LM Funding America, Inc. Reports Preliminary December 2024 Bitcoin Mining Update

LM Funding provides a Bitcoin mining update, reporting increased holdings and hash rate for December 2024.

Quiver AI Summary

LM Funding America, Inc. provided a preliminary operational update for its Bitcoin mining activities for December 2024, reporting the company mined 37.3 Bitcoin and ended the month with a total of 150.2 Bitcoin held, valued at approximately $15 million. The company sold 4 Bitcoin during the month and noted a total of 5,950 miners deployed, maintaining a consistent hash rate of 639 PH/s. CEO Bruce Rodgers expressed satisfaction with their mining operational performance, highlighting an anticipated $4 million gain on the fair value of mined Bitcoin in the fourth quarter of 2024. LM Funding continues to focus on enhancing its operational efficiency while managing its Bitcoin assets strategically, positioning itself for growth in the competitive cryptocurrency market.

Potential Positives

• The Company held 150.2 Bitcoin at the end of December 2024, indicating strong asset retention.
• LM Funding anticipates recognizing a Gain on Fair Value of Mined Bitcoin of approximately $4.0 million in Q4 2024, which reinforces confidence in their operational strategy.
• The estimated value of the Company's Bitcoin holdings was approximately $15.0 million, based on a BTC price of $100,000, highlighting significant asset appreciation.
• LM Funding's increase in deployed miners from 3,700 to 5,950 demonstrates growth in mining capacity, positioning the company for potential operational efficiencies and enhanced productivity.

Potential Negatives

• There is a significant decrease in Bitcoin mined in December 2024 (7.0 Bitcoin) compared to previous months, indicating potential operational inefficiencies.
• The company reported a drop in Bitcoin sold, suggesting challenges in liquidity or a strategic decision that may impact cash flow.
• The press release acknowledges numerous risks and uncertainties associated with their operations, highlighting vulnerabilities in the cryptocurrency market that could adversely affect their business.

FAQ

What is LM Funding America's recent Bitcoin mining update?

LM Funding America reported a Bitcoin mining update for December 2024, with 37.3 Bitcoin mined and 150.2 Bitcoin held at month-end.

How much Bitcoin did LM Funding sell in December 2024?

LM Funding sold 4.0 Bitcoin in December 2024, continuing a trend of strategic asset management.

What is the current estimated value of LM Funding's Bitcoin holdings?

The estimated value of LM Funding's 150.2 Bitcoin holdings as of December 31, 2024, is approximately $15.0 million.

How many miners does LM Funding have deployed?

As of December 31, 2024, LM Funding has approximately 5,950 miners deployed in its operations.

What does LM Funding aim to achieve in the cryptocurrency market?

LM Funding aims to enhance operational efficiency and position itself for sustained growth in the competitive cryptocurrency market.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$LMFA Insider Trading Activity

$LMFA insiders have traded $LMFA stock on the open market 12 times in the past 6 months. Of those trades, 1 have been purchases and 11 have been sales.

Here’s a breakdown of recent trading of $LMFA stock by insiders over the last 6 months:

• ANDREW L. GRAHAM purchased 10,000 shares for an estimated $25,764
• RYAN H DURAN (Vice President of Operations) has made 0 purchases and 11 sales selling 5,500 shares for an estimated $15,193.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$LMFA Hedge Fund Activity

We have seen 5 institutional investors add shares of $LMFA stock to their portfolio, and 4 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• ARMISTICE CAPITAL, LLC added 277,000 shares (+inf%) to their portfolio in Q3 2024, for an estimated $736,820
• VIRTU FINANCIAL LLC removed 21,604 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $57,466
• CITADEL ADVISORS LLC added 6,986 shares (+25.0%) to their portfolio in Q3 2024, for an estimated $18,582
• UBS GROUP AG removed 5,118 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $13,613
• GEODE CAPITAL MANAGEMENT, LLC removed 1,009 shares (-2.3%) from their portfolio in Q3 2024, for an estimated $2,683
• TOWER RESEARCH CAPITAL LLC (TRC) removed 179 shares (-10.7%) from their portfolio in Q3 2024, for an estimated $476
• BANK OF AMERICA CORP /DE/ added 40 shares (+222.2%) to their portfolio in Q3 2024, for an estimated $106

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

TAMPA, 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.

*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 America



LM 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 Statements




This 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 operating in the cryptocurrency mining business, uncertainty in the cryptocurrency mining business in general, problems with hosting vendors in the mining business, the capacity of our Bitcoin mining machines and our related ability to purchase power at reasonable prices, the ability to finance and grow our cryptocurrency mining operations, our ability to acquire new accounts in our specialty finance business at appropriate prices, the potential need for additional capital in the future, changes in governmental regulations that affect our ability to collected sufficient amounts on defaulted consumer receivables, changes in the credit or capital markets, changes in interest rates, and negative press regarding the debt collection industry.  The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition, and results of operations.

Contact:



Crescendo Communications, LLC


Tel: (212) 671-1021


Email: LMFA@crescendo-ir.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.