Bitmine Immersion Technologies, Inc. (BMNR) has terminated its Management Services Agreement (MSA) with Ethereum Tower LLC. The termination was formalized on September 4, 2026, via a Mutual Termination Agreement signed by BMNR Subsidiary One, LLC and Ethereum Tower. The MSA, originally dated March 24, 2026, governed the provision of strategic planning and operational management services for the company's Ethereum staking operations.
Under the terms of the terminated agreement, Ethereum Tower was entitled to a revenue participation fee based on a percentage of net revenue derived from staking operations involving company-owned Ethereum tokens. The MSA included a provision allowing BMNR Subsidiary One to terminate the agreement for convenience with 180 days' prior written notice. The Mutual Termination Agreement waives this notice period and states that the agreement was terminated effective as of the close of business on September 3, 2026. The company did not incur any material early termination penalties in connection with this action.
In a related development, Bitmine's subsidiary entered into a new services agreement with American Validator LLC, an affiliate of Ethereum Tower, effective September 4, 2026. Under this new agreement, American Validator LLC will provide advisory services to the subsidiary regarding its Ethereum staking operations. The fee for these services is set at a simplified rate of 1.50% of staking rewards on Company-staked Ethereum.
