LM Funding America Achieves 560 PH/s with 15 MW Oklahoma Mining Site Active

Rhea-AI Summary

LM Funding America (NASDAQ: LMFA) has announced significant progress in its Bitcoin mining operations. The company has successfully deployed 432 petahash per second (PH/s) of miners at its 15 MW Oklahoma mining site. This deployment has expanded the company's total fleet to 5,121 active miners, achieving a total energized hashrate of approximately 560 PH/s across multiple sites.

The Oklahoma site's 432 PH/s capacity can be overclocked, representing a significant operational milestone. The deployment included the successful transition of 1,440 miners from storage to active status. This achievement aligns with the company's previously outlined objectives, and management has indicated plans to pursue additional mining site acquisitions that meet their strategic investment criteria.

Positive

• Successful deployment of 432 PH/s mining capacity at Oklahoma site
• Total fleet expanded to 5,121 active miners
• Achieved 560 PH/s total hashrate across multiple sites
• Successfully transitioned 1,440 miners from storage to active deployment

Negative

• None.

Tampa, FL, Jan. 27, 2025 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFA), (“LM Funding” or the “Company”) a Bitcoin mining and technology-based specialty finance company, today announced the successful deployment of approximately 432 petahash per second (“PH/s”) of miners at its 15 MW mining site in Oklahoma. This expansion increases the Company's total fleet to 5,121 active miners for an energized hashrate of approximately 560 PH/s across multiple sites, of which 432 PH/s can be overclocked at the Oklahoma mining site.

Bruce M. Rodgers, Chairman and CEO of LM Funding America stated, "We are pleased to announce that with the deployment of additional miners at our 15 MW Oklahoma site, we now have approximately 560 PH/s across our mining operations. This marks the achievement of our previously outlined objectives and we plan to aggressively pursue the acquisition of additional mining sites that align with our strategic investment criteria."

Ryan Duran, President of LM Funding America’s US Digital Mining & Hosting Co. subsidiary, stated, "Through the dedicated efforts of our team and strategic partnerships, we successfully met our installation targets. This includes the successful transition of 1,440 miners from storage to active deployment, showcasing our commitment to operational excellence."

About LM Funding America
LM Funding America, Inc. (Nasdaq: LMFA), operates as a Bitcoin 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

FAQ

What is LMFA's current total mining hashrate after the Oklahoma site deployment?

LMFA's total mining hashrate is approximately 560 PH/s across multiple sites following the Oklahoma deployment.

How many active miners does LMFA currently operate as of January 2025?

LMFA operates 5,121 active miners across multiple sites.

What is the capacity of LMFA's new Oklahoma mining site?

LMFA's Oklahoma mining site has a 15 MW capacity and delivers 432 PH/s of mining power that can be overclocked.

How many miners did LMFA transition from storage to active deployment?

LMFA successfully transitioned 1,440 miners from storage to active deployment.