Bitmine Immersion Technologies, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended February 28, 2023
April 13, 2023 at 04:06 pm EDT
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Bitmine Immersion Technologies, Inc. reported earnings results for the second quarter and six months ended February 28, 2023. For the second quarter, the company reported sales was USD 0.104526 million compared to USD 0.004574 million a year ago. Revenue was USD 0.15609 million compared to USD 0.349274 million a year ago. Net loss was USD 0.307407 million compared to USD 0.112127 million a year ago. Basic loss per share from continuing operations was USD 0.01.
For the six months, sales was USD 0.133443 million compared to USD 0.004574 million a year ago. Revenue was USD 0.257807 million compared to USD 0.349274 million a year ago. Net loss was USD 0.778071 million compared to USD 0.820883 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.02 a year ago.
Bitmine Immersion Technologies Inc. is a technology company focused on Bitcoin mining using immersion technology, an advanced cooling technique where computers are submerged in specialized oil circulated to keep units operating at optimal ambient temperature. The Company operates in the cryptocurrency mining industry. Its business includes industrial scale digital asset mining, equipment sales and hosting operations. It is engaged in self-mining bitcoin for its own account, as well as hosting third-party equipment used in mining of digital asset coins and tokens, specifically bitcoin. It conducts digital asset mining operations using specialized computers equipped with application-specific integrated circuit chips. Its data centers provide power, racks, thermodynamic management (heat dissipation and airflow management), redundant connectivity, 24/7 security, as well as software which provide infrastructure management and custom firmware that improves performance and energy efficiency.
BITMINE IMMERSION TECHNOLOGIES, INC. 
