---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-24-007768"
form_type: "8-K"
ticker: "BMNR"
cik: "0001829311"
company_name: "BITMINE IMMERSION TECHNOLOGIES, INC."
filed_at: "2024-11-07T23:59:59+00:00"
generated_at: "2026-05-30T03:48:17.540535+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Bitmine Immersion expands credit line to $2.3M and issues Series B Preferred, raising $450K

## Summary
- LOC increased from $1.75M to $2.3M; maturity is extendable monthly up to 6 months at $25K per extension fee.
- IDI converts 11.5M common shares into 2,300 Series B Preferred shares and buys 200 additional shares for $200K cash.
- Net new financing of $450K: $250K LOC draw plus $200K from Series B purchase; total Series B issued 2,500 shares.
- Series A Preferred conversion price reset from $0.575 to $0.20 per share due to anti-dilution triggered by Series B issuance.
- Series B Preferred has $1,000/share liquidation preference, conversion at $0.20/share, ranks senior to common but junior to Series A.

## SEC filing metadata
- accession: 0001683168-24-007768
- form_type: 8-K
- ticker: BMNR
- cik: 0001829311
- company_name: BITMINE IMMERSION TECHNOLOGIES, INC.
- filed_at: 2024-11-07T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1829311/000168316824007768/0001683168-24-007768-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1829311/000168316824007768/bitmine_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-24-007768
- JSON: https://secwatch.observer/filing/0001683168-24-007768.json
- Plain text: https://secwatch.observer/filing/0001683168-24-007768.txt

## Key facts
- Governance Changes
  BITMINE IMMERSION TECHNOLOGIES, INC.: Approved Certificate of Designation for Series B Convertible Preferred Stock (effective 2024-11-04).
  - Change: charter amendment
  - Effective: 2024-11-04
  source text: On November 4, 2024, the Company approved a Certificate of Designations, Rights and Preferences of Series B Convertible Preferred Stock (the “ Certificate of Designation ”) with the Delaware Secretary of State, which authorized the creation and issuance of up to 3,000 shares of Series B Convertible Preferred Stock (the “ Series B Preferred ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1829311/000168316824007768/0001683168-24-007768-index.htm

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