Bitcoin Production and Mining Update - The company provided a Bitcoin production and mining update for December 2025[6] Operational Results - The press release was issued on January 7, 2026, detailing the company's operational results[6] Risks and Uncertainties - The report includes forward-looking statements that involve risks and uncertainties[9] - Investors are cautioned that actual results may differ materially from projections due to various risks[9] - The company has filed its Annual Report on Form 10-K for the year ended December 31, 2024, which includes additional risk factors[9]

- Bitcoin treasury as of December 31, 2025 valued at $31.4 million or $1.46 per share1 TAMPA, Fla., Jan. 07, 2026 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a Bitcoin treasury and mining company, today announced its preliminary, unaudited Bitcoin mining and operational update for the month ended December 31, 2025. MetricNovember 2025December 2025 - Bitcoin2  - Mined, net6.97.5- Sold--- Purchased-47.0- Service Fee(0.1)-- Bitcoin HODL301.83356.33- Machines2  - ...

来源：市场资讯 （来源：吴说） 吴说获悉，纳斯达克上市比特币矿企与储备公司 LM Funding America（LMFA） 宣布完成一项注册直投 融资，向机构投资者发行普通股及预付认股权证，并配套认股权证，合计募资约 650 万美元。本次发行 综合价格为 0.71 美元/股，相关认股权证行权价同为 0.71 美元，期限为股东批准后 5 年，交易预计于 12 月 22 日 前后完成。 ...

Core Viewpoint - LM Funding America, Inc. has announced a registered direct offering to raise approximately $6.5 million through the sale of common stock and pre-funded warrants, along with accompanying warrants for additional shares [1][2]. Group 1: Offering Details - The company will sell 1,822,535 shares of common stock and 7,332,395 pre-funded warrants, with a combined effective offering price of $0.71 per share or pre-funded warrant [1]. - The warrants will have an exercise price of $0.71 and will be exercisable upon stockholder approval, expiring five years from that date [1]. - The company will also reduce the exercise price of existing warrants from $2.95 to $0.87, subject to stockholder approval, and extend their term to five years [1]. Group 2: Financial Proceeds - The gross proceeds from the offering are estimated to be approximately $6.5 million before deducting fees and expenses [2]. - The offering is expected to close on or about December 22, 2025, pending customary closing conditions [2]. Group 3: Regulatory Information - The securities are being offered under a shelf registration statement on Form S-3, effective since November 21, 2024 [3]. - A prospectus supplement related to the offering will be filed with the SEC, and copies will be available through the SEC's website or from the placement agent [3]. Group 4: Company Overview - LM Funding America, Inc. operates as a Bitcoin treasury and mining company, founded in 2008 and based in Tampa, Florida [5]. - The company also provides funding to nonprofit community associations primarily in Florida through a technology-enabled specialty finance business [5].

TAMPA, Fla., Dec. 18, 2025 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a Bitcoin treasury and mining company, today announced that the first BC40 Elite immersion cooled Foghashing unit at its Oklahoma site has been successfully energized. This first of two planned BC40 Elite units is powering 160 next-generation Bitmain S21 immersion miners, adding approximately 35 Petahash (“PH/s”) to the Company’s total energized hashrate. “We are excited to achieve this in ...

