LM Funding America, Inc. - LMFA STOCK NEWS

Welcome to our dedicated page for LM Funding America news (Ticker: LMFA), a resource for investors and traders seeking the latest updates and insights on LM Funding America stock.

LM Funding America, Inc. (Nasdaq: LMFA), established in January 2008, is a financial services company focused on providing principal secured funding to nonprofit community associations, primarily in the states of Florida, Washington, Colorado, and Illinois. The company's core business involves purchasing the rights to delinquent accounts arising from unpaid Association assessments, thereby offering immediate cash to the associations and relieving them from the burden of debt collection. This innovative approach has accumulated a delinquent assessment balance exceeding $90 million, showcasing LM Funding's significant impact in the industry.

In September 2022, LM Funding expanded its operations to include cryptocurrency mining, marking a new era for the company. The mining operations have since contributed substantially to the company's revenue, with 423.4 Bitcoins mined in 2023, valued at approximately $12.3 million. The company employs an 'Infrastructure Light' strategy to mitigate market risks, focusing on investments in Bitcoin and mining devices. As of the latest updates, LM Funding's Bitcoin holdings stand at 163.1 BTC, valued at around $11.4 million based on recent market prices.

LM Funding's financial health remains robust with substantial working capital and a strong balance sheet. As of March 31, 2024, the company's working capital was $12.7 million, and equity of shareholders was $38.5 million. The company's strategic partnerships, such as the collaboration with Arthur Mining Inc. for a new 15 MW hosting site near Oklahoma City, further underscore its commitment to expanding its mining capabilities while ensuring cost efficiencies.

Recent achievements include a 648% increase in revenue in 2023 compared to the previous year, driven by the successful integration of cryptocurrency mining. The company is optimistic about the future, particularly with the anticipated benefits of the upcoming Bitcoin halving events. LM Funding continues to explore new opportunities and partnerships to enhance its operational capabilities and maximize shareholder value.

03/25/2024 08:30 AM

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LM Funding America, Inc. Schedules Fourth Quarter 2023 Financial Results and Business Update Conference Call

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LM Funding America, Inc. (LMFA) will host a conference call on April 1, 2024, to discuss financial results for the quarter ended December 31, 2023, and provide a business update. The call will be available via phone and webcast, with replays accessible for a time.

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03/15/2024 08:30 AM

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LM Funding to Take Early Delivery of 300 S21 Bitmain Mining Machines in Advance of 2024 Bitcoin Halving Event

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LM Funding America, Inc. (LMFA) announced the early delivery of 300 Bitmain S21 Antminer machines, increasing mining capacity to 673 PH by early April. The S21s offer high efficiency and hash rate, generating 200 TH/s with a power consumption of 3,500 W. Chairman and CEO, Bruce M. Rodgers, anticipates revenue growth from the upcoming halving events in the cryptocurrency mining sector.

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03/11/2024 08:30 AM

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LM Funding America, Inc. Provides Monthly Operational and Bitcoin Mining Update for Month Ended February 29, 2024

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LM Funding America, Inc. (NASDAQ: LMFA) reported an increase in their total Bitcoin holdings to approximately 153.6 BTC as of February 29, 2024, valued at around $10.4 million based on an estimated BTC price of $68,000 on March 8, 2024. The company mined 26.8 Bitcoin in February, with a total of 150 Bitcoins by the end of the month. LM Funding has not sold any Bitcoin to fund operations due to a strong balance sheet and plans to continue deploying more mining machines to increase value for shareholders.

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03/08/2024 08:30 AM

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LM Funding Announces 1-for-6 Reverse Stock Split to Ensure Compliance with Nasdaq Continued Listing Requirements and to Attract a Broader Audience of Investors

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LM Funding America, Inc. announces a 1-for-6 reverse stock split to comply with Nasdaq listing requirements. The company reports strong business fundamentals with 1700% year-over-year revenue growth in Q3 2023. Shareholders' equity was $35.9 million as of September 30, 2023. The reverse split aims to attract more investors and tighten the public float.

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02/15/2024 09:00 AM

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LM Funding America, Inc. Provides Monthly Operational and Bitcoin Mining Update for Month Ended January 31, 2024

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LM Funding America, Inc. (NASDAQ: LMFA) reports an increase in Bitcoin holdings to approximately 126.8 BTC, valued at around $5.4 million as of January 31, 2024. The company mined 31.7 Bitcoin in January, choosing to hold them for future appreciation. With a focus on acquiring assets linked to Bitcoin's price, LM Funding invested in advanced mining equipment to capitalize on potential price increases post-halving events.

