On December 11, 2025, Bitmine Immersion Technologies, Inc. (the ?Company?) entered into a Separation Agreement and General Release (the ?Separation Agreement?) with its Chief Financial Officer, Raymond Mow, memorializing the terms of his transition and separation from the Company. The Company also provided Mr. Mow notice of his separation on the same date. The Compensation Committee of the Board of Directors (the ?Committee?) and the Board of Directors (the ?Board?) each took action on December 11, 2025, to review and approve the Separation Agreement and the separation benefits contemplated thereby.
Under the Separation Agreement, the parties agreed that Mr. Mow?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. Mow (the ?Employment Agreement?)) effective January 16, 2026 (the ?Separation Date?). Through the Separation Date, Mr. Mow will continue to serve during a defined transition period performing his day-to-day duties as Chief Financial Officer and the transition tasks set forth in Exhibit A to the Separation Agreement, subject to the Company?s discretion to modify responsibilities during the transition period. On December 5, 2025, Mr. Mow provided notice of his resignation from his position as Chief Financial Officer, effective as of the Separation Date.
Mr. Mow?s resignation is not related to a disagreement with the Company on any matter relating to the Company?s operations, policies, or practices.
