LM Funding America, Inc. Provides Monthly Operational and Bitcoin Mining Update for Month Ended April 30, 2024
09 Maggio 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 month ended
April 30, 2024.
Metrics * |
One Month January 31,
2024 |
One Month February 29,
2024 |
One Month March 31,
2024 |
One Month April 30,
2024 |
Four Months April 30, 2024 |
Bitcoin Beginning Balance |
95.1 |
126.8 |
153.6 |
163.4 |
95.1 |
Bitcoin Mined, net |
31.7 |
26.8 |
27.9 |
24.7 |
111.1 |
Bitcoin Sold |
- |
- |
(18.0) |
(33.0) |
(51.0) |
Service Fee |
- |
- |
(0.1) |
- |
(0.1) |
Bitcoin Holdings |
126.8 |
153.6 |
163.4 |
155.1 |
155.1 |
|
|
|
|
|
|
Approximate Miners Deployed at Month End |
5,950 |
5,940 |
5,940 |
5,880 |
|
Approximate Deployed Hash Rate at Month End (PH/s) |
615 |
614 |
614 |
639 |
|
*Unaudited
Bruce M. Rodgers, Chairman and CEO of LM Funding, stated, "In
light of the halving, our mining operations delivered solid results
in April 2024. The new state-of-the-art Bitmain S21 200 TH/s
machines were delivered and installed during March and April which
increased our total hashing power to 639 Ph/s.”
The Company estimates the value of its 155.1
Bitcoin holdings on April 30, 2024, was approximately $9.7 million,
based on an estimated May 8, 2024, BTC price of $62,500.
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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