Business
LM Funding America, Inc.’s Bitcoin Holdings was Valued at $9.6 million in Monthly Update
TAMPA, Fla., Oct. 17, 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., Oct. 17, 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 September 30, 2024. Metrics *Three Months 1stQtr. 2024Three Months 2ndQtr. 2024 One Month September 30, 2024Three Months 3rdQtr. 2024 Nine Months Ended September 30, 2024Bitcoin Beginning Balance95.1 163.4 135.7160.4 95.1 Bitcoin Mined, net86.4 44.1 6.618.4 148.9 Bitcoin Sold(18.0) (47.0) -(36.5) (101.5) Service Fee (rounding)(0.1) (0.1) 0.1- (0.2) Bitcoin Holdings at Month End163.4 160.4 142.3142.3 142.3 Approximate Miners Deployed at Month End5,940 5,880 3,700 3,700 Approximate Miners In-Transit at Month End 2,200 2,200 Approximate Potential Hash Rate at Month End (PH/s)614 639 639 639 *Unaudited The Company estimates that the value of its 142.3 Bitcoin holdings on September 30, 2024, was approximately $9.6 million, based on an estimated October 16, 2024 BTC price of $67,500. 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 with the SEC, which are available at www.sec.gov. These risks and uncertainties include, without limitation, uncertainty created by the risks of entering into and operating in the cryptocurrency m...