LM Funding America, Inc.’s Bitcoin Holdings Valued at $14.2 Million in Monthly Update

Rhea-AI Summary

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.

Positive

• Bitcoin holdings valued at $14.2 million
• Slight increase in monthly Bitcoin mining from 7.3 to 7.4 BTC
• Maintained stable hash rate at 639 PH/s

Negative

• 78% decrease in monthly Bitcoin mining compared to November 2023 (from 33.8 to 7.4 BTC)
• 37.8% reduction in deployed miners compared to November 2023 (from 5,950 to 3,700)

Insights

Financial Analyst

The latest operational update reveals significant strategic positioning in the crypto mining sector. With 142.2 BTC holdings valued at approximately $14.2 million, LMFA has maintained a strong asset retention strategy despite modest monthly mining output. The month-over-month mining production shows marginal improvement from 7.3 to 7.4 BTC, while the company strategically reduced its selling pressure by decreasing BTC sales from 9.0 to 5.7 units.

The stable hash rate of 639 PH/s with 3,700 deployed miners indicates operational consistency, though the 2,180 miners in transit represent untapped potential for scaling. The company's Bitcoin holdings now represent a significant portion of its market cap, suggesting a leveraged exposure to BTC price movements. This conservative operational approach, combined with substantial crypto assets, positions LMFA as a proxy for Bitcoin price appreciation while maintaining mining operations.

Crypto Market Analyst

The operational metrics demonstrate LMFA's evolving strategy in the crypto mining sector. The company's decision to retain a substantial portion of mined Bitcoin, accumulating 142.2 BTC, aligns with a bullish long-term outlook on Bitcoin's value. The reduced selling pressure, evidenced by lower BTC sales, suggests confidence in Bitcoin's price trajectory and the company's financial stability.

While the monthly mining output remains relatively modest at 7.4 BTC, the consistent hash rate and substantial miners in transit indicate potential for scaling operations. The company's Bitcoin holdings at $14.2 million surpass its market capitalization, effectively making LMFA an leveraged Bitcoin investment vehicle with additional mining upside potential.

TAMPA, Fla., Dec. 10, 2024 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a cryptocurrency mining and technology-based specialty finance company, today provided a preliminary, unaudited Bitcoin mining and operational update for the month ended November 30, 2024.

Metrics *		One Month November 30, 2023			One Month September 30, 2024		One Month October 31, 2024		One Month November 30, 2024
Bitcoin Mined, net		33.8			6.6		7.3		7.4
Bitcoin Sold		(30.0	)		-		(9.0	)	(5.7	)
Service Fee (rounding)		-			0.1		-		-
Bitcoin Holdings at Month End		75.9			142.3		140.5		142.2
Approximate Miners Deployed at Month End		5,950			3,700		3,700		3,700
Approximate Miners In-Transit at Month End					2,180		2,180		2,180
Approximate Potential Hash Rate at Month End (PH/s)		615			639		639		639

*Unaudited

The Company estimates that the value of its 142.2 Bitcoin holdings on November 30, 2024, was approximately $14.2 million, based on an estimated December 6, 2024, BTC price of $100,000.

LM Funding's commitment to enhancing operational efficiency while strategically managing its Bitcoin assets allows it to focus on both mining productivity and asset retention. This strategy allows the Company to position itself for sustained growth and resilience in the competitive cryptocurrency market.

About LM Funding America
LM Funding America, Inc. (Nasdaq: LMFA), operates as a cryptocurrency mining and specialty finance company. It operates through two segments, Specialty Finance and Mining Operations. The company has approximately 5,880 miners, electrified and actively mining Bitcoin, providing the company with approx. 639 petahash of mining capacity. The company was founded in 2008 and is based in Tampa, Florida. For more information, please visit https://www.lmfunding.com.

Forward-Looking Statements
This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guaranties of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company's most recent Annual Report on Form 10-K and its other filings with the SEC, which are available at www.sec.gov. These risks and uncertainties include, without limitation, uncertainty created by the risks of entering into and operating in the cryptocurrency mining business, uncertainty in the cryptocurrency mining business in general, the risk that the above-described acquisition of the Oklahoma mining site may not be successfully completed and the risk that the expected benefits from the acquisition will not be realized or will not be realized within the expected time periods, problems with hosting vendors in the mining business, the capacity of our Bitcoin mining machines and our related ability to purchase power at reasonable prices, the ability to finance and grow our cryptocurrency mining operations, our ability to acquire new accounts in our specialty finance business at appropriate prices, the potential need for additional capital in the future, changes in governmental regulations that affect our ability to collected sufficient amounts on defaulted consumer receivables, changes in the credit or capital markets, changes in interest rates, and negative press regarding the debt collection industry. The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition, and results of operations.

Contact:
Crescendo Communications, LLC
Tel: (212) 671-1021
Email: LMFA@crescendo-ir.com

FAQ

How many Bitcoin did LMFA mine in November 2024?

LMFA mined 7.4 Bitcoin in November 2024.

What is the current value of LMFA's Bitcoin holdings as of November 2024?

LMFA's Bitcoin holdings of 142.2 BTC were valued at approximately $14.2 million based on a BTC price of $100,000.

How many miners does LMFA currently have deployed?

LMFA has approximately 3,700 miners deployed with 2,180 miners in transit as of November 2024.

What is LMFA's current mining hash rate?

LMFA's approximate potential hash rate is 639 PH/s as of November 2024.