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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT PURSUANT TO SECTION 13 OR 15(d)
OF
THE SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): August 25, 2025
BITMINE
IMMERSION TECHNOLOGIES, INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-42675 |
|
84-3986354 |
(State
or other jurisdiction
of
incorporation or organization) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
10845
Griffith Peak Dr. #2
Las
Vegas, NV 89135
(Address
of principal executive office) (Zip Code)
(404)
816-8240
(Registrants’
telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, par value $0.0001 |
|
BMNR |
|
NYSE
American LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging
Growth Company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
On
August 24, 2025, the Board of Directors (the “Board”) of Bitmine Immersion Technologies, Inc. (the “Company”)
appointed Mr. David E. Sharbutt to serve as a director on the Board. On August 25, 2025, Mr. Sharbutt
accepted the appointment to serve on the Board, and on August 27, 2025, Mr. Sharbutt executed an offer letter with the Company pursuant
to which he will serve as a director (the “Offer Letter”). Mr. Sharbutt will serve as an independent director
until the Company’s next annual meeting of stockholders and until his successor has been duly elected and qualified, or until his
earlier death, resignation or removal. The Board expects to appoint Mr. Sharbutt to one or more of its committees, with such committee
assignment(s) to be determined at a later date.
Mr.
Sharbutt, age 76, is a former business executive, who most recently served as CEO and Chairman of Alamosa Holdings, Inc., a provider
of wireless communications services, which was acquired by Sprint Nextel Corporation in February 2006. Mr. Sharbutt had been Alamosa’s
Chairman and a director since the company was founded in July 1998 and was named CEO in October 1999. Before joining Alamosa, Mr. Sharbutt
was President and CEO of Hicks & Ragland Engineering Co., an engineering consulting company (now known as CHR Solutions). Mr. Sharbutt
served on the board of directors of American Tower Corporation from July 2006 to May 2023. Mr. Sharbutt received a Bachelor of Science
degree in electrical engineering from Texas Tech University in 1971.
In
connection with his appointment, Mr. Sharbutt will be entitled to receive the Company’s standard compensation for non-employee
directors, including 10,000 shares of common stock for service for the fiscal year ending August
31, 2025 and 750 shares of common stock of the Company per month for future service on the Board and an additional 250 shares of
common stock per month for each additional committee on which Mr. Sharbutt serves. The foregoing summary is qualified in its
entirety by reference to the Offer Letter, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and which
is incorporated herein by reference.
There
are no arrangements or understandings between Mr. Sharbutt and any other persons pursuant to which he was elected as a director of the
Company. There are no family relationships between Mr. Sharbutt and any other director or executive officer of the Company and he has
no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated
by the Securities and Exchange Commission.
Item
7.01 Regulation FD Disclosure.
On
August 28, 2025, the Company issued a press release (the “Press Release”) announcing Mr. Sharbutt’s appointment
to the Board. A copy of the Press Release is attached as Exhibit 99.1 and is incorporated herein by reference.
The
information under this Item 7.01, including Exhibit 99.1, 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,
and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended,
or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits.
Exhibit
No. |
|
Description |
10.1 |
|
Offer Letter, dated August 26, 2025. |
99.1 |
|
Press Release, dated August 28, 2025. |
104 |
|
Cover
Page Interactive Data File (embedded within the Inline XBRL document). |
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:
August 28, 2025 |
By: |
/s/
Jonathan Bates |
|
Name: |
Jonathan
Bates |
|
Title: |
Chief
Executive Officer |