LM Funding America, Inc.’s Bitcoin Holdings Valued at $15.0 Million in Monthly Update
Rhea-AI Summary
LM Funding America (NASDAQ: LMFA) has released its Bitcoin mining update for December 2024. The company held 150.2 Bitcoin valued at approximately $15.0 million as of December 31, 2024, based on an estimated BTC price of $100,000. During Q4 2024, LMFA expects to recognize a Gain on Fair Value of Mined Bitcoin of approximately $4.0 million.
The company's operational metrics show they mined 7.0 Bitcoin in December 2024, sold 4.0 Bitcoin, and purchased 5.0 Bitcoin. LMFA maintained 3,700 miners deployed and 2,180 miners in storage, with an approximate potential hash rate of 639 PH/s at month-end. Compared to December 2023, when they mined 37.3 Bitcoin with 5,950 miners, the current operation reflects adjusted mining capacity.
Positive
- Bitcoin holdings increased to 150.2 BTC, valued at $15.0 million
- Expected Q4 2024 gain of $4.0 million on Fair Value of Mined Bitcoin
- Strategic Bitcoin retention with reduced selling (4.0 BTC) compared to previous months
Negative
- Monthly Bitcoin mining production decreased to 7.0 BTC in December 2024 from 37.3 BTC in December 2023
- Reduced mining capacity with 3,700 miners deployed vs 5,950 in December 2023
News Market Reaction 1 Alert
On the day this news was published, LMFA declined 0.95%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Gain on Fair Value of Mined Bitcoin of approximately
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.
| 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 | 7.3 | 7.4 | 7.0 | ||
| Bitcoin Sold | (18.0) | (9.0) | (5.7) | (4.0) | ||
| Bitcoin Purchased | - | - | - | 5.0 | ||
| Service Fee (rounding) | - | - | - | - | ||
| Bitcoin Holdings at Month End | 95.2 | 140.5 | 142.2 | 150.2 | ||
| Approximate Miners Deployed at Month End | 5,950 | 3,700 | 3,700 | 3,700 | ||
| Approximate Miners In-Storage at Month End | 2,180 | 2,180 | 2,180 | |||
| Approximate Potential Hash Rate at Month End (PH/s) | 615 | 639 | 639 | 639 |
*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
The Company estimates that the value of its 150.2 Bitcoin holdings on December 31, 2024, was approximately
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
FAQ
How many Bitcoin did LMFA mine in December 2024?
What is the current value of LMFA's Bitcoin holdings as of December 2024?
How many miners does LMFA currently have deployed?
What gain does LMFA expect to recognize from Bitcoin mining in Q4 2024?
How has LMFA's Bitcoin mining production changed from December 2023 to December 2024?
