LM Funding America, Inc. Provides Quarterly Operational and Bitcoin Mining Update for Three Months Ended December 31, 2023
18 Gennaio 2024 - 2:30PM
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 update for the three and twelve months ended
December 31, 2023.
Metrics * |
Three Months March 31, 2023 |
Three Months June 30, 2023 |
Three Months September 30, 2023 |
Three Months December 31, 2023 |
Twelve Months December 31, 2023 |
Bitcoin Mined |
91.7 |
106.6 |
117.1 |
108.0 |
423.4 |
Bitcoin Sold |
(64.9) |
(111.0) |
(106.1) |
(103.0) |
(385.0) |
Bitcoin Purchased |
2.0 |
- |
- |
- |
2.0 |
Fees |
(0.1) |
(0.1) |
- |
- |
(0.2) |
|
|
|
|
|
|
Bitcoin Holdings |
83.6 |
79.1 |
90.1 |
95.1 |
95.1 |
|
|
|
|
|
|
Approximate Miners Deployed at Quarter End |
3,700 |
5,230 |
5,950 |
5,950 |
|
Approximate Deployed Hash Rate at Quarter End (PH/s) |
363 |
543 |
615 |
615 |
|
*Unaudited
Bruce M. Rodgers, Chairman and CEO of LM
Funding, stated, "We continue to make steady progress in our
Bitcoin mining operations. In the fourth quarter alone, we mined
108.0 Bitcoin. Over the same time period, the Company sold 103.0
Bitcoin, generating approximately $3.4 million in proceeds. We
continue to strategically reinvest the proceeds of our Bitcoin
sales back into the business as we position the Company for the
upcoming Bitcoin halving event anticipated to occur during the
first half of 2024."
The Company estimates the value of its 95.1
Bitcoin holdings were approximately $4.0 million as of December 31,
2023.
About LM Funding AmericaLM 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 StatementsThis
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 entering
into and 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, LLCTel: (212)
671-1021Email: LMFA@crescendo-ir.com
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