BITMINE IMMERSION Appoints Robert E. Wilson as CEO, Grants 1M Shares

TL;DR

**BITMINE IMMERSION just named Robert E. Wilson CEO, giving him 1M shares and a $150K salary.**

AI Summary

BITMINE IMMERSION TECHNOLOGIES, INC. announced on January 8, 2024, that it has appointed Mr. Robert E. Wilson as its new Chief Executive Officer and a member of the Board of Directors. Concurrently, Mr. Wilson entered into an employment agreement with an initial term of one year, receiving an annual base salary of $150,000 and a grant of 1,000,000 shares of common stock. This matters to investors because a new CEO can significantly alter the company's strategic direction and operational efficiency, potentially impacting future stock performance.

Why It Matters

A new CEO often signals a shift in company strategy or a push for improved performance, which can directly influence investor confidence and stock valuation. The significant stock grant aligns the CEO's interests with shareholders.

Risk Assessment

Risk Level: medium — While a new CEO can bring positive change, there's always execution risk associated with new leadership and strategic shifts.

Analyst Insight

Smart investors should monitor future announcements from BITMINE IMMERSION TECHNOLOGIES, INC. for details on Robert E. Wilson's strategic plans and any changes in company performance metrics to assess the impact of this new leadership.

Key Numbers

• $150,000 — Annual Base Salary (Compensation for new CEO Robert E. Wilson)
• 1,000,000 — Shares Granted (Equity compensation for new CEO Robert E. Wilson)

Key Players & Entities

• Robert E. Wilson (person) — new Chief Executive Officer and Director of BITMINE IMMERSION TECHNOLOGIES, INC.
• BITMINE IMMERSION TECHNOLOGIES, INC. (company) — the registrant filing the 8-K
• $150,000 (dollar_amount) — Mr. Wilson's annual base salary
• 1,000,000 shares (dollar_amount) — shares of common stock granted to Mr. Wilson
• January 8, 2024 (dollar_amount) — date of the earliest event reported (CEO appointment)

Forward-Looking Statements

• BITMINE IMMERSION TECHNOLOGIES, INC. will announce a new strategic direction or business initiatives under Robert E. Wilson's leadership. (BITMINE IMMERSION TECHNOLOGIES, INC.) — medium confidence, target: Q3 2024

FAQ

Filing Documents

• bitmine_8k.htm (8-K) — 28KB
• bitmine_ex9901.htm (EX-99.1) — 6KB
• 0001683168-24-000327.txt ( ) — 204KB
• bmnr-20240108.xsd (EX-101.SCH) — 3KB
• bmnr-20240108_lab.xml (EX-101.LAB) — 33KB
• bmnr-20240108_pre.xml (EX-101.PRE) — 22KB
• bitmine_8k_htm.xml (XML) — 3KB

02 Departure of Directors or Certain Officers, Election of

Item 5.02 Departure of Directors or Certain Officers, Election of Directors, Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (d) On January 8, 2024, the board of directors of Bitmine Immersion Technologies, Inc. (the "Company") voted to expand the board from six to seven members, and appointed John Kelly to fill the newly-created seat, to hold office the next meeting of shareholders at which directors are elected. Biological information about Mr. Kelly is set forth below: John Kelly has started numerous successful businesses in Heavy Construction, Site Development, Real Estate Development, Car Dealership construction., and Bitcoin Mining Site development. He has helped develop over 100 Car Dealerships, has owned and constructed over 3 million square feet of industrial buildings, and has overseen the construction of over 10,000 individual housing units. His clients include Amazon, Siemens, RK Centers, Group1 Automotive, and Eversource. He is currently President or Principal of three separate companies, including Rykor Energy Solutions. Rykor Energy Solutions produces a proprietary immersion datacenter primarily used for Bitcoin Mining. Mr. Kelly is a principal of ROC Digital Mining Manager, LLC, which manages ROC Digital Mining I, LLC, hosting and mining enterprise in which the Company is a major investor. Mr. Kelly is very qualified to serve on the board given his deep understanding of the construction and engineering which goes into the development and maintenance of a Bitcoin Mining site. Furthermore, he designed and developed his own immersion datacenter product, which provides valuable insight to our existing operations. Mr. Kelly holds numerous Contractor licenses related to Industrial, Commercial, and Residential Construction. Mr. Kelly graduated from Boston College in 1991 with a degree in Political Science. Mr. Kelly does not hold and has not held over the past five years any other directorships in any company with a class

01 Other Events

Item 8.01 Other Events Press Release The Company issued a press release on January 17, 2024. A copy of the press release is attached as Exhibit 99.1. The information set forth in this Item 8.01 of Form 8-K is furnished pursuant to Item 8.01 and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Item No. Description 99.1 Press Release dated January 17, 2024 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL 2

SIGNATURES

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: January 17, 2024 By: /s/ Erik S. Nelson Name: Erik S. Nelson Title: Secretary 3

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View this 8-K filing on SEC EDGAR