Business
LM Funding America, Inc. Provides Quarterly Operational and Bitcoin Mining Update for Three Months Ended December 31, 2023
Reports Increase in Bitcoin Holdings to 95.1 BTC valued at $4.0 Million at Year End TAMPA, FL, Jan. 18, 2024 (GLOBE NEWSWIRE) -- LM Funding America, Inc.
About this update from Lm Funding America, Inc.
[{"type":"text","content":"Reports Increase in Bitcoin Holdings to 95.1 BTC valued at $4.0 Million at Year End\nTAMPA, FL, Jan. 18, 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 three and twelve months ended December 31, 2023. Metrics * Three Months March 31, 2023 Three Months June 30, 2023 Three Months September 30, 2023 Three Months December 31, 2023 Twelve Months December 31, 2023 Bitcoin Mined 91.7 106.6 117.1 108.0 423.4 Bitcoin Sold (64.9) (111.0) (106.1) (103.0) (385.0) Bitcoin Purchased 2.0 - - - 2.0 Fees (0.1) (0.1) - - (0.2) Bitcoin Holdings 83.6 79.1 90.1 95.1 95.1 Approximate Miners Deployed at Quarter End 3,700 5,230 5,950 5,950 Approximate Deployed Hash Rate at Quarter End (PH/s) 363 543 615 615 *Unaudited Bruce M. Rodgers, Chairman and CEO of LM Funding, stated, \"We continue to make steady progress in our Bitcoin mining operations. In the fourth quarter alone, we mined 108.0 Bitcoin. Over the same time period, the Company sold 103.0 Bitcoin, generating approximately $3.4 million in proceeds. We continue to strategically reinvest the proceeds of our Bitcoin sales back into the business as we position the Company for the upcoming Bitcoin halving event anticipated to occur during the first half of 2024.\" The Company estimates the value of its 95.1 Bitcoin holdings were approximately $4.0 million as of December 31, 2023. 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 Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “pr...