Form 4: BitMine Immersion Insider Reports Indirect Share Shift

Erik S. Nelson, President and Director of BitMine Immersion Technologies, reported an in-kind distribution of shares from Coral Investment Partners, LP, affecting his indirect beneficial ownership.

Summary

• Erik S. Nelson, President, Director, and 10% Owner of BitMine Immersion Technologies, Inc. (BMNR), filed a Form 4.
• The filing reports an in-kind distribution of 38,872 shares of Common Stock from Coral Investment Partners, LP, to withdrawing limited partners.
• No consideration was received for this transfer, and it is exempt from Section 16(b) of the Securities Exchange Act of 1934 as it does not constitute a sale.
• Following this transaction, Erik S. Nelson beneficially owns a total of 114,878 shares.
• This total includes 76,000 shares owned directly by Nelson, 36,378 shares owned by Coral Investment Partners, LP, and 2,500 shares owned by Morris Lake Holdings, LLC.
• Nelson, as the owner of the general partner, has sole voting and investment power over shares held by Coral Investment Partners, LP.
• Nelson's spouse and children own 80% of Morris Lake Holdings, LLC, and his spouse shares the power to vote and dispose of shares owned by Morris.

Sentiment

Score: 5

Explanation: The filing is a routine report of an insider transaction (in-kind distribution) and does not contain information that would significantly alter the sentiment towards the company's operational or financial performance.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or operations.

Industry Context

This filing is specific to an insider's beneficial ownership changes and does not provide broader industry context or trends.

Related Party Transactions

• The in-kind distribution of 38,872 shares occurred from Coral Investment Partners, LP, an entity where Erik S. Nelson, the reporting person, is the owner of the general partner and has sole voting and investment power.
• Erik S. Nelson's beneficial ownership includes 2,500 shares held by Morris Lake Holdings, LLC, an entity where his spouse and children own 80%, and his spouse shares voting and disposal power.

Stakeholder Impact

• Shareholders: A minor change in the indirect ownership structure of a key insider, with no direct market sale or purchase impact.
• Management: Reflects a change in how the President and Director holds a portion of his beneficial interest in the company.

Key Dates

Keywords

BMNR, BitMine Immersion Technologies, Erik S. Nelson, Insider Transaction, Form 4, Beneficial Ownership, Equity Distribution