BITMINE IMMERSION TECHNOLOGIES, INC. (BMNR) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: January 13, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 10856.43% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
450M
Potential Supply
0
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

BMNR currently has 455M outstanding shares. with minimal authorized share overhang for future dilution. The company has significantly diluted shareholders by 10856.43% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Jan 13, 2026

10-Q filing | 454.9M shares outstanding

450M 0
Nov 21, 2025

10-K filing | 384.1M shares outstanding

380M 0
Sep 22, 2025

8-K filing: Bitmine Immersion Technologies, Inc. entered into a securities purchase agreement to sell 5,217,715 shares of common stock at $70.00 per share and a warrant to purchase up to 10,435,430 shares of common stock at $87.50 per Warrant Share in a registered direct offering. ($365.0M proceeds)

4.3M 0
Jul 09, 2025

8-K filing: BitMine Immersion Technologies, Inc. entered into a consulting agreement with Ethereum Tower LLC, a Strategic Advisor Agreement with Ethereum Tower Instant LLC, and completed private placement offerings resulting in the sale of common stock and pre-funded warrants. ($203.01M proceeds)

4.3M 0
Jul 03, 2025

8-K filing: BitMine Immersion Technologies, Inc. entered into securities purchase agreements for a private placement offering of common stock and pre-funded warrants with accredited investors, raising funds to acquire ETH for treasury operations and blockchain-related services. ($203.01M proceeds)

4.3M 0
Jul 02, 2025

10-Q filing | 4.3M shares outstanding

4.3M 0
Jun 10, 2025

8-K filing: Bitmine Immersion Technologies, Inc. completed a public offering of 2,250,000 shares of common stock at $8.00 per share, resulting in net proceeds of $16,150,000, and also converted Series A and B Convertible Preferred Stock into common stock and debt into common stock and promissory notes. ($18.8M proceeds)

2.1M 880K
May 27, 2025

S-1/A filing: This S-1/A filing from 2025-05-27 relates to an offering of 1,875,000 shares of common stock at an assumed price of $8.00 per share.

2.1M 2.8M
May 16, 2025
Stock Split

8-K filing: Stock split 1-for-20 | Outstanding: 39,667,607 → 1,983,380

2M 1.1M
Apr 14, 2025

10-Q filing | 39.7M shares outstanding

40M 23M
Apr 09, 2025

S-1/A filing: This S-1/A filing includes information about 1,704,546 shares of common stock offered by the company and estimates net proceeds of approximately $15,000,000, based upon an assumed public offering price of $8.80 per share.

2M 60M
Feb 18, 2025

S-1/A filing: This is an S-1/A filing for an offering of common stock. The company intends to list its common stock on an exchange under the symbol "BMNR." The offering includes an over-allotment option. Proceeds may be invested in bitcoin initially, but ultimately used for general working capital.

40M 19M
Jan 10, 2025

10-Q filing | 39.7M shares outstanding

40M 19M
Dec 09, 2024

10-K filing | 39.7M shares outstanding

40M 19M
Nov 07, 2024

8-K filing: The Company issued 2,500 shares of Series B Convertible Preferred Stock for $200,000 cash and 11,500,000 shares of common stock owned by IDI, and approved a Certificate of Designations for Series B Convertible Preferred Stock authorizing up to 3,000 shares. ($0.2M proceeds)

50M 8.8M
Jul 15, 2024

10-Q filing | 49.8M shares outstanding

50M 8.8M
Apr 15, 2024

10-Q filing | 49.8M shares outstanding

50M 8.8M
Jan 12, 2024

10-Q filing | 49.7M shares outstanding

50M 8.9M
Dec 14, 2023

10-K filing | 49.1M shares outstanding

49M 9.5M
Jul 14, 2023

10-Q filing | 48.9M shares outstanding

49M 9.7M
Apr 13, 2023

10-Q filing | 48.8M shares outstanding

49M 9.8M
Jan 05, 2023

10-Q filing | 48.7M shares outstanding

49M 9.9M
Dec 09, 2022

10-K filing | 48.7M shares outstanding

49M 9.9M
Nov 14, 2022

S-1/A filing: This S-1/A filing relates to the offer and resale of up to an aggregate of 14,887,800 shares of common stock of Bitmine Immersion Technologies, Inc. by selling stockholders.

49M 10M
Oct 19, 2022

8-K filing: Bitmine Immersion Technologies, Inc. entered into a joint venture with Roc Digital Mining Manager LLC, a Line of Credit Agreement with Innovative Digital Investors Emerging Technology, L.P., and is experiencing issues with electricity costs in Trinidad. ($1.2M proceeds)

47M 11M
Sep 06, 2022

8-K filing: Bitmine Immersion Technologies, Inc. converted $3,039,662 of indebtedness into 303,966 shares of Series A Convertible Preferred Stock with Innovative Digital Investors Emerging Technology, L.P. The company also filed an Amended and Restated Certificate of Incorporation authorizing 20,000,000 shares of preferred stock and a Certificate of Designations, Rights and Preferences of Series A Convertible Preferred Stock authorizing the creation and issuance of up to 500,000 shares of Series A Preferred.

47M 11M
Jul 27, 2022

S-1 filing: This prospectus relates to the offer and resale of up to an aggregate of 14,662,800 shares of common stock of Bitmine Immersion Technologies, Inc.

47M 11M
Jul 14, 2022

10-Q filing | 43.7M shares outstanding

44M 0
Apr 18, 2022

10-Q filing | 43.6M shares outstanding

44M 0
Jan 11, 2022

10-Q filing | 40.6M shares outstanding

41M 0
Dec 09, 2021

10-K filing | 41.2M shares outstanding

41M 0
Jul 30, 2021

10-Q filing | 2.8M shares outstanding

2.8M 0
Apr 15, 2021

10-Q filing | 480.2M shares outstanding

480M 0
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