Condensed Statements of Operations (Unaudited) GAAP Non-GAAP Three monthsThree months Three months Three months endedended ended ended November 30,November 30, November 30, November 30, 2024 2023 2024 2023 Revenue from the sale of mining equipment $717,147 $169,721 $717,147 $169,721 Revenue from hosting - 11,864 - 11,864 Revenue from self-mining 483,683 329,723 483,683 329,723 Total revenue 1,200,830 511,308 1,200,830 511,308 Total operating expenses 1,004,224 715,962 1,004,224 715,962 Loss from operations (884,018) (611,880) (884,018) (611,880)Other income (expense) Other income (expense), net (90,720) (317,990) (90,720) (317,990)Net loss (974,738) (929,870) (974,738) (929,870)Deemed dividend on Series A Preferred Stock (2,960,648) - - - Net loss attributable to common stockholders $(3,935,386)$(929,870) $(974,738)(a)$(929,870) Basic and diluted (loss) per common share $(0.08)$(0.02) $(0.02)(b)$(0.02) Weighted-average number of common shares outstanding: Basic and diluted 47,422,058 49,748,705 47,422,058 49,748,705 (a) represents non-GAAP adjusted net loss attributable to common shareholders (b) represent non-GAAP adjusted basic and diluted net loss per share First Fiscal Quarter 2025 Financial Highlights (GAAP basis) are as follows: -Q1 2025 revenue versus Q1 2024 revenue increased approximately 135% to $1,200,830 in Q1 2024 compared to $511,308 in Q1 2023 -As of November 30, 2024 we owned 4,640 miners compared to 1,606 owned miners as of November 30, 2023 -Cash (used in) operating activities in Q-1 2025 was $(95,934) compared to $(45,290) in Q-1 2024 -The net loss attributable to common shareholders was $3,935,386 in Q-1 2025 compared with $929,870 in Q-1 2024.
The increase is primarily attributable to a one-time, non-cash deemed dividend of $2,960,648 on Series A Preferred stock, due to anti-dilution reset of the convert price. -Basic and diluted loss per common share was $(0.08) in Q-1 2025 compared to $(0.02) in Q-1 2024 First Quarter 2025 Non GAAP Financial Highlights We have included in this Report measures of financial performance that are not defined by GAAP.
Significantly Increases Deployment of Miners to Benefit from Rapidly Appreciating Bitcoin Prices LAS VEGAS, Jan.13, 2025 (GLOBE NEWSWIRE) -- Bitmine Immersion Technologies, Inc.("Bitmine” or the "Company”) (OTCQX: BMNR), a technology company focused on Bitcoin mining, today announced its operating results and operational update for its first fiscal quarter ended November 30, 2024: Bitmine Immersion Technologies, Inc.
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