BMNR · Bitmine Immersion Technologies, Inc.

Each RSU represents a contingent right to receive one share of Common Stock.

2026 Award RSUs were granted on January 23, 2026 and vest quarterly in four equal 25% installments over the 12 months following the grant date, subject to the Reporting Person's continued service through the applicable vesting date.

Represents shares of the Issuer's common stock settled upon the vesting of restricted stock units (each an "RSU").

Represents shares of the Issuer's common stock settled upon the vesting of restricted stock units (each an "RSU").

Represents shares of the Issuer's common stock settled upon the vesting of restricted stock units (each an "RSU").

Represents shares of the Issuer's common stock settled upon the vesting of restricted stock units (each an "RSU").

Each RSU represents a contingent right to receive one share of Common Stock.

2026 Award RSUs were granted on January 23, 2026 and vest quarterly in four equal 25% installments over the 12 months following the grant date, subject to the Reporting Person's continued service through the applicable vesting date.

Each RSU represents a contingent right to receive one share of Common Stock.

2026 Award RSUs were granted on January 23, 2026 and vest quarterly in four equal 25% installments over the 12 months following the grant date, subject to the Reporting Person's continued service through the applicable vesting date.

Each RSU represents a contingent right to receive one share of Common Stock.

2026 Award RSUs were granted on January 23, 2026 and vest quarterly in four equal 25% installments over the 12 months following the grant date, subject to the Reporting Person's continued service through the applicable vesting date.

Each RSU represents a contingent right to receive one share of Common Stock.

2026 Award RSUs were granted on January 23, 2026 and vest quarterly in four equal 25% installments over the 12 months following the grant date, subject to the Reporting Person's continued service through the applicable vesting date.

Represents shares of the Issuer's common stock settled upon the vesting of restricted stock units (each an "RSU").

Represents awards in the form of fully-vested shares of Common Stock for respective service on the Board and its committees during the 2025 calendar year.

Represents an award of options to purchase Common Stock for the Reporting Person's service on the Board and its committees during the 2026 calendar year ("2026 Award"). The 2026 Award options vest and become exercisable in four equal quarterly installments following the grant date, and expire 10 years following the grant date.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of Common Stock.

Represents an award of RSUs granted to non-employee directors for their respective service on the Board and its committees during the 2026 calendar year ("2026 Award"). The 2026 Award shares vest quarterly in equal 25% installments over the 12 months following the grant date.

Represents shares of Common Stock for respective service on the Board and its committees during the 2025 Calendar Year.

Represents shares of Common Stock for respective service on the Board and its committees during the 2025 calendar year.

Represents a one-time grant of shares of Common Stock to newly-appointed independent members of the Board for the purpose of ensuring all directors have significant alignment with the Company's stockholders.

Each RSU represents a contingent right to receive one share of Common Stock.

On January 23, 2026, 500,000 of the Reporting Person's RSUs were settled for an equal number of shares of Common Stock.

Represents RSUs that immediately vested on the grant date in the form of Common Stock.

Represents a one-time grant of shares of Common Stock to newly-appointed independent members of the Board for the purpose of ensuring all directors have significant alignment with the Company's stockholders.

Represents shares of Common Stock for respective service on the Board and its committees during the 2025 calendar year.

Represents awards in the form of fully-vested shares of Common Stock for respective service on the Board and its committees during the 2025 calendar year.

Represents a one-time grant of shares of Common Stock to newly-appointed independent members of the Board for the purpose of ensuring all directors have significant alignment with the Company's stockholders.

Represents one-third of the restricted stock units ("RSUs") granted to the Reporting Person for service as Executive Chairman, which were immediately vested on the date of grant in the form of Common Stock.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of Common Stock.

Represents an award of RSUs for the Reporting Person's service on the Board and its committees during the 2026 calendar year ("2026 Award"). The 2026 Award shares vest quarterly in equal 25% installments over the 12 months following the grant date.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of Common Stock.

Represents an award of RSUs for the Reporting Person's service on the Board and its committees during the 2026 calendar year ("2026 Award"). The 2026 Award shares vest quarterly in equal 25% installments over the 12 months following the grant date.

Represents a one-time grant of shares of Common Stock to newly-appointed independent members of the Board to ensure all directors have significant alignment with the Company's stockholders, reduced by the 10,000 shares of Common Stock previously granted to the Reporting Person during 2025.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of Common Stock.

Represents an award of RSUs granted to non-employee directors for their respective service on the Board and its committees during the 2026 calendar year ("2026 Award"). The 2026 Award shares vest quarterly in equal 25% installments over the 12 months following the grant date.

Represents awards in the form of fully-vested shares of Common Stock for respective service on the Board and its committees during the 2025 calendar year.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of Common Stock.

Represents an award of RSUs for the Reporting Person's service on the Board and its committees during the 2026 calendar year ("2026 Award"). The 2026 Award shares vest quarterly in equal 25% installments over the 12 months following the grant date.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of Common Stock upon vesting.

