Business
LM Funding America, Inc. Reports First Quarter 2025 Financial Results
- Mined 24.3 Bitcoin for total mining revenue of $2.3 million, up 25.3% sequentially- Operating expenses excluding direct mining costs and depreciation down
About this update from Lm Funding America, Inc.
[{"type":"text","content":"- Mined 24.3 Bitcoin for total mining revenue of $2.3 million, up 25.3% sequentially- Operating expenses excluding direct mining costs and depreciation down 7.7% year-over-year- Held 148.7 Bitcoin on April 30, 2025 valued at approximately $15.5 million, as of May 13, 2025 TAMPA, Fla., May 15, 2025 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a Bitcoin mining and technology-based specialty finance company, today reported financial results for the three months ended March 31, 2025. Q1’25 Financial Highlights Total revenue for the quarter was $2.4 million dollars, up 19.4% sequentially over Q4 2024 and down 48.9% year-over-year. Bitcoin mining revenue accounted for approximately $2.3 million, reflecting a 25.3% sequential increase and a 50.1% decline year-over-year. The Company mined 24.3 Bitcoins during the quarter, up 12.5% sequentially, at an average price of approximately $93,500. The sequential growth was driven by improved operational efficiency from vertical integration and the LuxOS firmware upgrade. The year-over-year decline was primarily due to the April 2024 halving, lower average hash rate and lower uptime from curtailment.The Company generated approximately $150,000 in curtailment and energy sales for the quarter. These proceeds were an offset to digital mining costs, improving operational efficiency and contributing to the Company's margin improvements.Mining margin improved to 38.5%, compared with 31.2% in the fourth quarter 2024, driven by the power sales offsetting power costs, increased operational efficiency from the Company’s vertical integration strategy and LuxOS firmware upgrades.Reduced certain operating expenses, including staff costs & payroll, professional fees, SG&A and other operating costs, by 7.7% year-over-year to $2.0 million.Net loss for the quarter was $5.4 million and Core EBITDA1 loss was $2.8 million, both driven by $1.8 million Bitcoin non-cash write down for fair market value of Bitcoin on the balance sheet as of March 31, 2025 and reduced revenue due to a portion of the Company’s machines nonoperational during the quarter.Cash was approximately $1.0 million and Bitcoin holdings totaled 160.2 Bitcoin, valued at $13.2 million based on Bitcoin price of approximately $82,600, as of March 31, 2025.Net book value of LM Funding stockholders’ equity w...