---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-22-004038"
form_type: "8-K"
ticker: "BMNR"
cik: "0001829311"
company_name: "BITMINE IMMERSION TECHNOLOGIES, INC."
filed_at: "2022-05-27T23:59:59+00:00"
generated_at: "2026-06-25T06:26:21.399033+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Bitmine appoints Jonathan Bates CEO; IDI to convert $2.1M debt into preferred stock

## Summary
- Jonathan Bates, previously Chairman, appointed CEO; Erik Nelson moved to President. Bates to work without salary through 2022, receives only equity options.
- IDI (managed by Bates) agreed in principle to convert ~$2.1M existing debt plus additional $900K into a new preferred stock class.
- Conversion subject to disinterested board approval and shareholder vote to authorize preferred stock; expected to close in ~60 days after board approval.
- Debt conversion strengthens balance sheet, prepares Bitmine for potential NASDAQ/NYSE uplisting.

## SEC filing metadata
- accession: 0001683168-22-004038
- form_type: 8-K
- ticker: BMNR
- cik: 0001829311
- company_name: BITMINE IMMERSION TECHNOLOGIES, INC.
- filed_at: 2022-05-27T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1829311/000168316822004038/0001683168-22-004038-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1829311/000168316822004038/bitmine_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-22-004038
- JSON: https://secwatch.observer/filing/0001683168-22-004038.json
- Plain text: https://secwatch.observer/filing/0001683168-22-004038.txt

## Key facts
- Executive change
  Jonathan Bates was appointed as Chief Executive Officer at BITMINE IMMERSION TECHNOLOGIES, INC..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: On May 26, 2022, the Company appointed Jonathan Bates as chief executive officer and Erik S. Nelson as president.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1829311/000168316822004038/0001683168-22-004038-index.htm
- Executive change
  Erik S. Nelson was appointed as President at BITMINE IMMERSION TECHNOLOGIES, INC..
  - Action: appointed
  - Role: President
  source text: On May 26, 2022, Erik S. Nelson resigned as chief executive officer of Bitmine Immersion Technologies, Inc. (the “ Company ”) in order to allow Jonathan Bates to assume the position of chief executive officer. (c) On May 26, 2022, the Company appointed Jonathan Bates as chief executive officer and Erik S. Nelson as president.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1829311/000168316822004038/0001683168-22-004038-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.