Form 4: CEO Jonathan Bates Boosts Stake in Bitmine Immersion

Bitmine Immersion Technologies CEO Jonathan Bates increased his indirect beneficial ownership of common stock through a series of distributions.

Summary

• Jonathan Robert Bates, CEO and Director of Bitmine Immersion Technologies, Inc. (BMNR), reported an increase in his indirect beneficial ownership of common stock.
• On August 26, 2025, Bates acquired a total of 364,289 shares of BMNR common stock through distributions from the dissolution of Innovative Digital Investors Emerging Technology LP (IDI).
• Specifically, 252,044 shares were distributed to Progression Asset Management Corporation (PAMC), an entity wholly owned by Bates. Bates disclaims beneficial ownership of 110,000 of these shares due to third-party rights.
• An additional 96,818 shares were distributed to BFAM Partners, LLC (BFAM), an entity where Bates holds 90% ownership and has sole voting and investment power.
• Furthermore, 15,427 shares were distributed to The Entrust Group, Inc. Custodian FBO Jonathan Bates IRA.
• Following these transactions, Bates' total beneficial ownership in BMNR stands at 967,289 shares, which includes previously held shares by BFAM (210,000 shares) and directly by Bates (393,000 shares).

Sentiment

Score: 7

Explanation: The increase in beneficial ownership by the CEO, even through a distribution rather than a direct purchase, generally signals confidence in the company's future prospects and aligns management's interests with shareholders.

Positives

• Increased beneficial ownership by CEO Jonathan Bates, signaling continued alignment with shareholder interests.
• The acquisition of shares occurred without a direct cash outlay by the CEO, as they were received through a distribution.
• Total beneficial ownership of Jonathan Bates in Bitmine Immersion Technologies, Inc. now stands at 967,289 shares.

Negatives

• The shares were acquired through a distribution from a dissolved entity (IDI) rather than a direct market purchase, which might be interpreted differently than an open market buy.
• 110,000 shares distributed to Progression Asset Management Corporation are subject to third-party rights and are expected to be distributed to them later, reducing Bates' effective beneficial ownership from that specific distribution.

Risks

• The future distribution of 110,000 shares from Progression Asset Management Corporation to third parties could slightly reduce the CEO's effective beneficial ownership from that specific holding.

Future Outlook

110,000 shares of common stock held by Progression Asset Management Corporation, an entity wholly owned by the Reporting Person, are subject to third-party rights and are expected to be distributed to them at a later date.

Industry Context

Form 4 filings are standard disclosures for changes in beneficial ownership by company insiders. An increase in insider ownership, even through a distribution, is generally viewed as a positive indicator of management's confidence in the company's future performance and alignment with shareholder interests.

Stakeholder Impact

• Shareholders may view the increased insider ownership as a positive sign of management's commitment and belief in the company's long-term value.

Next Steps

• The future distribution of 110,000 shares from Progression Asset Management Corporation to third parties.

Key Dates

Recommendation

The increase in the CEO's beneficial ownership, while positive for insider alignment, stems from a distribution rather than a direct market purchase, which typically carries less immediate market signal. It reinforces a 'hold' position, indicating management's continued confidence without suggesting an immediate catalyst for a 'buy' or 'sell' decision based solely on this filing.

Keywords

Bitmine Immersion Technologies, BMNR, Jonathan Bates, CEO, Director, Insider Ownership, Form 4, Beneficial Ownership, Equity Distribution, Shareholder Alignment