop

    BITMINE - BMNR 56 Al: Keep humans in the loop Send unauthorized emails « Take over our bank accounts « Take over our social media « Take control of our assets « Get us fired « Alcreates its own banking system llustrative | For Discussion Purposes As of Sept 28, 2026

57. Slide 57: BMNR

    BITMINE - BMNR 87 - wm llustrative | For Discussion Purposes As of Sept 28, 2026

58. Slide 58: Bitmine outperforming ETH in each cycle

    O03 Bitmine outperforming ETH in each cycle

59. Slide 59: ALCHEMY OF 5%: BMNR steadily advancing toward its 5% target

    BITMINE - BMINR ALCHEMY OF 5%: BMNR steadily advancing toward its 5% target 3 Bitmine —ETHOwned @ KeyMilestone 4 million 6 million Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2025 2025 2025 2025 2025 2025 2026 2026 2026 2026 2026 2026 2026 2026 2026 llustrative | For Discussion Purpo

60. Slide 60: ALCHEMY OF 5%: BMNR steadily advancing toward its 5% target

    BITMINE - BMINR ALCHEMY OF 5%: BMNR steadily advancing toward its 5% target 3 Bitmine —ETHOwned @ KeyMilestone 4 million Took 15 months Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2025 2025 2025 2025 2025 2025 2026 2026 2026 2026 2026 2026 2026 2026 2026 llustrative | For Discussion

61. Slide 61: ALCHEMY: Bitmine priorities as we near 5% of ETH

    ALCHEMY: Bitmine priorities as we near 5% of ETH = Maintain maximum exposure to ETH in this bull market = Optimize shareholder return « Leverage substantial scale to optimize opportunities in tokenization and Ethereum ecosystem

62. Slide 62: ALCHEMY: Bitmine priorities as we near 5% of ETH

    ALCHEMY: Bitmine priorities as we near 5% of ETH «= Maintain maximum exposure to ETH in this bull market «= Optimize shareholder return « Leverage substantial scale to optimize opportunities in tokenization and Ethereum ecosystem

63. Slide 63: ETHEREUM: Exiting a long consolidation

    BITMINE - BMNR 63 ETHEREUM: Exiting along consolidation $4,626 5 ; ; r ; ; , : ; : r 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 ‘Source: Fundstrat, Bloomberg, coinmarketcap llustrative | For Discussion Purposes

64. Slide 64: ETHEREUM: Exiting a long consolidation

    BITMINE - BMINR ETHEREUM: Exiting along consolidation 54x 8192 227X $4,626 $1,366 r r T T T 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Source: Fundstrat, Bloomberg, coinmarketcap llustrative | For Discussion Purpose 64

65. Slide 65: ETHEREUM: Exiting a long consolidation ~25x?

    BITMINE - BMNR Projected 5 ETHEREUM: Exiting a long consolidation ~25x? 54x agentic Al 8192 227x yee tokenization $1,366 J 2,700 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 ‘Source: Fundstrat, Bloomberg, coinmarketcap llustrative | For Discussion Purposes

66. Slide 66: BMNR: Stock price historically follows ETH price

    BITMINE BMNR BMNR: Stock price historically follows ETH price legend 4 Track Annotate ©, Zoom h Select ( Copy ticker: {3 BMNR BMNR US Equity & 2800 3000 3200 3400 3600 3800 4000 4200 4400 4600 4800

67. Slide 67: BMNR: Stock price historically follows ETH price

    anne ane ~BMNR: Stock price historically follows ETH price 5 ** Coefficient: WY 0.015 * ETH + ETH/share accretion

68. Slide 68: BMNR stock price scenarios at ETH price levels

    anme one ~BBMNR: Stock price historically follows ETH price Bmnr: $4,000-$5,000 $4000 - $5,000 BMNR: $1,200-1,500 $1,50' BMNR: $300-500 $250,000 $62,500 $22,000 uarantees of future stock

69. Slide 69: ALCHEMY: Bitmine priorities as we near 5% of ETH

    ALCHEMY: Bitmine priorities as we near 5% of ETH = Maintain maximum exposure to ETH in this bull market C «= Optimize shareholder return ) « Leverage substantial scale to optimize opportunities in tokenization and Ethereum ecosystem

