Bitmine Immersion Technologies BMNR
- Headquarters
- Norwalk, CT
- CEO
- Chi Keung Tsang
- Next results
- around Nov 20, 2026
What changed
92 new risk paragraphs and 4 accounting facts worth reading about. 10-K filed Nov 10, 2026 against Nov 21, 2025.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
8 checks on the latest 10-K. Checks, not verdicts.
4facts worth reading about the other 4 checks found nothing to note
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Auditor change8-K item 4.01 (change in certifying accountant) filed May 1, 2026
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Late filing notice (NT 10-K or NT 10-Q)NT 10-K filed Nov 25, 2024: the company said its 10-K would be late
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Critical audit matters changedNew this year: F-3; Table of Contents (“• We independently calculated the fair value of Bitcoin and ETH using data from multiple reputable cryptocurrency exchanges and compared our valuation to the Company’s recorded amounts.”). No longer listed: F-2; We; We; We; We; We; Assets; We; We; We; We; We; We
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Material weakness in internal control“Management concluded that the Company's ICFR was not effective as of August 31, 2026 due to the continued existence of material weaknesses in internal control over financial reporting.”
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No statement of substantial doubt about going concern
3 more checks with nothing to note
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No 8-K item 4.02 in the last 2 years
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No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years
In their words
92 paragraphs in Risk Factors that were not in the 10-K filed Nov 21, 2025. Quoted as filed.
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Item 1A · new paragraph · not in the 10-K filed Nov 21, 2025 10-K, ITEM 1A
Our shift towards an ETH-focused strategy requires substantial changes in our day-to-day operations and exposes us to new operational risks. Our shift towards an ETH-focused strategy, including staking, restaking, liquid staking, and other decentralized finance activities, exposes us to new operational risks. Staking ETH involves…
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Item 1A · new paragraph · not in the 10-K filed Nov 21, 2025 10-K, ITEM 1A
Our staking and validator operations conducted through MAVAN are subject to significant risks, including slashing, lock-up periods, smart contract vulnerabilities, liquidity constraints, counterparty exposure, and operational failures, any of which could result in a partial or total loss of staked ETH or a material reduction in staking…
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Item 1A · new paragraph · not in the 10-K filed Nov 21, 2025 10-K, ITEM 1A
The Ethereum protocol may be modified in ways that reduce or eliminate staking rewards, and regulatory developments in the United States and abroad may affect our ability to stake ETH or the economic terms on which staking is conducted. Any such changes could materially reduce our staking revenues and the value of our ETH holdings.…
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Item 1A · new paragraph · not in the 10-K filed Nov 21, 2025 10-K, ITEM 1A
Although we do not currently intend to mine ETH, digital asset validating operations can consume significant amounts of electricity, which may have a negative environmental impact and give rise to public opinion against allowing, or government regulations restricting, the use of electricity for validating operations. Additionally,…
New risk paragraphs, against peers
Latest 10-K of each, Crypto companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|
| Revenue | $645K | $3.3M | $6.1M | $124.8M |
| Net income | −$2.5M | −$3.3M | $348.6M | −$6.3B |
| Operating cash flow | −$810K | −$30K | −$4.1M | −$305.1M |
| Free cash flow | −$1.4M | −$106K | −$5.2M |
Revenue, FY2021 to FY2026
Ten fiscal years, each from its own 10-K · XBRL · USD
$124.8M ▲ 1947.8% in FY2026−$6.3B in FY2026
Recent filings
6 filings in the last 30 days · SEC EDGAR
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AuditorNov 10, 2026Auditor changed: Bush and Associates CPA → KPMG LLP auditor named in the 10-K
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10-KNov 10, 2026Annual report (10-K) period ended Aug 31, 2026
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8-KNov 9, 2026Regulation FD disclosure 8-K item 7.01
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8-KNov 2, 2026Regulation FD disclosure 8-K item 7.01
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8-KOct 26, 2026Regulation FD disclosure 8-K item 7.01
About the company
Bitmine Immersion Technologies, Norwalk, CT · from the 10-K filed Nov 10, 2026
Bitmine Immersion Technologies, Inc. is a U.S.-based digital asset technology company operating in the digital asset industry with a strategic focus on acquiring, holding and managing digital assets as well as providing critical blockchain infrastructure services. Beginning in July 2025, we expanded our business to focus primarily on Ethereum and its native cryptocurrency, ETH, transitioning from primarily Bitcoin mining and hosting activities toward long-term accumulation, staking and optimization of our digital asset holdings.
- Headquarters
- Norwalk, CT
- Country
- United States
- Listed on
- NYSE
- Fiscal year ends
- August 31
- Last results
- Nov 21, 2025
- Incorporated in
- DE
Email alerts
Sources
The 10-K filed Nov 10, 2026 (open at SEC), compared with the 10-K filed Nov 21, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
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