BitMine Immersion Technologies Inc. (NYSE American: BMNR) is a Bitcoin and Ethereum network company focused on long-term crypto accumulation, whether earned through bitcoin mining operations or acquired through disciplined capital-markets activities. The business model combines self-mining and hosting in low-cost energy regions with advisory and services that help corporations access bitcoin-denominated revenues and treasury exposure.
The company’s vision is to become the leading Ethereum-treasury platform for institutional investors and public-market participants, while its mission centers on using protocol-level activities such as staking and structured capital formation to increase ETH held per share and contribute to Ethereum’s economic security.
Alongside its treasury strategy, BitMine operates in Trinidad and West Texas (Pecos and Silverton) and provides advisory solutions for public companies pursuing bitcoin strategies.
The company is headquartered in Las Vegas, Nevada.
Products
To deliver on this strategy, BitMine operates and advises across four pillars that align infrastructure, financial engineering, and treasury management.
Bitcoin Mining and Hosting
BitMine runs mining and hosting in low-cost power markets to enhance uptime, efficiency, and scalability across its Trinidad and West Texas sites.
Hashrate and Synthetic Mining Products
The company structures exposure to mining economics by treating hashrate as a financial product, so counterparties can pursue bitcoin-denominated revenue streams without directly operating hardware.
Advisory and Mining Services
BitMine offers advisory and turnkey services for corporations, including public issuers, that seek bitcoin-linked revenues, risk management, and treasury exposure.
Ethereum-First Treasury Strategy (“Alchemy of 5%”)
ETH is positioned as the company’s primary treasury reserve asset, with protocol-level staking and selective DeFi participation designed to steadily increase ETH held per share and deepen participation in the on-chain economy.
Market Opportunity
Independent research from Grand View Research projects the global cryptocurrency market to grow from about $5.7 billion in 2024 to roughly $11.7 billion by 2030, a 13.1% CAGR, reflecting broader adoption of distributed-ledger technology and expanding enterprise use cases.
Within that growth, institutional participation, improving regulatory clarity, and the maturation of staking, custody, and tokenization infrastructure are creating additional pathways for corporate treasuries and public companies to access crypto-denominated revenues and yield, areas aligned with BitMine’s operating focus.
Leadership Team
Thomas Lee, Chairman, is a Managing Partner and Head of Research at Fundstrat and the CIO of Fundstrat Capital, and he previously served as J.P. Morgan’s Chief Equity Strategist and as a Managing Director at Salomon Smith Barney.
Jonathan Bates, Chief Executive Officer, is a former Managing Director at J.P. Morgan Securities with more than 30 years of experience in institutional trading, market structure, and multi-asset portfolio strategy, and he holds a B.B.A. in finance from The University of Texas at Austin.
Raymond Mow, Chief Financial Officer, is a 28-year veteran of fixed income and asset management who previously served as Managing Director, Fixed Income at First Foundation Advisers, where he managed approximately $2.3 billion, and as a Senior Portfolio Manager at Highmark Capital Management, where he oversaw roughly $2 billion.