These RSUs vest in four equal quarterly installments following the grant date, subject to the Reporting Person's continued employment through each applicable vesting date.

Each RSU represents a contingent right to receive one share of Common Stock.

Represents RSUs which were granted to the Reporting Person for services as Executive Chairman. 500,000 RSUs were immediately vested on the grant date in the form of Common Stock, 500,000 RSUs will vest on the first anniversary of the grant date and the remaining 500,000 RSUs will vest on the second anniversary of the grant date, subject to the Reporting Person's continued service on each applicable vesting date.

Shares withheld for payment of tax liability.

The Reporting Person held contractual rights with respect to 55,000 shares of common stock held by Progression Asset Management Corporation ("PAMC"), a California corporation, and an entity wholly owned by Jonathan Bates. The shares were distributed by PAMC, to Raymond Mow Enterprises LLC, an entity wholly owned by the Reporting Person. The Reporting Person may be deemed to have indirect beneficial ownership of such 55,000 shares. The Reporting Person disclaims beneficial ownership of shares held by Raymond Mow Enterprises LLC except to the extent of his pecuniary interest therein.

The Reporting Person held contractual rights with respect to 55,000 shares of common stock held by Progression Asset Management Corporation ("PAMC"), a California corporation, and an entity wholly owned by Jonathan Bates. The shares were distributed by PAMC, to Raymond Mow Enterprises LLC, an entity wholly owned by the Reporting Person. The Reporting Person may be deemed to have indirect beneficial ownership of such 55,000 shares. The Reporting Person disclaims beneficial ownership of shares held by Raymond Mow Enterprises LLC except to the extent of his pecuniary interest therein.

On December 3, 2025, 652 restricted stock units ("RSUs") were vested in accordance with the vesting schedule in the Employment Agreement and subject to the continued employment of the Registered Person on each vesting date.

On December 3, 2025, 2,608 restricted stock units ("RSUs") were vested in accordance with the vesting schedule in the Employment Agreement and subject to the continued employment of the Registered Person on each vesting date.

RSUs convert into common stock on a one-for-one basis.

On December 3, 2025, 652 restricted stock units ("RSUs") were vested in accordance with the vesting schedule in the Employment Agreement and subject to the continued employment of the Registered Person on each vesting date.

RSUs convert into common stock on a one-for-one basis.

On December 3, 2025, 2,608 restricted stock units ("RSUs") were vested in accordance with the vesting schedule in the Employment Agreement and subject to the continued employment of the Registered Person on each vesting date.

RSUs vest in accordance with the terms of that certain Executive Employment Agreement by and between the Company and the Reporting Person, effective as of September 1, 2025 (the "Employment Agreement"). The vesting schedule provides for four equal installments of 25% each on November 30, 2025, February 28, 2026, May 31, 2026, and August 31, 2026.

The shares were distributed as an in-kind distribution to withdrawing limited partners of Coral Investment Partners, LP, representing their pro rata interest in the shares held by Coral Investment Partners, LP. No consideration was received for the transfer. The distribution is exempt from Section 16(b) of the Securities Exchange Act of 1934 because it does not constitute a sale of security under applicable law.

Includes (i) 76,000 shares owned by the Reporting Person, (ii) 36,378 shares owned by Coral Investment Partners, LP, and (iii) 2,500 shares owned by Morris Lake Holdings, LLC ("Morris"). The Reporting Person does not have an interest in Morris, but his spouse and children own 80% of Morris, and his spouse shares the power to vote and dispose of any shares owned by Morris.

The Reporting Person, in his capacity as owner of the general partner, has sole voting and investment power of shares held by Coral Investment Partners, LP.

On September 22, 2025, the Reporting Person entered into a prepaid variable forward contract with an unaffiliated financial institution (the "Bank") for himself and for Progression Asset Management Corporation ("PAMC"), respectively. The contract obligates the Reporting Person to deliver to the Bank up to an aggregate of 50,000 shares and 100,000 shares, respectively (each the "Base Amount") of the Issuer's Common Stock (or, at the Reporting Person's election, an equivalent amount of cash) on a settlement date following September 11, 2028 (the "Maturity Date") (continued on footnote 2 to this Form 4).

(Continued from footnote 1 to this Form 4) In exchange for assuming this obligation, the Reporting Person received a cash payment of $2,389,663 and $4,779,326, respectively. The Reporting Person respectively pledged 50,000 shares and 100,000 shares of the Issuer's Common Stock (the "Pledged Shares") to secure his obligations under the contract, and retained voting rights in the Pledged Shares during the term of the pledge, but is obligated to pay to the Bank the economic benefits of dividends.

