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LM Funding America Achieves Over 648% Revenue Growth to $13.0 Million for 2023

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LM Funding America, Inc. (LMFA) reported mining 423.4 Bitcoins in 2023, valued at $12.3 million. The company held 153.6 Bitcoins at $10.8 million by February 2024, with revenue increasing by 262% and 648% for the three and twelve months ended December 31, 2023, respectively. Despite a net loss of $1.6 million in Q4 2023, LMFA achieved positive Core EBITDA of $345 thousand, a significant improvement over the previous year.
Positive
  • Significant increase in revenue and Bitcoin mining operations in 2023.
  • Successful adoption of an 'Infrastructure Light' strategy to mitigate market risks.
  • Positive Core EBITDA of $345 thousand for Q4 2023, showing operational improvement.
  • Continued investment in state-of-the-art mining equipment for future growth.
  • Optimistic outlook based on market conditions and Bitcoin's recent performance.
Negative
  • None.

The reported financials from LM Funding America, Inc. indicate a substantial increase in revenue year-over-year, which is a positive sign for investors and analysts monitoring the company's performance. The 648% revenue growth is a significant figure, reflecting the company's successful expansion into Bitcoin mining operations. However, it is important to consider the volatility of cryptocurrency markets when evaluating these results. The price of Bitcoin has historically been prone to rapid and unpredictable changes, which can substantially affect the value of the company's holdings and, by extension, its financial stability.

Furthermore, the company's strategy to invest in mining equipment ahead of the Bitcoin halving event is noteworthy. The halving could potentially lead to an increase in Bitcoin prices due to reduced supply, but it may also increase competition and mining difficulty, which could affect profitability. The company's working capital and stockholders' equity provide a cushion against market fluctuations, but the net loss reported for the last quarter suggests that operational efficiency and cost management need to be closely monitored.

LM Funding's adoption of an 'Infrastructure Light' strategy is a tactical approach aimed at reducing exposure to market risks associated with Bitcoin price fluctuations. By aligning their investments with assets that closely track Bitcoin's value, they may be better positioned to capitalize on the cryptocurrency's price movements. However, this strategy also ties the company's financial health closely to the performance of Bitcoin, which could be a double-edged sword.

As the company prepares for the upcoming Bitcoin halving, it's important to understand the implications of such events on mining profitability. Historically, halvings have led to bullish market sentiment, but they also result in reduced mining rewards. This could necessitate further investment in more efficient mining equipment to maintain revenue streams. The recent all-time high in Bitcoin's price could indicate a growing market optimism, but investors should remain cautious due to the potential for sharp corrections in the cryptocurrency market.

Analyzing the broader impact of LM Funding's performance, it is evident that the company's growth in the cryptocurrency sector may have ripple effects on related industries, such as technology and finance. The demand for advanced mining equipment could incentivize manufacturers to innovate, potentially benefiting the tech industry. On the financial side, the company's success may attract more investors to the cryptocurrency mining space, influencing stock market dynamics.

It is also essential to consider the environmental aspect of cryptocurrency mining, as it becomes an increasing concern for investors. Companies that demonstrate a commitment to sustainable practices may have a competitive advantage. LM Funding's future plans and strategies should address these environmental considerations to align with investor values and regulatory trends.

Mined 423.4 Bitcoins in 2023 Valued at Approximately $12.3 Million at an Average

Market Revenue Value of Approximately $29,000 per Bitcoin

Held 153.6 Bitcoin at February 29, 2024, Valued at Approximately $10.8 Million Based on Recent Bitcoin Price of $70,000

Reports Working Capital of Approximately $7.4 Million and LM Funding Stockholders’ Equity of
$36.2 Million ($14.52 per share) as of December 31, 2023

Conference Call to Be Held Today at 11:00 am ET

TAMPA, Fla., April 01, 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 business update and reported financial results for the three months and full year ended December 31, 2023.

