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UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT PURSUANT TO SECTION 13 OR 15(d)
OF
THE SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): July 9, 2025
BITMINE
IMMERSION TECHNOLOGIES, INC.
(Exact
name of registrant as specified in its charter)
Delaware
(State
or other jurisdiction
of
incorporation or organization) |
|
001-42675
(Commission
File
Number) |
|
84-3986354
(IRS
Employer
Identification
No.) |
10845
Griffith Peak Dr. #2
Las
Vegas, NV 89135
(Address
of principal executive office) (Zip Code)
(404)
816-8240
(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:
☐ |
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425) |
|
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, par value $0.0001 |
|
BMNR |
|
NYSE
American LLC |
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.
Item
1.01 Entry into a Material Definitive Agreement.
On
July 9, 2025, Bitmine Immersion Technologies, Inc. (the “Company”) entered into a Controlled Equity
OfferingSM Sales Agreement (the “Sales Agreement”) with each of Cantor Fitzgerald &
Co. (“Cantor”) and ThinkEquity LLC (“ThinkEquity”) (each, an “Agent”
and together, the “Agents”), pursuant to which the Company, from time to time, at its option may offer
and sell shares (the “ATM Shares”) of its common stock, par value $0.0001 per share (the “Company
Common Stock”), to or through Cantor, acting as principal and/or the sole designated sales agent having an aggregate
sales price of up to $2,000,000,000 (the “ATM Offering”).
Subject
to the terms and conditions of the Sales Agreement, Cantor
will use its commercially reasonable efforts consistent with its normal trading and sales
practices to sell the ATM Shares from time to time, based upon the Company’s instructions. The Company has provided the
Agents with customary indemnification and contribution rights in favor of the Agents, and
the Agents will be entitled to a commission of up to 3.0% of the gross proceeds from each
sale of the ATM Shares pursuant to the Sales Agreement.
Sales
of the ATM Shares, if any, under the Agreement may be made in transactions that are deemed to be “at the market offerings”
as defined in Rule 415 under the Securities Act of 1933, as amended or by any other method permitted by law. The Company has no
obligation to sell any of the ATM Shares and may at any time suspend offers under the Sales Agreement or terminate the Sales
Agreement.
This
description of the Sales Agreement does not purport to be complete and is qualified in its entirety by reference to the Sales
Agreement, which is attached hereto as Exhibit 1.1 and incorporated by reference herein.
The
Company Common Stock to be sold under the Agreement, if any, will be issued and sold pursuant to the Company’s automatic shelf
registration statement on Form S-3 (File No. 333-288579) (the “Registration Statement”), which was filed
with the Securities and Exchange Commission (the “SEC”) on July 9, 2025, which included an “at the
market offering” prospectus covering the offer and sale of the ATM Shares pursuant to the Sales Agreement.
This
Current Report on Form 8-K shall not constitute an offer to sell or a solicitation of an offer to buy any shares of Company Common Stock
nor shall there be any sale of shares of Company Common Stock in any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The legal
opinion of Winston & Strawn LLP relating to the legality of the issuance and sale of the ATM Shares pursuant to the ATM Offering
is attached as Exhibit 5.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits.
Exhibit
No. |
|
Description |
1.1 |
|
Sales Agreement, dated as of July 9, 2025, by and among the Company, Cantor Fitzgerald & Co., and ThinkEquity LLC. |
5.1 |
|
Opinion of Winston & Strawn LLP. |
23.1 |
|
Consent of Winston & Strawn LLP (included in the opinion filed as Exhibit 5.1). |
104 |
|
The
cover page from this Current Report on Form 8-K, formatted in Inline XBRL. |
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:
July 9, 2025 |
By: |
/s/
Jonathan Bates |
|
Name: |
Jonathan Bates |
|
Title: |
Chief Executive Officer |