BitMine Immersion Technologies, Inc. (NYSE American: BMNR) is engaged in Bitcoin mining, equipment hosting, and digital asset management. The company operates four mining facilities—two in Texas and two in Trinidad and Tobago—positioned in regions with low-cost energy to optimize operational efficiency and profitability. Its business model encompasses proprietary Bitcoin mining, third-party hosting services, hardware sales, and advisory offerings related to Bitcoin and Ethereum treasury management. Recent milestones include appointing Tom Lee, Co-founder of Fundstrat, as Chairman, as well as establishing partnerships with organizations such as MOZAYYX, Founders Fund, and Pantera Capital.
Let us explain.
BitMine’s principal innovation lies in its immersion cooling technology, which replaces conventional air-cooling systems and achieves Power Usage Effectiveness (PUE) as low as 1.05—substantially lower than the 1.5 typical for air-cooled configurations. This advancement results in a 25–30% increase in hashrate, enables nearly silent operation, and lowers energy consumption, establishing BitMine as a leader in sustainable cryptocurrency mining. The company currently manages 50 megawatts of hosting capacity and plans to expand significantly throughout North America and the Caribbean. BitMine utilizes a dual-revenue strategy that integrates self-mining with ASIC hardware leasing agreements, thereby reducing capital expenditure while facilitating operational growth. Strategic alliances with prominent ASIC manufacturers and custody partners such as BitGo and Fidelity Digital further reinforce operational dependability. Moreover, BitMine provides comprehensive data center services—including power distribution, rack infrastructure, and proprietary thermodynamic management—and has expanded into Bitcoin treasury advisory services for both public and private sector clients. While not currently profitable the company could generate close to $5 million in revenue this year, up substantially from 2024.
There’s nothing like a little volatility.
As of July 11, 2025, BMNR’s 52-week share price range is $1.93 to $161.00, with a recent closing price of $40.62. Share price volatility increased following BMNR’s announcement in July 2025 of a $2 billion equity offering for crypto treasury expansion. The company entered into a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co. and ThinkEquity LLC, permitting the sale of common stock over time. After the announcement, shares declined by 20% on July 10, extending a previous 40% decrease from the day before. This development occurred after the completion of a $250 million private placement led by MOZAYYX and including Founders Fund, Pantera, FalconX, and Thomas Lee, who was appointed Chairman of the Board. The company intends to use the proceeds mainly to acquire Ethereum (ETH) as its primary treasury reserve asset, aiming to increase ETH holdings by more than 16 times and become one of the largest publicly listed ETH holders. This strategy, based on MicroStrategy’s Bitcoin treasury model, is designed to support activities related to Ethereum protocols such as staking and DeFi.
Looking for the green in green.
BitMine is environmentally responsible by aiming for carbon neutrality through the use of immersion cooling and exploring renewable energy options to reduce emissions. The company operates in competition with Argo Blockchain, MARA Holdings, and Bit Digital, and distinguishes itself by its adoption of immersion cooling technology and a shift toward an Ethereum treasury.
Conclusion.
BitMine Immersion Technologies is establishing itself in blockchain with its unique, sustainable architecture and Ethereum-focused treasury. Led by Tom Lee, BitMine stands out for cost-efficient operations and is well-positioned to benefit from Ethereum’s growth.