Operational Highlights

  • Approximately 5,900 Bitcoin mining machines in operation at hosting sites as of December 31, 2023
  • Mined 423.4 Bitcoin in 2023, which generated approximately $12.3 million in revenue based on the $29,000 average price of Bitcoin in 2023
  • As of December 31, 2023, held 95.1 Bitcoin valued at approximately $3.4 million
  • As of February 29, 2024, held 153.6 Bitcoin valued at approximately $10.8 million based on recent Bitcoin price of approximately $70,000
  • Revenue for the three and twelve months ended December 31, 2023, increased approximately 262% and 648%, respectively over the same periods last year
  • Net loss for the three months ended December 31, 2023, was $1.6 million as compared to $19.7 million for the 2022 comparable quarter.
  • Achieved positive Core EBITDA (defined below) of $345 thousand for the three months ended December 31, 2023, compared to a Core EBITDA loss of $1.7 million for the same period last year. Core EBITDA is a non-GAAP financial measure, and a reconciliation of Core EBITDA to net loss is set forth below in this press release.

Bruce Rodgers, Chairman and CEO of LM Funding, commented, “We made tremendous progress building our Bitcoin mining operations in 2023, our first full year as a Bitcoin mining company. We are extremely pleased with our results as we mined 423.4 Bitcoins valued at approximately $12.3 million based on the average price of Bitcoin during the year. This success drove an almost 648% increase in the Company’s revenue for the year as compared to 2022. In 2023, we adopted an 'Infrastructure Light' strategy, aiming to lessen market risks and fluctuations by concentrating our investments on Bitcoin and mining devices that closely track Bitcoin's value. Additionally, we continue to purchase state-of-the-art mining equipment in anticipation of the upcoming Bitcoin halving, expected to occur in late April or early May of this year. Considering current market conditions and the future outlook for Bitcoin, which recently reached a new all-time high of approximately $73,800, we remain extremely optimistic about the future, as halving events have historically preceded new all-time high Bitcoin prices in the six months post-halving."

Richard Russell, Chief Financial Officer of LM Funding, further noted, "We ended the year with cash plus Bitcoin, valued as of December 31, 2023, of approximately $5.8 million. Including the Bitcoin that we mined through the end of February 2024, our reported Bitcoin holdings of 153.6 Bitcoin are valued at approximately $10.8 million based on the recent Bitcoin price of approximately $70,000. Our working capital stood at $7.4 million as of December 31, 2023, and the equity of LM Funding shareholders was $36.2 million, or $14.52 per share. Given the strength of our balance sheet, we have not had the need to sell any of our Bitcoin holdings through February 2024 to fund our operations and we remain highly encouraged and optimistic regarding the financial outlook for both Bitcoin and the business.”

Financial Highlights

  • Total revenue for the fourth quarter ended December 31, 2023, was approximately $4.1 million, an increase of $2.9 million, or approximately 262%, compared to $1.1 million for the fourth quarter of 2022. Total revenue for the year ended December 31, 2023, was approximately $13.0 million, an increase of $11.3 million, or more than 648%, from $1.7 million in 2022. These increases were primarily due to digital mining revenue of $3.9 million and $12.3 million in the three months and year ended December 31, 2023, compared with $0.9 million of digital mining revenue for both comparable periods in 2022 as the Company commenced our Bitcoin mining operations in September 2022. The average BTC price for the three and twelve months ended December 31, 2023 used for purposes of recognizing as revenue was approximately $36,500 and $29,000, respectively.
  • Net loss attributable to LM Funding shareholders for the three months ended December 31, 2023, was approximately $1.6 million, which included a $0.5 million non-cash, unrealized gain on investment and equity securities, and a $0.8 million impairment on our previously owned Symbiont assets, compared to a net loss of approximately $19.7 million for the 2022 comparable quarter, which included a $6.6 million non-cash, unrealized loss on investment and equity securities and a $1.1 million impairment on our Symbiont assets. Net loss attributable to LM Funding shareholders for the year ended December 31, 2023, was approximately $15.9 million, which included a $9.8 million non-cash, unrealized loss on investment and equity securities, and a $0.8 million impairment on our previously owned Symbiont assets, compared to a net loss of approximately $29.2 million for the year ended December 31, 2022, which included a $4.4 million non-cash, unrealized gain on investment and equity securities, and a $1.1 million impairment on the Symbiont assets.
  • Positive Core EBITDA for the three months ended December 31, 2023, totaled approximately $0.3 million compared to a Core EBITDA loss of $1.7 million in the prior year's comparable quarter. Core EBITDA loss for the twelve months ended December 31, 2023, totaled approximately $0.2 million, compared with Core EBITDA loss of $6.5 million in 2022. The improvements in Core EBITDA for the three and twelve-month periods ended December 31, 2023, were primarily due to the existence of material Bitcoin mining operations in the current year that did not exist in the prior year. Core EBITDA is a non-GAAP financial measure, and a reconciliation of Core EBITDA to net loss is set forth below in this press release.
  • Cash was approximately $2.4 million, with digital assets of $3.4 million, and working capital of $7.4 million as of December 31, 2023, based on 95.1 BTC at a price of approximately $36,000 as of December 31, 2023. The current BTC market price has fluctuated between $62,000 and $73,000 in recent weeks. In 2023, the Company also received approximately $2.7 million from SeaStar Medical Holdings as a partial repayment of their outstanding note receivable.
  • Total LM Funding stockholders’ equity was approximately $36.2 million, or $14.52 per share, as of December 31, 2023 (with the per-share amount calculated as LMFA stockholders’ equity divided by approximately 2,492,964 shares outstanding as of December 31, 2023).

