Business
LM Funding America, Inc. Provides Monthly Operational and Bitcoin Mining Update for Month Ended March 31, 2024
Total Bitcoin holdings increased to approximately 163.4 BTC as of March 31, 2024, or approximately $11.7 million based on an estimated April 8, 2024, BTC
About this update from Lm Funding America, Inc.
[{"type":"text","content":"Total Bitcoin holdings increased to approximately 163.4 BTC as of March 31, 2024, or approximately $11.7 million based on an estimated April 8, 2024, BTC price of $71,500\nTAMPA, FL, April 09, 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 update for the month ended March 31, 2024. Metrics * One Month January 31, 2024 One Month February 29, 2024 One Month March 31, 2024 Three Months March 31, 2024 Bitcoin Beginning Balance 95.1 126.8 153.6 95.1 Bitcoin Mined, net 31.7 26.8 27.9 86.4 Bitcoin Sold - - (18.0) (18.0) Service Fee (0.1) (0.1) Bitcoin Holdings 126.8 153.6 163.4 163.4 Approximate Miners Deployed at Quarter End 5,950 5,940 5,940 Approximate Deployed Hash Rate at Quarter End (PH/s) 615 614 614 *Unaudited Bruce M. Rodgers, Chairman and CEO of LM Funding, stated, \"Our mining operations continued to deliver solid results in March 2024. We mined enough Bitcoin in excess of operating expenses and were able to pay the purchase price balance owed on our recently acquired Bitmain S21 Antminer machines. As we approach the Bitcoin halving event, expected to occur later this month, we expect to be entering into new hosting agreements reflecting post-halving economic realities and will continue to evaluate additional purchases of Antminer machines to drive our further growth.” The Company estimates the value of its 163.4 Bitcoin holdings at March 31, 2024, was approximately $11.7 million, based on an estimated April 8, 2024, BTC price of $71,500. About LM Funding AmericaLM Funding America, Inc. (Nasdaq: LMFA), together with its subsidiaries, is a cryptocurrency mining business that commenced Bitcoin mining operations in September 2022. The Company also operates a technology-based specialty finance company that provides funding to nonprofit community associations (Associations) primarily located in the state of Florida, as well as in the states of Washington, Colorado, and Illinois, by funding a certain portion of the Associations' rights to delinquent accounts that are selected by the Associations arising from unpaid Association assessments. Forward-Looking StatementsThis press release may contain forward-looking statements made pursuant to the Private Secur...