70. Slide 70: DATS: DATS track the price of treasury asset

    BITMINE - BMINR DATS: DATS track the price of treasury asset As of Sept 28, 2026 Source: Fundstrat, Bloomberg ... Up or down

71. Slide 71: DATS: DATS track the price of treasury asset... up or down

    DATS: DATS track the price of treasury asset... up or down llustrative | For Discussion Purposes

72. Slide 72: Outperformed ETH by 53,500bp since inception

    BITMINE - BMINR BITMINE: Outperformed ETH by 53,500bp since inception 2025 June 30 to Dec 31 Outperforms +48,100bp eeu I 22 3 Bimine es 503

73. Slide 73: BITMINE: Outperformed ETH by 53,500bp since inception

    BITMINE - BMNR 73 BITMINE: Outperformed ETH by 53,500bp since inception 2025 2026 June 30 to Dec 31 Year to date Outperforms Outperforms +48,100bp §_ + 1,200bp ercun 22 | | I 1 I I 1 I l) Bitmine 3 EE 503

74. Slide 74: Outperformed ETH by 53,500bp since inception

    BITMINE - BMINR BITMINE: Outperformed ETH by 53,500bp since inception LN Ethereum Vv {3 Bitmine 2025 June 30 to Dec 31 Outperforms +48,100bp 2026 Year to date Outperforms +1,200bp Since inception June 2025 to now Outperforms +53,500bp

75. Slide 75: BITMINE: Achievements in first year of operations

    BITMINE - BMNR 78 BITMINE: Achievements in first year of operations Reached 6.0 million ETH, 4.9% of the ETH supply Launched MAVAN, the largest single-staker operator in the world Partnering with Ethereum foundation 2.0 Set benchmark for ETH credit by issuing $BMNP, ETH perpetual preferred Largest c

76. Slide 76: Achievements in first year of operations

    BITMINE - BMINR BITMINE: Achievements in first year of operations = Reached 6.0 million ETH, 4.9% of the ETH supply = Launched MAVAN, the largest single-staker operator in the world = Partnering with Ethereum foundation 2.0 * Set benchmark for ETH credit by issuing $BMNP, ETH perpetual preferred (=

77. Slide 77: BUYBACK: ~21 million shares, of $4 billion authorized

    BITMINE - BMINR BUYBACK: ~21 million shares, of $4 billion authorized : | hihi i h thy ! ih ; i | I 20 | i uy ii al at il i 4 f | i Sy lt ali i i | all ‘ha yt 15 iis si . Jan Feb Mar Apr May Jun Jul ‘Aug Sep BMNR US Equity (BitMine Immersion Technologies Inc) 6 month BMNR vBMNR Daily 31DEC2025-28SEP

78. Slide 78: BUYBACK: ~21 million shares, of $4 billion authorized

    BITMINE - BMNR 78 BUYBACK: ~21 million shares, of $4 billion authorized 30 i I hy | | | fi ° a } ! yith ful | \ | . uy al ye | Mints HW uh iy ! ty Ail 15 Th H tt i,t } July 14, 2026: |, jhe" . Buyback commences Jan Feb Mar Apr May Jun Jul Aug Sep BMNR US Equity (BitMine Immersion Technologies Inc) 6

79. Slide 79: BUYBACK: ~21 million shares, of $4 billion authorized

    BITMINE - BMINR BUYBACK: ~21 million shares, of $4 billion authorized l, . i . { 2 mh 25 i | hi \ | jit an } i I 20 Wh hl a en " i ye it ! Wl i he ; h wit Aug 17, 2026: . Tg k eal | Completes 21mm shares July 14, 2026: },,! . Buyback commences Jan Feb Mar Apr EN Jun Jul Aug Sep BNNR US Equity (BitMi

80. Slide 80: BITMINE: Achievements in first year of operations

    BITMINE - BMNR 80 BITMINE: Achievements in first year of operations = Reached 6.0 million ETH, 4.9% of the ETH supply = Launched MAVAN, the largest single-staker operator in the world = Partnering with Ethereum foundation 2.0 € Set benchmark for ETH credit by issuing $BMNP, ETH perpetual preferred )

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Bitmine Immersion Technologies — Investor Presentation (September 2026) on 6ix