Welcome to our dedicated page for Lm Fdg Amer news (Ticker: LMFA), a resource for investors and traders seeking the latest updates and insights on Lm Fdg Amer stock.
LM Funding America Inc (LMFA) maintains this dedicated news hub to provide stakeholders with comprehensive updates across its specialty finance and cryptocurrency mining operations. Our curated collection features official press releases, financial disclosures, and strategic announcements from the company.
Key resources include: Quarterly earnings reports detailing performance across both business segments, operational updates on Bitcoin mining capacity expansions, and partnership announcements with community associations. Investors will find timely information about capital allocation strategies and regulatory developments affecting both industries.
This centralized repository enables efficient tracking of LMFA's progress in converting delinquent assessments into working capital through innovative funding solutions, while simultaneously monitoring advancements in its energy-efficient mining infrastructure. Content is organized chronologically showcase the company's dual-sector growth without promotional commentary.
For ongoing monitoring, we recommend this page for bookmarking or RSS subscription. Check regularly for updates on new association partnerships, mining facility optimizations, and financial performance metrics that demonstrate LMFA's unique market position.
LM Funding America (NASDAQ: LMFA) has announced a registered direct offering to raise approximately $2.6 million in gross proceeds. The offering includes 278,000 shares of common stock and 605,000 pre-funded warrants, along with Series A and B warrants for an additional 1,766,000 shares. The combined effective offering price is $2.93 per share or pre-funded warrant, with the same exercise price for the warrants. The offering is expected to close around August 19, 2024, subject to customary conditions. Maxim Group is acting as the sole placement agent. The funds will be used to support LM Funding's operations in cryptocurrency mining and specialty finance.
LM Funding America, Inc. (NASDAQ: LMFA) reported financial results for Q2 2024:
- Mined 44.1 Bitcoins valued at $2.9 million
- Held 160.4 Bitcoins worth $10.0 million as of June 30, 2024
- Total revenue: $3.0 million, down $184,000 year-over-year
- Net loss: $6.6 million, compared to $5.6 million in Q2 2023
- Working capital: $8.4 million
- Cash and Bitcoin: $10.2 million
Key developments:
- Expanded 15 MW hosting facility near Oklahoma City
- LOI for 72 MW site in Texas
- Secured $5 million loan for miner acquisition
- Core EBITDA loss: $2.2 million in Q2, but positive $2.2 million for H1 2024
LM Funding America, Inc. (NASDAQ: LMFA), a cryptocurrency mining and technology-based specialty finance company, has announced a conference call scheduled for August 14, 2024, at 11:00 a.m. Eastern Time. The call will discuss financial results for the quarter ended June 30, 2024, and provide a business update. Investors can access the call via telephone or webcast, with replay options available until August 14, 2025. This event offers stakeholders an opportunity to gain insights into LMFA's recent performance and future outlook in the cryptocurrency mining and specialty finance sectors.
LM Funding America, Inc. (NASDAQ: LMFA) provided a Bitcoin mining update for July 31, 2024. The company held 132.5 BTC, valued at approximately $8.1 million. LMFA announced a Letter of Intent to acquire a mining site in Texas with 12 MW initial capacity and 60 MW expansion potential. The site currently generates 55 petahash using immersion mining. LMFA secured a $5 million non-convertible loan to acquire additional miners and infrastructure. The company aims to leverage its Bitcoin holdings to finance 72 MW of market-priced power for mining or grid resale. This acquisition provides a home for LMFA's existing fleet and introduces immersion mining advantages.
LM Funding America (NASDAQ: LMFA) provided a preliminary, unaudited Bitcoin mining update for June 2024. Key points include:
- Total Bitcoin holdings: 160.5 BTC (approx. $10.2 million) as of June 30, 2024
- Bitcoin mined in June: 5.4 BTC
- Miners deployed at month-end: 1,878
- Potential hash rate: 639 PH/s
The company ended unfavorable hosting contracts on May 31, 2024, and redeployed about 3,000 miners to a lower-cost site in Oklahoma in July. LMFA is exploring a potential $5 million secured loan to acquire additional miners. The company will revalue its Bitcoin holdings quarterly under new 2024 accounting standards.
LM Funding America provided a monthly operational and Bitcoin mining update for May 2024. As of May 31, 2024, the company held approximately 163.1 BTC, valued at around $11.4 million based on a BTC price of $70,000 as of June 7, 2024.
Key metrics included Bitcoin mined (14.0 BTC), Bitcoin sold (6.0 BTC), and an approximate deployed hash rate of 639 PH/s. LM Funding reported deploying approximately 5,880 miners at month-end, with 370 additional machines en route to a new hosting site. Recent agreements, such as the one with Arthur Mining, are expected to enhance mining operations and cost-effective hosting capacity.
LM Funding America (NASDAQ:LMFA) announced a strategic collaboration with Arthur Mining to develop a new 15 MW cryptocurrency hosting site near Oklahoma City. LM Funding will loan $2.5 million to a joint venture, primarily owned by Arthur Mining, to expedite the site's completion by end of June 2024. This agreement includes a hosting contract for 3,000 Bitmain Antminer S19j Pro machines at cost for nine months, promising significant savings. Additionally, LM Funding and Arthur Mining plan to explore a 60 MW site adjacent to the current location for further expansion. The collaboration aims to enhance LM Funding's mining capabilities and profitability through cost-effective and scalable solutions.
LM Funding America reported a significant 105% year-over-year revenue growth to $4.7 million for Q1 2024. The company mined 86.4 Bitcoins valued at $4.6 million with an average price of $53,000 per Bitcoin. They held 163.4 Bitcoins valued at $11.7 million as of March 31, 2024. The net income for Q1 2024 was $1.9 million, a recovery from a $7.2 million loss in the prior year. The company has operating expenses of $4.2 million and a total stockholder equity of $38.5 million. LM Funding plans to enhance its mining capability with new equipment and anticipates positive market conditions post-2024 Bitcoin halving.
LM Funding America, Inc. has scheduled a conference call to discuss their financial results for the first quarter of 2024 and provide a business update. The call will take place on May 16, 2024, at 11:00 a.m. Eastern Time. Investors can join via telephone or webcast. This announcement comes as LM Funding continues its operations in cryptocurrency mining and technology-based specialty finance.
LM Funding America, Inc. provided a monthly operational and Bitcoin mining update for April 2024, reporting a total of approximately 155.1 BTC held as of April 30, 2024, valued at around $9.7 million based on an estimated BTC price of $62,500. The company highlighted the deployment of new mining machines, resulting in an increased hashing power of 639 Ph/s.
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