Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-01-20

Bitmine Immersion Technologies (BMNR)

Former CEO Jonathan Bates was paid $1,602,740 in fiscal year 2025, ↑ up 157.6% from fiscal year 2024 (SEC filing 0001493152-25-026868 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$1,602,740 ↑
Jonathan Bates total, FY2025
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CEO pay percentile vs peers
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CEO-to-median pay ratio
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Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Jonathan Bates (Former Chief Executive Officer), FY2025 total compensation $1,602,740 (base salary $300,000) [exec_comp, SEC accession 0001493152-25-026868, filed 2025-12-09]

Answered within 24 hours, every figure cited to its SEC filing. If our database cannot answer your question, you are refunded automatically.

BMNR's next annual pay disclosure, estimated December 9, 2026.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Jonathan Bates$300,000$935,000$367,740$0$0$0$0$1,602,740
Former Chief Executive Officer
Raymond Mow120,000425,000466,27300001,011,273
Chief Financial Officer
Erik Nelson120,000170,000466,2730000756,273
President

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Jonathan Bates$1,602,740$622,120—↑ +980,620
Raymond Mow1,011,273155,115—↑ +856,158
Erik Nelson756,27363,871—↑ +692,402

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against BMNR
No companies currently name BMNR as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Chi TsangDirector—
Lori LoveIndependent Director$256,650
Michael MaloneyIndependent Director$230,250
02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Erik NelsonRSA2022-08-31——350,000——
Jonathan BatesRSA2022-08-31——150,000——
Raymond MowRSA2024-08-28——45,000——
Jonathan BatesRSA2024-08-28——75,000——
Raymond MowRSA2022-08-31——850,000——
Erik NelsonRSA2024-08-28——45,000——
03b

Vehicle mix — grant-date fair value by award type

Grant-level vehicle detail not disclosed.

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

05

Incentive-plan design — the Compensation Discussion & Analysis

The Board believes in providing a competitive total compensation package to executives through a combination of base salary, annual performance bonuses, and long-term equity awards, designed to attract, retain, and reward qualified executives while aligning their interests with corporate performance and stockholder interests.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultant—
Clawback policytrue
Anti-hedgingfalse
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-01-15—————

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-01-15—a

a. Voting standard not stated in the filing.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Lori LoveIndependent · Audit (Chair)$0$256,650$0—$0$256,650
Michael MaloneyIndependent · Audit · Investment0230,2500—0230,250
Chi TsangEmployee director · Newly elected—————0
Robert SechanIndependent · Nominating and Corporate Governance · Compensation · Investment · Newly elected——————
Jason EdgeworthIndependent · Compensation · Investment (Chair) · Newly elected——————
Olivia HoweIndependent · Nominating and Corporate Governance · Compensation (Chair) · Newly elected——————
Thomas LeeIndependent · Board Chair · Newly elected——————
David SharbuttIndependent · Audit · Nominating and Corporate Governance (Chair) · Newly elected——————
09

Board fee structure and ownership guideline

Annual cash retainer$0
Annual equity retainer$100,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)125
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$0
Equity awards (grant-date value)$486,900
All other compensation$0
Total cost of the board$486,900

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Bitmine Immersion Technologies2025Jonathan Bates$300,000$367,740$0$0$1,602,740

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10d

Frequently asked questions

Who was the highest-paid executive at Bitmine Immersion Technologies in fiscal 2025?
As disclosed, Jonathan Bates (Former Chief Executive Officer) was the highest-paid executive at Bitmine Immersion Technologies in fiscal 2025, with total compensation of $1,602,740.
How much does Bitmine Immersion Technologies spend in total on board compensation for fiscal 2025?
As disclosed, Bitmine Immersion Technologies reported total board compensation of $486,900 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Jonathan BatesDEF 14A2025-12-090001493152-25-026868Section “Summary Compensation Table” · page 22. As printed: 1,602,740. Filing ↗machine: r1 · c23 · span 302156–302165
2Section 01, Raymond MowDEF 14A2025-12-090001493152-25-026868Section “Summary Compensation Table” · page 22. As printed: 1,011,273. Filing ↗machine: r4 · c23 · span 305103–305112
3Section 01, Erik NelsonDEF 14A2025-12-090001493152-25-026868Section “Summary Compensation Table” · page 22. As printed: 756,273. Filing ↗machine: r7 · c23 · span 308043–308050
4Section 03, Erik Nelson RSADEF 14A2025-12-090001493152-25-026868Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
5Section 03, Jonathan Bates RSADEF 14A2025-12-090001493152-25-026868Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 334146–334153
6Section 03, Raymond Mow RSADEF 14A2025-12-090001493152-25-026868Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 335117–335123
7Section 03, Jonathan Bates RSADEF 14A2025-12-090001493152-25-026868Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 335037–335043
8Section 03, Raymond Mow RSADEF 14A2025-12-090001493152-25-026868Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 334276–334283
9Section 03, Erik Nelson RSADEF 14A2025-12-090001493152-25-026868Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 363401–363407
10Section 08, Lori LoveDEF 14A2025-12-090001493152-25-026868Section “Director Compensation”. As printed: 256,650. Filing ↗machine: span 368268–368275
11Section 08, Michael MaloneyDEF 14A2025-12-090001493152-25-026868Section “Director Compensation”. As printed: 230,250. Filing ↗machine: span 367386–367393
12Section 08, Chi TsangDEF 14A2025-12-090001493152-25-026868Section “Director Compensation”. As printed: 0. Filing ↗
13Section 08, Robert SechanDEF 14A2025-12-090001493152-25-026868Section “Director Compensation”. As printed: —. Filing ↗
14Section 08, Jason EdgeworthDEF 14A2025-12-090001493152-25-026868Section “Director Compensation”. As printed: —. Filing ↗
15Section 08, Olivia HoweDEF 14A2025-12-090001493152-25-026868Section “Director Compensation”. As printed: —. Filing ↗
16Section 08, Thomas LeeDEF 14A2025-12-090001493152-25-026868Section “Director Compensation”. As printed: —. Filing ↗
17Section 08, David SharbuttDEF 14A2025-12-090001493152-25-026868Section “Director Compensation”. As printed: —. Filing ↗
18Section 06, 2026 voteForm 8-K2026-01-200001493152-26-002762Item 5.07 · say-on-pay result. As reported: — (votes for as printed: 140,246,624). Filing ↗
19Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
20Section 09b board cost (computed)Computed——Cash 0 + equity 486,900 + all other 0 = 486,900, summed across the director compensation table rows.machine: formula: Σ = 486,900
21Bitmine Immersion Technologies (subject), Section 10b CEO totalDEF 14A2025-12-090001493152-25-026868CEO total compensation as printed in Bitmine Immersion Technologies's own proxy. As printed: 1,602,740. Filing ↗machine: r1 · c23 · span 302156–302165