Investor Conference Call

LM Funding will host a conference call today, April 1, 2024, at 11:00 A.M. Eastern Time to discuss the Company’s financial results for the fourth quarter ended December 31, 2023, as well as the Company’s corporate progress and other developments.

The conference call will be available via telephone by dialing toll-free +1 888-506-0062 for U.S. callers or +1 973-528-0011 for international callers and entering access code 212125. A webcast of the call may be accessed at https://www.webcaster4.com/Webcast/Page/2917/50187 or on the investor relations section of the Company’s website, https://www.lmfunding.com/investors/news-events/ir-calendar.

A webcast replay will be available on the investor relations section of the Company’s website at https://www.lmfunding.com/investors/news-events/ir-calendar through April 1, 2025. A telephone replay of the call will be available approximately one hour following the call, through April 15, 2024, and can be accessed by dialing 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering access code 50187.

About LM Funding America

LM Funding America, Inc., (Nasdaq: LMFA) together with its subsidiaries, is a cryptocurrency mining business that commenced Bitcoin mining operations in September 2022. The Company also operates a technology-based specialty finance company that provides funding to nonprofit community associations (Associations) primarily located in the state of Florida, as well as in the states of Washington, Colorado, and Illinois, by funding a certain portion of the Associations' rights to delinquent accounts that are selected by the Associations arising from unpaid Association assessments.

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 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 collect sufficient amounts on defaulted consumer receivables, changes in the credit or capital markets, changes in interest rates, negative press regarding the debt collection industry, and the risk of pandemics such as the COVID-10 pandemic. 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) 671-1020
Email: LMFA@crescendo-ir.com

(tables follow)


     
LM Funding America, Inc. and Subsidiaries Consolidated Balance Sheets (Audited)
     
  December 31, December 31,
   2023   2022 
     
Assets    
Cash $2,401,831  $4,238,006 
Digital Assets (Note 2)  3,416,256   888,026 
Finance receivables  19,221   26,802 
Marketable securities (Note 5)  17,860   4,290 
Notes receivable from Seastar Medical Holding Corporation (Note 5)  -   3,807,749 
Receivable from sale of Symbiont assets  200,000   - 
Prepaid expenses and other assets  4,067,212   1,233,322 
Income tax receivable  31,187   293,466 
Current assets  10,153,567   10,491,661 
     
Fixed assets, net (Note 3)  24,519,610   27,272,374 
Deposits on mining equipment (Note 4)  20,837   525,219 
Hosting services deposits (Note 4)  -   2,200,452 
Notes receivable from Seastar Medical Holding Corporation (Note 5)  1,440,498   - 
Long-term investments - debt security (Note 5)  -   2,402,542 
Less: Allowance for losses on debt security (Note 5)  -   (1,052,542)
Long-term investments - debt security, net (Note 5)  -   1,350,000 
Long-term investments - equity securities (Note 5)  156,992   464,778 
Investment in Seastar Medical Holding Corporation (Note 5)  1,145,486   10,608,750 
Operating lease - right of use assets (Note 7)  189,009   265,658 
Other assets  86,798   10,726 
Long-term assets  27,559,230   42,697,957 
Total assets $37,712,797  $53,189,618 
     