The number of shares of the Issuer's Common Stock to be delivered by the Reporting Person to the Bank on the Settlement Date (first business day following the Maturity Date) is to be generally determined as follows: (a) if the closing price of shares of the Issuer's Common Stock on the Maturity Date (the "Settlement Price") is less than $90.00 ("Cap Level") but greater than $53.30 ("Floor Level"), the Reporting Person will deliver a number of shares of the Issuer's Common Stock equal to the Base Amount multiplied by a ratio equal to the Floor Level divided by the Settlement Price; (continued on footnote 4 to this Form 4)

(Continued from footnote 3 to this Form 4) (b) if the Settlement Price is equal to or greater than the Cap Level on the Maturity Date, the Reporting Person will deliver a number of shares of the Issuer's Common Stock equal to the Base Amount multiplied by a ratio equal to a fraction with a numerator equal to the sum of (A) the Floor Level and (B) the excess, if any, of the Settlement Price over the Cap Level, and a denominator equal to the Settlement Price; and (c) if the Settlement Price is equal to or less than the Floor Level on the Maturity Date, the Reporting Person will deliver a number of shares of the Issuer's Common Stock equal to the Base Amount.

Held by Progression Asset Management Corporation, a California corporation wholly owned by the Reporting Person.

On September 22, 2025, the Reporting Person entered into a prepaid variable forward contract with an unaffiliated financial institution (the "Bank") for himself and for Progression Asset Management Corporation ("PAMC"), respectively. The contract obligates the Reporting Person to deliver to the Bank up to an aggregate of 50,000 shares and 100,000 shares, respectively (each the "Base Amount") of the Issuer's Common Stock (or, at the Reporting Person's election, an equivalent amount of cash) on a settlement date following September 11, 2028 (the "Maturity Date") (continued on footnote 2 to this Form 4).

(Continued from footnote 1 to this Form 4) In exchange for assuming this obligation, the Reporting Person received a cash payment of $2,389,663 and $4,779,326, respectively. The Reporting Person respectively pledged 50,000 shares and 100,000 shares of the Issuer's Common Stock (the "Pledged Shares") to secure his obligations under the contract, and retained voting rights in the Pledged Shares during the term of the pledge, but is obligated to pay to the Bank the economic benefits of dividends.

The number of shares of the Issuer's Common Stock to be delivered by the Reporting Person to the Bank on the Settlement Date (first business day following the Maturity Date) is to be generally determined as follows: (a) if the closing price of shares of the Issuer's Common Stock on the Maturity Date (the "Settlement Price") is less than $90.00 ("Cap Level") but greater than $53.30 ("Floor Level"), the Reporting Person will deliver a number of shares of the Issuer's Common Stock equal to the Base Amount multiplied by a ratio equal to the Floor Level divided by the Settlement Price; (continued on footnote 4 to this Form 4)

(Continued from footnote 3 to this Form 4) (b) if the Settlement Price is equal to or greater than the Cap Level on the Maturity Date, the Reporting Person will deliver a number of shares of the Issuer's Common Stock equal to the Base Amount multiplied by a ratio equal to a fraction with a numerator equal to the sum of (A) the Floor Level and (B) the excess, if any, of the Settlement Price over the Cap Level, and a denominator equal to the Settlement Price; and (c) if the Settlement Price is equal to or less than the Floor Level on the Maturity Date, the Reporting Person will deliver a number of shares of the Issuer's Common Stock equal to the Base Amount.

On September 11, 2025, the Reporting Person entered into a prepaid variable forward contract with an unaffiliated financial institution (the "Bank"). The contract obligates the Reporting Person to deliver to the Bank up to an aggregate of 250,000 shares (the "Base Amount") of the Issuer's Common Stock (or, at the Reporting Person's election, an equivalent amount of cash) on a settlement date following September 11, 2028 (the "Maturity Date"). In exchange for assuming this obligation, the Reporting Person received a cash payment of $10,136,778. The Reporting Person pledged 250,000 shares of the Issuer's Common Stock (the "Pledged Shares") to secure his obligations under the contract and retained voting rights in the Pledged Shares during the term of the pledge, but is obligated to pay to the Bank the economic benefits of dividends.

The number of shares of the Issuer's Common Stock to be delivered by the Reporting Person to the Bank on the Settlement Date (first business day following the Maturity Date) is to be generally determined as follows: (a) if the closing price of shares of the Issuer's Common Stock on the Maturity Date (the "Settlement Price") is less than $73.26 ("Cap Level") but greater than $45.20 ("Floor Level"), the Reporting Person will deliver a number of shares of the Issuer's Common Stock equal to the Base Amount multiplied by a ratio equal to the Floor Level divided by the Settlement Price; (continued on footnote 3 to this Form 4)

(Continued from footnote 2 to this Form 4) (b) if the Settlement Price is equal to or greater than the Cap Level on the Maturity Date, the Reporting Person will deliver a number of shares of the Issuer's Common Stock equal to the Base Amount multiplied by a ratio equal to a fraction with a numerator equal to the sum of (A) the Floor Level and (B) the excess, if any, of the Settlement Price over the Cap Level, and a denominator equal to the Settlement Price; and (c) if the Settlement Price is equal to or less than the Floor Level on the Maturity Date, the Reporting Person will deliver a number of shares of the Issuer's Common Stock equal to the Base Amount.

These shares were issued to the Reporting Person in exchange for services rendered to the Company for the 2025 fiscal year.