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LM Funding America, Inc. (Nasdaq: LMFA), established in January 2008, is a financial services company focused on providing principal secured funding to nonprofit community associations, primarily in the states of Florida, Washington, Colorado, and Illinois. The company's core business involves purchasing the rights to delinquent accounts arising from unpaid Association assessments, thereby offering immediate cash to the associations and relieving them from the burden of debt collection. This innovative approach has accumulated a delinquent assessment balance exceeding $90 million, showcasing LM Funding's significant impact in the industry.
In September 2022, LM Funding expanded its operations to include cryptocurrency mining, marking a new era for the company. The mining operations have since contributed substantially to the company's revenue, with 423.4 Bitcoins mined in 2023, valued at approximately $12.3 million. The company employs an 'Infrastructure Light' strategy to mitigate market risks, focusing on investments in Bitcoin and mining devices. As of the latest updates, LM Funding's Bitcoin holdings stand at 163.1 BTC, valued at around $11.4 million based on recent market prices.
LM Funding's financial health remains robust with substantial working capital and a strong balance sheet. As of March 31, 2024, the company's working capital was $12.7 million, and equity of shareholders was $38.5 million. The company's strategic partnerships, such as the collaboration with Arthur Mining Inc. for a new 15 MW hosting site near Oklahoma City, further underscore its commitment to expanding its mining capabilities while ensuring cost efficiencies.
Recent achievements include a 648% increase in revenue in 2023 compared to the previous year, driven by the successful integration of cryptocurrency mining. The company is optimistic about the future, particularly with the anticipated benefits of the upcoming Bitcoin halving events. LM Funding continues to explore new opportunities and partnerships to enhance its operational capabilities and maximize shareholder value.
LM Funding America (NASDAQ:LMFA) announced a strategic partnership between its US Digital Mining and Hosting Co (USDM) subsidiary and Luxor Technology to implement LuxOS firmware across its Bitcoin mining fleet. The upgrade, completed in early February 2025, is expected to increase mining efficiency by 10-15% without additional hardware investment.
The implementation aims to optimize machines, boost hashrate, and enhance system reliability across various operational conditions. The upgrade is anticipated to directly improve profitability and extend machine life. The partnership focuses on maximizing uptime and reducing costs while ensuring reliable system operation even in challenging conditions.
LM Funding America (NASDAQ: LMFA) has released its January 2025 operational update, highlighting significant achievements in Bitcoin mining operations. The company's Oklahoma mining site is now fully operational, contributing to a total energized hashrate of 0.56 EH/s. During January 2025, LMFA mined 8.0 Bitcoin and increased its Bitcoin holdings to 158.2, valued at approximately $16.1 million based on a Bitcoin price of $102,000 as of January 31, 2025.
The company's operational metrics show an increase in operational machines from 3,681 to 5,121, while machines in storage decreased from 2,159 to 719. LMFA maintains its strategy of disciplined capital allocation and is actively pursuing additional power assets in the 5 to 20 MW range for continued growth.
LM Funding America (NASDAQ:LMFA), a cryptocurrency mining and technology-based specialty finance company, has announced its participation in the upcoming virtual conference 'Digital Assets 2025: To Bitcoin and Beyond' hosted by Maxim Group The company's Chairman and CEO, Bruce M. Rodgers, will present on Wednesday, February 12th, 2025, at 8:30 AM EST.
The conference will feature a discussion led by Maxim Research Analyst Matthew Galinko, focusing on companies within the digital asset ecosystem, including Bitcoin miners, equipment providers, and corporate crypto treasury adopters. The discussion will explore industry evolution and prospects for 2025, particularly considering upcoming regulatory changes. The event will be streamed live on M-Vest, with registration required for attendance.
LM Funding America (NASDAQ: LMFA) has announced significant progress in its Bitcoin mining operations. The company has successfully deployed 432 petahash per second (PH/s) of miners at its 15 MW Oklahoma mining site. This deployment has expanded the company's total fleet to 5,121 active miners, achieving a total energized hashrate of approximately 560 PH/s across multiple sites.
