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Share Name | Share Symbol | Market | Type |
---|---|---|---|
BitMine Immersion Technologies Inc (QX) | USOTC:BMNR | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.11001 | 20.00% | 0.66 | 0.54 | 0.669 | 0.66 | 0.54 | 0.54 | 300 | 21:15:35 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(IRS Employer Identification No.) |
(Address of principal executive office) (Zip Code)
(Registrants’ telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
None | None | None |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging
Growth Company
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
SECTION 2 – FINANCIAL CONDITION
Item 2.02 Results of Operations and Financial Condition.
On February 28, 2024, Bitmine Immersion Technologies, Inc. (the “Company”) issued a press release providing guidance on its estimated revenues from self-mining for the quarter ending February 29, 2024. The Company hereby incorporates by reference herein the information set forth in its press release dated February 28, 2024 (the “Press Release”), a copy of which is attached hereto as Exhibit 99.1.
Except for the historical information contained in this report, the statements made by the Company are forward-looking statements that involve risks and uncertainties. All such statements are subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. The Company’s future financial performance could differ significantly from the expectations of management and from results expressed or implied in the Press Release. Forward-looking statements in the Press Release are subject to certain risks and uncertainties described in the Press Release. For further information on other risk factors, please refer to the “Risk Factors” contained in Galectin Therapeutics’ Annual Report on Form 10-K for the fiscal year ended August 31, 2023, and its Quarterly Report on Form 10-Q for the quarter ending November 30, 2023, as filed with the Securities and Exchange Commission, and its subsequent filings with the SEC.
The information in this Item 2.02 is being furnished, not filed, pursuant to Item 2.02 of Form 8-K. Accordingly, the information in Item 2.02 of this report, including the Press Release attached hereto as Exhibit 99.1, will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Item No. | Description | |||
99.1 | Press Release dated February 28, 2024 | |||
104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL |
2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Bitmine Immersion Technologies, Inc. | ||
Dated: February 28, 2024 | By: | /s/ Jonathan Bates |
Name: | Jonathan Bates | |
Title: | Chief Executive Officer |
3 |
Exhibit 99.1
BitMine Immersion Technologies, Inc. Announces Revenue Guidance of Almost $1 million from Self-Mining for Fiscal Second Quarter Ending February 29, 2024
Atlanta, GA - February 28, 2024
Atlanta, February 27, 2024 - BitMine Immersion Technologies, Inc. ("BitMine" or "the Company") (OTCQX: BMNR) is pleased to announce that it expects to record record quarterly self-mining revenue of approximately $925,000-$950,000 for the quarter ending February 29, 2024.
With all three sites operational and running smoothly, BitMine was able to take advantage of increased production as well as higher Bitcoin prices in order to produce record quarterly revenue, almost tripling its previous record self-mining revenue achieved in the first quarter of fiscal 2024.
Jonathan Bates, BitMine CEO, was quoted as saying, “We are extremely proud of our progress and results. We are looking forward to further expansion at all three of these sites, where we have room to deploy more machines. We are also exploring expansion to new sites, as well as researching innovative ways to add additional self-mining revenue. We look forward to sharing our plans and progress in the near future.”
About BitMine Immersion Technologies, Inc.
BitMine is a technology company focused on Bitcoin mining using immersion technology, an advanced cooling technique where computers are submerged in specialized oil circulated to keep units operating at optimal ambient temperature. Immersion technology is more environmentally friendly than conventional mining methodologies, while lowering operating expenses and increasing yield. BitMine's operations are located in low-cost energy regions in Trinidad, Pecos, Texas, and Murray, Kentucky.
Forward-Looking Statements:
This press release contains statements that constitute "forward-looking statements." The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond BitMine's control, including those set forth in the Risk Factors section of BitMine's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on December 14, 2023, and its Quarterly Report on Form 10-Q filed with the SEC on January 12, 2024, and any other SEC filings, as amended or updated from time to time. Copies of BitMine's filings with the SEC are available on the SEC's website at www.sec.gov/edgar/searchedgar/companysearch. BitMine undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
BitMine Immersion Technologies Contact:
Jonathan Bates, Chairman and CEO
Cover |
Feb. 28, 2024 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Feb. 28, 2024 |
Entity File Number | 000-56220 |
Entity Registrant Name | BITMINE IMMERSION TECHNOLOGIES, INC. |
Entity Central Index Key | 0001829311 |
Entity Tax Identification Number | 84-3986354 |
Entity Incorporation, State or Country Code | DE |
Entity Address, Address Line One | 2030 Powers Ferry Road SE |
Entity Address, Address Line Two | Suite 212 |
Entity Address, City or Town | Atlanta |
Entity Address, State or Province | GA |
Entity Address, Postal Zip Code | 30339 |
City Area Code | (404) |
Local Phone Number | 816-8240 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | false |
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