Form 8-K · Current Report · Filed 2025-05-20

BitMine Launches Bitcoin Treasury Advisory Practice and Enters into $4M Transaction

BitMine Immersion Technologies, Inc. has entered into a $4 million strategic transaction with KULR Technology Group, Inc., involving the lease of 3,000 Bitcoin ASIC miners and a consulting agreement. This transaction marks the first client for BitMine's new Bitcoin Treasury Advisory Practice, which offers 'Mining as a Service' and Bitcoin Treasury Strategy consulting. The lease agreement, effective from May 16, 2025, to December 31, 2025, includes total payments of $3.2 million, with $1.6 million paid upfront. The consulting agreement, from May 16, 2025, to May 15, 2026, involves a payment of $800,000, with $400,000 payable upfront and the remaining amount in monthly installments. The transaction also includes the launch of BitMine's Bitcoin Treasury Advisory Practice, which aims to support public companies with Bitcoin-based revenue strategies.