The Oklahoma site's 432 PH/s capacity can be overclocked, representing a significant operational milestone. The deployment included the successful transition of 1,440 miners from storage to active status. This achievement aligns with the company's previously outlined objectives, and management has indicated plans to pursue additional mining site acquisitions that meet their strategic investment criteria.
LM Funding America (NASDAQ: LMFA) has released its Bitcoin mining update for December 2024. The company held 150.2 Bitcoin valued at approximately $15.0 million as of December 31, 2024, based on an estimated BTC price of $100,000. During Q4 2024, LMFA expects to recognize a Gain on Fair Value of Mined Bitcoin of approximately $4.0 million.
The company's operational metrics show they mined 7.0 Bitcoin in December 2024, sold 4.0 Bitcoin, and purchased 5.0 Bitcoin. LMFA maintained 3,700 miners deployed and 2,180 miners in storage, with an approximate potential hash rate of 639 PH/s at month-end. Compared to December 2023, when they mined 37.3 Bitcoin with 5,950 miners, the current operation reflects adjusted mining capacity.
LM Funding America (NASDAQ: LMFA) has placed an order for 270 Bitmain S21+ mining machines. The new miners, expected to be delivered in March 2025, will be installed at the company's new 15MW Oklahoma Mining site. This addition is anticipated to increase their mining capacity by approximately 58 petahash. Following the relocation of existing machines from storage to the Oklahoma site, the company expects its total active hashrate to reach 562 petahash by January 2025, combining their owned Oklahoma site and hosted mining capacity with Core.
LM Funding America (NASDAQ: LMFA) has released its preliminary, unaudited Bitcoin mining update for November 2024. The company mined 7.4 Bitcoin during the month, sold 5.7 Bitcoin, and held 142.2 Bitcoin valued at approximately $14.2 million as of November 30, 2024. The company maintains approximately 3,700 miners deployed with a potential hash rate of 639 PH/s, while 2,180 miners remain in transit.
The company's operational metrics show a slight increase in Bitcoin mined compared to October 2024 (7.3 BTC) and September 2024 (6.6 BTC), though significantly lower than November 2023 (33.8 BTC). The company's strategy focuses on operational efficiency and strategic management of Bitcoin assets.
LM Funding America (NASDAQ: LMFA) has acquired a 15MW mining site in Oklahoma from Tech Infrastructure JV I for $7.3 million. The site has potential for 60MW expansion and operates at $0.04/kwh power cost. The company has been operating approximately 2,880 S19J Pros at the site since June 2024.
The acquisition involved applying $3.8 million in existing loans and accrued interest, paying $1 million in cash, and escrowing $2.5 million. The facility operates under a 5-year ground lease, with an option to purchase the underlying land. The company expects to achieve 562 petahash combined mining capacity at the Oklahoma site in Q1 2025, complementing their hosted operations with Core Scientific in Kentucky.
LM Funding America (NASDAQ: LMFA), a cryptocurrency mining and technology-based specialty finance company, has announced a warrant exercise agreement with an institutional investor. The investor will exercise 1,736,370 existing warrants at $2.98 per share, generating gross proceeds of $5.1 million for the company.
In exchange, the investor will receive new unregistered warrants to purchase 3,472,740 shares at $2.95 per share, exercisable for five years. Maxim Group is acting as the warrant inducement agent. The new warrants were offered privately to accredited investors, and the company will file a registration statement for the resale of shares issuable upon exercise.
LM Funding America (NASDAQ: LMFA) released its Bitcoin mining update for October 2024. The company mined 7.3 BTC, up from 6.6 in September, and holds 140.5 BTC valued at approximately $13.3 million (based on $94,700 BTC price). The company maintains 3,700 miners deployed with 639 PH/s potential hash rate. Mining production improvements were attributed to more efficient software and improved uptime. The company announced acquisition of a 15 MW mining site in Oklahoma, which will add 5 MW capacity and increase deployed miners to approximately 5,200 units, with plans to expand by additional 60 MW in Q1 2025.
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