Business
LM Funding America, Inc.’s Bitcoin Holdings Valued at $15.0 Million in Monthly Update
Gain on Fair Value of Mined Bitcoin of approximately $4.0 Million in Q4 2024 TAMPA, FL, Jan. 16, 2025 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ:
About this update from Lm Funding America, Inc.
[{"type":"text","content":"Gain on Fair Value of Mined Bitcoin of approximately $4.0 Million in Q4 2024\nTAMPA, FL, Jan. 16, 2025 (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 December 31, 2024. Metrics * One Month December 31, 2023 One Month October 31, 2024 One Month November 30, 2024 One Month December 31, 2024 Bitcoin Mined, net 37.3 7.37.47.0Bitcoin Sold (18.0) (9.0)(5.7)(4.0)Bitcoin Purchased - --5.0Service Fee (rounding) - ---Bitcoin Holdings at Month End 95.2 140.5142.2150.2 Approximate Miners Deployed at Month End 5,950 3,7003,7003,700Approximate Miners In-Storage at Month End 2,1802,1802,180Approximate Potential Hash Rate at Month End (PH/s) 615 639639639 *Unaudited Bruce Rodgers, Chairman and CEO of LM Funding remarked, “We are pleased with the continued progress and performance of our Bitcoin mining operations. As of December 31, 2024, we held 150.2 Bitcoin. In Q4 2024, we anticipate recognizing a Gain on Fair Value of Mined Bitcoin of approximately $4.0 million on our Bitcoin holdings. This result further strengthens our confidence in our strategy and reinforces our belief in Bitcoin's substantial growth potential as we enter 2025.” The Company estimates that the value of its 150.2 Bitcoin holdings on December 31, 2024, was approximately $15.0 million, based on an estimated January 15, 2025, 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 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,...