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LM Funding America, Inc. reports recurring developments as a Bitcoin treasury and mining company with mining operations tied to its Oklahoma and Mississippi sites. Company news commonly covers monthly Bitcoin production, Bitcoin treasury holdings, miner deployments, energized hashrate, immersion-cooled infrastructure, curtailment and energy sales, and operational updates from its US Digital Mining business.
LM Funding also reports financial results, capital actions, and balance-sheet activity related to its mining and treasury strategy. The company maintains a technology-enabled specialty finance business that provides funding to nonprofit community associations primarily in Florida, reflecting its historical specialty finance operations alongside its digital asset business.
LM Funding America (NASDAQ:LMFA) announced the energization of 848 S19J Pro Antminer Mining Machines at Core Scientific's facility in Kentucky. Chairman Bruce M. Rodgers expressed confidence in generating Bitcoin revenue to cover operating costs and reinvesting in further mining operations. The company aims to have all 5,400 machines operational by December 31, 2022, generating approximately 544 petahash annually. Additionally, LMFA has ordered 200 Bitmain S19 XP mining machines, expected to arrive between December 2022 and January 2023.
LM Funding America has entered into a hosting agreement with Core Scientific for 1,200 bitcoin mining machines, complementing its existing contract with Compute North for 4,200 miners. This move, part of LMFA's strategy to diversify hosting partnerships, also includes the purchase of 400 additional S19J Pro Antminers from Bitmain for approximately $1.26 million, raising its total miner fleet to over 5,400 machines. The company's projected total hashrate aims to reach 544 Petahash, reinforcing its commitment to Bitcoin's long-term growth amidst favorable pricing conditions.
LM Funding America (NASDAQ:LMFA) will have its Chairman, President, and CEO, Bruce Rodgers, present at the H.C. Wainwright 24th Annual Global Investment Conference from September 12-14, 2022. Rodgers' presentation is scheduled for September 14 at 11:00 AM ET, accessible to registered attendees via the conference portal. The company focuses on specialty finance for nonprofit community associations and is expanding into cryptocurrency mining through its subsidiary, US Digital Mining and Hosting Co., LLC. A webcast will be available for replay on the company's Investor Relations website.
LM Funding America (LMFA) reported a working capital of $21.2 million and stockholders’ equity of $65.2 million as of June 30, 2022. The company has placed 2,690 Bitcoin miners and aims for over 5,000 miners operational by Q4 2022, resulting in a capacity of 504 petahash. Net income for Q2 2022 was $2.8 million, down from $11.1 million year-over-year, primarily due to a strategic shift to Bitcoin mining. The company recorded an unrealized gain on securities of $12.2 million related to its SPAC interest. A conference call to discuss these results is scheduled for today.
LM Funding America (NASDAQ:LMFA) announced a conference call scheduled for August 17, 2022, at 11:00 a.m. ET to discuss its Q2 2022 financial results ending June 30, 2022, and provide a business update. The company, which focuses on funding nonprofit community associations and is expanding into cryptocurrency mining, aims to highlight its strategic initiatives. Investors can access the call via telephone or through a live webcast, with replays available through August 31, 2022.
LM Funding America, Inc. (NASDAQ: LMFA) announced a new 60-month hosting agreement with a multi-state data hosting company for 4,200 S19J Pro Antminer Machines, which will yield approximately 504 petahash. This could generate around 764 Bitcoins annually starting Q4 2022. CEO Bruce M. Rodgers highlighted resolved supply chain issues and plans to acquire miners at favorable prices due to market disruptions. All mining operations are expected to commence in Q3 2022.
LM Funding America, Inc. (Nasdaq: LMFA) has announced that CEO Bruce M. Rodgers will present at the Digital Assets: Exploring The Metaverse & Crypto Assets Conference on June 23, 2022, at 10:00 a.m. EDT. The conference, hosted by M-Vest and Maxim Group LLC, will address topics including the impacts of rising rates on Bitcoin and NFTs, emerging regulations, and market opportunities. The event will feature virtual panels with industry leaders and is accessible through M-Vest membership. For details, visit their official page.
LM Funding America, Inc. (NASDAQ: LMFA) reported financial results for Q1 2022, revealing a net loss of $5.7 million, contrasting with a net income of $4.4 million in Q1 2021. Revenues rose to $191,000 from $177,000 year-over-year. As of March 31, 2022, cash holdings totaled $24.5 million, with significant investments in cryptocurrency mining. The company expects to receive monthly shipments of 841 mining machines from Bitmain starting June 2022, anticipating its first Bitcoin generation by Q3 2022.
LM Funding America, Inc. (NASDAQ: LMFA) announced its full-year financial results for 2021, highlighting significant steps toward Bitcoin mining and improved capitalization. The company generated $31.5 million from an equity offering to fund its digital asset expansion, including 5,046 ASIC mining machines ordered from Bitmain. Operating revenues decreased to $0.9 million from $1.26 million in 2020, while operating loss rose to $8.4 million. However, net income from continuing operations improved to $5.0 million, up from a loss of $4.1 million in the prior year.
LM Funding America, Inc. (NASDAQ:LMFA) has announced that its Chairman and CEO, Bruce Rodgers, will present at the Blockchain Conference: Trends in the World of NFTs and Crypto, organized by Maxim Group LLC on January 27, 2022, at 10:30 a.m. EST.
His presentation will be part of the 'Crypto Mining' panel, discussing the effects of supply chain shortages and China's cryptocurrency ban on mining. The conference will also cover NFT market opportunities. To attend, individuals can sign up as M-Vest members.