Liabilities and stockholders' equity    
Accounts payable and accrued expenses  2,064,909   1,570,906 
Note payable - short-term (Note 6)  567,586   475,775 
Due to related parties (Note 9)  22,845   75,488 
Current portion of lease liability (Note 7)  110,384   90,823 
Total current liabilities  2,765,724   2,212,992 
     
Lease liability - net of current portion (Note 7)  85,775   179,397 
Long-term liabilities  85,775   179,397 
Total liabilities  2,851,499   2,392,389 
     
Stockholders' equity (Note 10)    
Preferred stock, par value $.001; 150,000,000 shares authorized; no shares issued and outstanding as of December 31, 2023 and December 31, 2022  -   - 
Common stock, par value $.001; 350,000,000 shares authorized; 2,492,964 shares issued and outstanding as of December 31, 2023 and 2,232,964 as of December 31, 2022  2,493   2,233 
Additional paid-in capital  95,145,376   92,206,200 
Accumulated deficit  (58,961,461)  (43,017,207)
Total LM Funding America stockholders' equity  36,186,408   49,191,226 
Non-controlling interest  (1,325,110)  1,606,003 
Total stockholders' equity  34,861,298   50,797,229 
Total liabilities and stockholders' equity $37,712,797  $53,189,618 
     


LM Funding America, Inc. and Subsidiaries Consolidated Statements of Operations (unaudited)
         
  Three Months Ended December 31, Years Ended December 31,
   2023   2022   2023   2022 
Revenues:        
Digital mining revenues $3,946,485  $903,403  $12,289,131  $945,560 
Specialty finance revenue  75,901   175,853   550,445   626,773 
Rental revenue  33,028   41,378   144,514   161,618 
Total revenues  4,055,414   1,120,634   12,984,090   1,733,951 
Operating costs and expenses:        
Digital mining cost of revenues (exclusive of depreciation and amortization shown below)  2,668,770   994,266   9,406,940   1,033,226 
Staff costs and payroll  1,121,796   6,536,291   5,858,736   19,422,723 
Professional fees  634,535   637,465   1,863,038   3,158,446 
Settlement costs with associations  -   -   10,000   160 
Selling, general and administrative  168,632   188,749   851,806   635,268 
Real estate management and disposal  19,105   34,012   146,716   110,465 
Depreciation and amortization  1,495,614   434,302   4,983,480   478,020 
Collection costs  12,342   (5,524)  29,875   (12,213)
Impairment loss on mined digital assets  143,317   78,924   965,967   79,794 
Realized gain on sale of mined digital assets  (738,526)  -   (2,070,508)  - 
Other operating costs  295,569   1,229,749   999,959   1,504,047 
Total operating costs and expenses  5,821,154   10,128,234   23,046,009   26,409,936 
Operating loss  (1,765,740)  (9,007,600)  (10,061,919)  (24,675,985)
Realized gain (loss) on securities  2,632   -   4,420   (349,920)
Realized gain on convertible debt securities  -   -   -   287,778 
Unrealized gain (loss) on marketable securities  7,134   (19,930)  13,570   (56,830)
Impairment loss on prepaid machine deposits  -   (3,150,000)  (36,691)  (3,150,000)
Impairment loss on prepaid hosting deposits  (184,236)  (1,790,712)  (184,236)  (1,790,712)
Impairment loss on Symbiont assets  -   (1,052,542)  (750,678)  (1,052,542)
Unrealized gain (loss) on investment and equity securities  546,563   (6,610,843)  (9,771,050)  4,423,985 
Impairment loss on digital assets  -   (63,935)  -   (467,406)
Realized gain on sale of purchased digital assets  -   20,254   1,917   20,254 
Loss on disposal of assets  (9,389)  (38,054)  (9,389)  (38,054)
Digital assets other income    -   -   5,658 
Other income - coupon sales  -   -   639,472   - 
Gain on adjustment of note receivable allowance  -   -   1,052,542   - 
Other income - finance revenue  -   -   37,660   - 
Dividend income  -   -   -   3,875 
Interest income, net  38,705   129,731   249,586   394,678 
Credit loss  22,344   -   -   - 
Loss before income taxes  (1,341,987)  (21,583,631)  (18,814,796)  (26,445,221)
Income tax expense  (60,571)  (126,388)  (60,571)  (1,438,066)
Net Loss $ (1,402,558) $ (21,710,019) $ (18,875,367) $ (27,883,287)
Less: loss (income) attributable to non-controlling interest  (189,208)  2,016,385   2,931,113   (1,356,914)
Net loss attributable to LM Funding America Inc. $ (1,591,766) $ (19,693,634) $ (15,944,254) $ (29,240,201)
         