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01/25/2024 08:30 AM

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LM Funding to Present at the Microcap Conference in Atlantic City

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LM Funding America, Inc. (NASDAQ: LMFA) announced their participation at The Microcap Conference from January 30 to February 1, 2024. Bruce M. Rodgers, Chairman and CEO, will present on January 31st and February 1st. The company will also engage in one-on-one meetings with investors. To register, visit the provided link.

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01/18/2024 08:30 AM

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LM Funding America, Inc. Provides Quarterly Operational and Bitcoin Mining Update for Three Months Ended December 31, 2023

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LM Funding America, Inc. (LMFA) reports an increase in Bitcoin holdings to 95.1 BTC valued at $4.0 million at year-end. The company provided a preliminary, unaudited Bitcoin mining update for the three and twelve months ended December 31, 2023, showing steady progress in Bitcoin mining operations and strategic reinvestment of proceeds from Bitcoin sales.

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01/16/2024 08:30 AM

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LM Funding Invests in S21 Bitmain Mining Machines in Advance of 2024 Bitcoin Halving Event

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LM Funding America, Inc. (LMFA) has announced the purchase of 300 Bitmain S21 Antminer machines for $1.1 million, expected to be delivered in the second quarter of 2024. This investment will increase the company's mining capacity to 674 PH, with the CEO expressing confidence in the revenue-producing potential of the new equipment.

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12/28/2023 09:00 AM

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LM Funding Sells Symbiont's Blockchain Technology to Platonic Holdings Inc.

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LM Funding America, Inc. (NASDAQ: LMFA) has strengthened its balance sheet by selling Symbiont's blockchain technology for $2 million to Platonic Holdings Inc. This sale will provide additional resources to purchase new mining machines in preparation for the expected Bitcoin halving event in Q2 2024. The sale price includes $200,000 held in escrow until December 26, 2024. LM Funding acquired Symbiont.IO's assets as debtor in possession in its Chapter 11 bankruptcy case, recorded on the Company’s books for $2 million. The deal closed on December 27, 2023, and the Chairman and CEO, Bruce M. Rodgers, expressed optimism about the transaction's impact on the Company's growth and balance sheet strength.

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11/15/2023 08:30 AM

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LM Funding America, Inc. Achieves Over 1,720% Year-Over-Year Revenue Growth to $3.4 Million

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LM Funding America, Inc. (NASDAQ: LMFA) Mined 117.1 Bitcoins in Q3 2023, Generating Approximately $3.3 Million in Revenue. The company focuses on Bitcoin mining machines that track the value of Bitcoin, reporting a working capital of $4.5 million and stockholders’ equity of $35.9 million. The average BTC price for the quarter recognized as revenue was approximately $28,000, with a sequential quarterly revenue increase of 7.0% from the three months ended June 30, 2023.

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FAQ

What does LM Funding America, Inc. do?

LM Funding America, Inc. provides principal secured funding to nonprofit community associations by purchasing their rights under delinquent accounts arising from unpaid Association assessments.

When did LM Funding America start Bitcoin mining?

LM Funding America commenced Bitcoin mining operations in September 2022.

What are LM Funding America's main products?

LM Funding America's main products include the Original Product and New Neighbor Guaranty, which provide funding to Associations based on their rights to delinquent accounts.

How much Bitcoin did LM Funding mine in 2023?

In 2023, LM Funding mined 423.4 Bitcoins valued at approximately $12.3 million.

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

As of the latest updates, LM Funding's Bitcoin holdings are approximately 163.1 BTC, valued at around $11.4 million.

What is LM Funding's strategy for its Bitcoin mining operations?

LM Funding employs an 'Infrastructure Light' strategy, focusing on investments in Bitcoin and mining devices to mitigate market risks.

Where does LM Funding operate its specialty finance business?

LM Funding operates its specialty finance business primarily in Florida, as well as in Washington, Colorado, and Illinois.

What recent partnerships has LM Funding announced?

LM Funding recently announced a strategic collaboration with Arthur Mining Inc. to develop a new 15 MW hosting site near Oklahoma City and plans to explore a new 60 MW site.