Welcome to our dedicated page for Bitmine Immersion Technologies news (Ticker: BMNR), a resource for investors and traders seeking the latest updates and insights on Bitmine Immersion Technologies stock.
Bitmine Immersion Technologies Inc (BMNR) delivers innovative Bitcoin mining solutions through its proprietary immersion cooling systems and ASIC hardware optimization. This news hub provides investors and industry observers with timely updates on operational milestones, technology deployments, and strategic initiatives shaping the company’s position in blockchain infrastructure.
Access comprehensive coverage of BMNR’s developments including earnings reports, facility expansions, cooling technology advancements, and partnership announcements. Our curated news collection offers insights into how the company’s immersion-cooled mining operations achieve energy efficiency ratios while maintaining competitive production costs in key regions like Texas and Kentucky.
Key updates span hardware leasing agreements, hashrate growth metrics, and sustainability initiatives tied to immersion cooling systems. Track BMNR developments through verified press releases and market analyses that contextualize the company’s approach to capital-light expansion and ASIC lifecycle management.
Bookmark this page for ongoing access to essential updates about Bitmine’s operational strategies, market responses to Bitcoin volatility, and technological innovations in cryptocurrency mining infrastructure. Stay informed through our rigorously maintained news feed designed for both active traders and long-term industry analysts.
Bitmine Immersion Technologies (OTCQX: BMNR) announced its fiscal Q1 2025 financial results.
Key highlights include a 135% increase in revenue to $1,200,830 compared to $511,308 in Q1 2024. This growth was driven by the sale of mining equipment and self-mining revenue.
The company reported a net loss attributable to common shareholders of $3,935,386, primarily due to a one-time, non-cash deemed dividend of $2,960,648 on Series A Preferred Stock. The basic and diluted loss per share was $(0.08) compared to $(0.02) in Q1 2024.
Bitmine increased its number of owned miners to 4,640 from 1,606 a year ago. Operational cash use was $(95,934) compared to $(45,290) in the previous year.
Operational updates include the purchase of 3,000 additional miners, with 2,600 installed by December, expected to triple self-mining revenue once fully operational. Approximately 400 miners are under warranty and being replaced.
BitMine Immersion Technologies (OTCQX:BMNR) reported significant growth for fiscal year 2024, with a 413% increase in annual sales. The company's bitcoin self-mining operations achieved record revenue of $3.03 million, representing a 679% year-over-year increase. BitMine is expanding its operations by deploying 3,000 new ASICs to its existing fleet of 1,640 units.
The company operates facilities in Trinidad with 1.6 Megawatts deployed (out of 100 MW available) at $0.035/kWh, and in Pecos, Texas with 5 MW capacity. BitMine has announced a share buyback program of up to $250,000 through December 31, 2025. Despite GAAP losses, net cash used in operating activities improved to $(28,753) in 2024 from $(809,715) in 2023.
BitMine Immersion Technologies (OTCQX: BMNR) has announced the purchase of 3,000 ASIC Mining Computers from Luxor Technology for $1,035,000, tripling its fleet to 4,500 machines. The acquisition, funded through a forward sale of hashrate, will increase BitMine's mining capacity from 140 to over 400 Petahash. The new machines will be deployed at locations in Texas and Trinidad starting January 2025. The company aims to achieve one Exahash throughout 2025 and plans to acquire and hold Bitcoin as financing opportunities arise.
BitMine Immersion Technologies (OTCQX:BMNR) reported significant revenue growth for Q3 2024. Revenues reached $1.225 million for the quarter, a 37% increase from the previous quarter and an 862% increase year-over-year. The company's nine-month revenue totaled $2.628 million. Gross profits also saw substantial increases, reaching $221,687 for the quarter and $649,391 for the nine-month period.
Despite revenue growth, BitMine reported net losses of ($654,228) for the quarter and ($2,478,632) for the nine months, attributed to increased non-cash depreciation, compensation expenses, and higher general and administrative costs. The company is exploring options to uplist from OTCQX to NASDAQ or NYSE/AMEX and evaluating potential mergers.