Basic loss per common share $(0.67) $(8.82) $(6.98) $(13.10)
Diluted loss per common share $(0.67) $(8.82) $(6.98) $(13.10)
         
Weighted average number of common shares outstanding        
Basic  2,362,964   2,231,681   2,283,836   2,231,681 
Diluted  2,362,964   2,231,681   2,283,836   2,231,681 
         


LM Funding America, Inc. and Subsidiaries Consolidated Statements of Cash Flows (Audited)
 
  Years ended December 31,
   2023   2022 
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $(18,875,367) $(27,883,287)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization  4,983,480   478,020 
Noncash lease expense  98,536   95,098 
Stock compensation  1,095,705   1,098,331 
Stock option expense  1,843,731   16,571,978 
Accrued investment income  (159,692)  (392,412)
Accrued recovery of legal fees  -   (55,364)
Impairment loss on digital assets  965,967   547,200 
Impairment loss on mining machine deposits  36,691   3,150,000 
Impairment loss on hosting deposits  184,236   1,790,712 
Impairment loss on Symbiont assets  750,678   - 
Unrealized loss (gain) on marketable securities  (13,570)  56,830 
Unrealized loss (gain) on investment and equity securities  9,771,050   (4,423,985)
Loss on disposal of fixed assets  9,389   38,054 
Realized loss (gain) on securities  (4,420)  349,920 
Realized gain on convertible note receivable  -   (287,778)
Realized gain on sale of digital assets  (2,072,425)  (20,254)
Proceeds from securities  744,036   2,565,893 
Convertible debt and interest converted into marketable securities  -   844,882 
Investments in marketable securities  (739,616)  (844,882)
(Reversal of) allowance loss on debt security  (1,052,542)  1,052,542 
Change in operating assets and liabilities:    
Prepaid expenses and other assets  189,407   651,472 
Hosting deposits  (36,691)  (3,202,764)
Repayments to related party  (52,643)  (45,732)
Accounts payable and accrued expenses  177,478   393,260 
Mining of digital assets  (12,289,131)  (945,560)
Proceeds from sale of digital assets  10,874,701   - 
Lease liability payments  (95,948)  (98,569)
Income tax receivable  262,279   (293,466)
Deferred taxes and taxes payable  -   (326,178)
Net cash used in operating activities  (3,404,681)  (9,136,039)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net collections of finance receivables - original product  (6,428)  13,993 
Net collections of finance receivables - special product  14,009   (12,602)
Capital expenditures  (1,625,284)  (15,382)
Investment in notes receivable - Seastar Medical Holding Corporation  (125,000)  (3,753,090)
Collection of notes receivable  2,651,943   - 
Investment in digital assets  (35,157)  (988,343)
Proceeds from sale of purchased digital assets  27,815   518,931 
Financing activities for Symbiont asset acquisition  (402,361)  - 
Symbiont asset sale  1,800,000   - 
Deposits for mining equipment  -   (14,649,614)
Net cash from (used in) investing activities  2,299,537   (18,886,107)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Loan principal and insurance financing repayments  (624,481)  (299,033)
Issue costs from the issuance of common stock  (106,550)  - 
Net cash used in financing activities  (731,031)  (299,033)
NET DECREASE IN CASH  (1,836,175)  (28,321,179)
CASH - BEGINNING OF PERIOD  4,238,006   32,559,185 
CASH - END OF PERIOD $ 2,401,831  $ 4,238,006 
     
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Insurance financing $716,292  $660,120 
ROU assets and operating lease obligation recognized $21,887  $300,787 
Reclassification of mining equipment deposit to fixed assets, net $1,177,226  $26,961,095 
Capital expenditures in accrued liabilities $1,035,374  $718,416 
Reclassification of Reverse stock split $10,859  $- 
     
SUPPLEMENTAL DISCLOSURES OF CASHFLOW INFORMATION    
Cash paid for taxes $-  $2,057,710 
Cash paid for interest $-  $- 
     


