Business
LM Funding America, Inc.’s Bitcoin Holdings Valued at $14.2 Million in Monthly Update
TAMPA, Fla., Dec. 10, 2024 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a cryptocurrency mining and
About this update from Lm Funding America, Inc.
[{"type":"text","content":"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 MonthNovember30, 2023 One MonthSeptember30, 2024 One MonthOctober31, 2024 One MonthNovember30, 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 AmericaLM 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 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 “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 wi...