BitMine Immersion Technologies Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Leadership Update, Financial Statements and Exhibits
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Item 1.01. Entry into a Material Definitive Agreement.
On January 22, 2026, Bitmine Immersion Technologies, Inc. (the “Company”) entered into a Separation Agreement and General Release (the “Separation Agreement”) with its President, Erik Nelson, memorializing the terms of his separation from the Company. The Company also provided Mr. Nelson notice of his separation on the same date. The Compensation Committee of the Board of Directors and the Board of Directors (the “Board”) each took action on January 22, 2026, to review and approve the Separation Agreement and the separation benefits contemplated thereby.
Under the Separation Agreement, the parties agreed that Mr. Nelson’s employment will terminate without Cause (as defined in the Employment Agreement, made and entered into as of September 1, 2025, by and between the Company and Mr. Nelson (the “Employment Agreement”)) effective as of January 22, 2026.
In consideration of his execution, non-revocation, and continued compliance with the Separation Agreement, Mr. Nelson will receive the following separation payments and benefits:
| ● | A lump sum notice payment of $20,000. | |
| ● | A lump sum severance payment of $585,000. |
The foregoing description of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Separation Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As described above under Item 1.01 of this Current Report on Form 8-K, on January 22, 2026, Mr. Nelson was terminated without Cause (as defined in the Employment Agreement) from his position as President, effective as of January 22, 2026. Mr. Nelson’s termination is not related to a disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. The Board thanks Mr. Nelson for his distinguished service and valuable contributions to the Company. A summary of the material terms of the Separation Agreement is set forth under Item 1.01 above and is incorporated by reference into this Item 5.02.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
| Exhibit No. | Description | |
| 10.1 | Nelson Separation Agreement, dated January 22, 2026. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Bitmine Immersion Technologies, Inc. | ||
| Dated: January 28, 2026 | By: | /s/ Chi Tsang |
| Name: | Chi Tsang | |
| Title: | Chief Executive Officer | |