NON-GAAP FINANCIAL INFORMATION (unaudited)
Our reported results are presented in accordance with U.S. generally accepted accounting principles (“GAAP”). We also disclose Earnings before Interest, Tax, Depreciation and Amortization ("EBITDA") and Core Earnings before Interest, Tax, Depreciation and Amortization ("Core EBITDA") which adjusts for unrealized loss on investment and equity securities, unrealized gain on convertible debt securities, impairment loss on mined digital assets, impairment of intangible long-lived assets, impairment of prepaid hosting deposits, impairment of mining machine deposits and gain on adjustment of note receivable allowance and stock compensation expense and option expense, all of which are non-GAAP financial measures. We believe these non-GAAP financial measures are useful to investors because they are widely accepted industry measures used by analysts and investors to compare the operating performance of Bitcoin miners.

The following tables reconcile net loss, which we believe is the most comparable GAAP measure, to EBITDA and Core EBITDA:

          
  Years Ended December 31,  Three Months Ended December 31,
   2023   2022    2023   2022 
          
Net income (loss) $(18,875,367) $(27,883,287)  $(1,402,558) $(21,710,019)
Income tax expense  60,571   1,438,066    60,571   126,388 
Interest expense  -   4,416    -   4,416 
Depreciation and amortization  4,983,480   478,020    1,495,614   434,302 
Income (loss) before interest, taxes & depreciation $(13,831,316) $(25,962,785)  $153,627  $(21,144,913)
Unrealized loss (gain) on investment and equity securities  9,771,050   (4,423,985)   (546,563)  6,610,843 
Realized gain on convertible debt securities  -   (287,778)   -   - 
Impairment loss on prepaid mining machine deposits  36,691   3,150,000    -   3,150,000 
Impairment loss on mined digital assets  965,967   79,794    143,317   78,924 
Impairment loss on digital assets  -   467,406    -   63,935 
Impairment loss on Symbiont assets  750,678   1,052,542    -   1,052,542 
Gain on adjustment of note receivable allowance  (1,052,542)  -    -   - 
Impairment loss on prepaid hosting deposits  184,236   1,790,712    184,236   1,790,712 
Stock compensation and option expense  2,939,436   17,670,309    410,584   6,725,592 
Core income (loss) before interest, taxes & depreciation $(235,800) $(6,463,785)  $345,201  $(1,672,365)


FAQ

How many Bitcoins did LM Funding mine in 2023?

LM Funding mined 423.4 Bitcoins in 2023.

What was the value of the Bitcoins mined in 2023?

The Bitcoins mined in 2023 were valued at approximately $12.3 million.

How many Bitcoins did LM Funding hold as of February 29, 2024?

As of February 29, 2024, LM Funding held 153.6 Bitcoins.

What was the revenue increase for LM Funding in the three months ended December 31, 2023?

The revenue increase for LM Funding in the three months ended December 31, 2023, was approximately 262%.

What was the net loss for LM Funding in Q4 2023?

The net loss for LM Funding in Q4 2023 was $1.6 million.

What is Core EBITDA and how much did LM Funding achieve for Q4 2023?

Core EBITDA is a non-GAAP financial measure. LM Funding achieved a positive Core EBITDA of $345 thousand for Q4 2023.

What strategy did LM Funding adopt in 2023 to mitigate market risks?

LM Funding adopted an 'Infrastructure Light' strategy in 2023.

What is LM Funding's outlook based on recent market conditions and Bitcoin's performance?

LM Funding remains extremely optimistic based on current market conditions and Bitcoin's recent performance.

LM Funding America, Inc.

NASDAQ:LMFA

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About LMFA

formed in january 2008, lm funding is a financial services company that provides principal secured funding to condominium associations facing the ramifications of delinquent association dues. we are real estate and legal professionals with over 50 years and more than $1 billion of investment and transactional experience. we believe that condo associations and their owners shouldn’t have to take on the financial responsibility of delinquency and the hassle of collection. that’s why we “buy problems.” before lm funding, condo association owners would have to hire attorneys to collect bad debt. we’re changing that, with a unique business idea that turns debt into instant cash—freeing condo associations from the burden of collection and allowing them to continue to maintain their operations. lm funding’s accumulated delinquent assessment balance is now in excess of $90 million. that is a lot of problems that we’ve bought, and we want more!