NEW YORK, Sept. 28, 2023 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced BitMine Immersion Technologies Inc. (OTCQX: BMNR), a blockchain technology company, has qualified to trade on the OTCQX® Best Market. BitMine Immersion Technologies Inc. upgraded to OTCQX from the Pink® market.
BitMine Immersion Technologies Inc. begins trading today on OTCQX under the symbol “BMNR.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
The OTCQX Market provides investors with a premium U.S. public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
“We are excited to reach the milestone of trading on OTCQX, as this will broaden our potential investor base, and make our stock available to a higher percentage of the investing public," confirmed Jonathan Bates, BitMine CEO. "We thank OTC Markets and are very happy to qualify for their highest market tier."
Investment Law Group acted as the company’s OTCQX sponsor.
About BitMine Immersion Technologies Inc.
BitMine is a blockchain technology company that is building out industrial scale digital asset mining, equipment sales and hosting operations. The Company’s primary business is data center focused, both mining Bitcoin for its own account as well as hosting third-party Bitcoin mining servers. Our facilities are primarily designed and constructed for housing advanced mining equipment. Our data centers contain power, racks, proprietary thermodynamic management (heat dissipation and airflow management), redundant connectivity, 24/7 security, as well as software which provide infrastructure management and custom firmware that boost performance and energy efficiency. Our data centers primarily utilize immersion cooling technology. Immersion cooling is the process of submerging computer components (or full servers) in a thermally, but not electrically, conductive liquid (dielectric coolant) allowing higher heat transfer performance than air and many other benefits. Immersion cooling can be up to 95% more efficient than standard air cooling, producing an estimated PUE (power usage effectiveness) of 1.05. This cooler environment has been shown to extend machine lives by 30% or longer.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.
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