Core Viewpoint - LM Funding America, Inc. reported a preliminary operational update for November 2025, highlighting steady progress in its Bitcoin mining operations despite a slight decrease in Bitcoin production due to strategic energy sales [1][2]. Group 1: Bitcoin Mining Metrics - In November 2025, the company mined a total of 6.9 Bitcoin, down from 7.5 Bitcoin in October 2025 [2]. - The company sold 17.0 Bitcoin in October but did not sell any Bitcoin in November [2]. - The Bitcoin holdings increased from 294.9 Bitcoin in October to 301.8 Bitcoin in November, with an estimated value of approximately $27.5 million based on a Bitcoin price of $91,100 [2][6]. Group 2: Operational Capacity - The total number of mining machines remained constant at 7,930, with 4,320 located in Oklahoma and 2,376 in Mississippi [2]. - The hashrate for the mining operations was stable, with Oklahoma at 0.48 EH/s and Mississippi at 0.23 EH/s, totaling 0.71 EH/s for energized machines [2]. Group 3: Financial Performance - The company generated approximately $76,000 from curtailment and energy sales by strategically reducing mining during a spike in power prices [2]. - The share price of the company was reported at $0.99 as of November 30, 2025, while the Bitcoin value per share was calculated at $2.25 [2]. Group 4: Future Outlook - The company is on track with its 2 MW immersion expansion in Oklahoma, expected to increase total hashrate by nearly 10% by the end of the month [2]. - The management emphasized a disciplined approach to growth and capital allocation, indicating a focus on monitoring market conditions closely [2].

Bitcoin Holdings and Acquisitions - In August 2025, the company raised approximately $21.3 million in net proceeds and purchased 164 Bitcoins, using most of the proceeds for this acquisition[174]. - As of September 30, 2025, Bitcoin represents 100% of the company's treasury holdings, with a total of approximately 225 Bitcoins held by regulated third-party custodians[175][182]. - The company has implemented a formal strategy for acquiring and monetizing Bitcoin holdings, with no specific target for the amount of Bitcoin to hold[175]. - The company maintains theft and fraud insurance covering Bitcoin holdings, with coverage limits of $3 million per occurrence[184]. - The company acquired a Mississippi property for approximately $3.9 million on September 16, 2025, which includes business assets excluding Bitcoin miners[201]. - The company purchased approximately 2,330 Bitcoin miners for an aggregate price of approximately $362,000 on September 16, 2025[202]. - The number of Bitcoins held increased from 150.2 at the beginning of the year to 304.5 by September 30, 2025, reflecting a significant increase in holdings[197]. - The company raised gross proceeds of $24.2 million from equity financing transactions during the nine months ended September 30, 2025, compared to $2.3 million in 2024[248]. - The company purchased $18.7 million in Bitcoin as part of the August 2025 equity raise[246]. Bitcoin Mining Operations - The company's Bitcoin mining operations are conducted through a wholly owned subsidiary, US Digital, which was formed in 2021[176]. - The total projected hashrate at the Oklahoma site increased from 301 PH to 478 PH as of September 30, 2025, with 4,320 installed mining machines[203]. - The company mined 17.6 Bitcoins during the three months ended September 30, 2025, compared to 18.5 Bitcoins for the same period in 2024[195]. - Bitcoin mining revenue for the three months ended September 30, 2025, was driven by 17.6 Bitcoin mined at an average price of approximately $114 thousand, compared to 18.5 Bitcoin at approximately $61 thousand in the same period of 2024[208]. - The average revenue per Bitcoin mined during the three months ended September 30, 2025, was $114,228, compared to $60,944 for the same period in 2024, representing an increase of 87.5%[195]. - Bitcoin mining costs rose by $0.5 million to $1.2 million for the three months ended September 30, 2025, with mining costs as a percentage of digital mining revenue decreasing to 58.6% from 64.8%[210]. - Compensation from curtailment and energy sales was $0.2 million for the three months ended September 30, 2025, compared to nil in the same period of 2024[212]. Financial Performance - The company reported a net loss of $3.7 million for the three months ended September 30, 2025, compared to a net loss of $4.4 million for the same period in 2024, indicating an improvement in financial performance[206]. - Total revenues for the three months ended September 30, 2025, increased by $0.9 million to $2.2 million from $1.3 million for the same period in 2024[207]. - Operating expenses increased by $0.4 million to $5.7 million for the three months ended September 30, 2025, primarily due to fair market adjustments on mined digital assets, which resulted in a gain of $1.0 million[209]. - Net loss for the three months ended September 30, 2025, was $3.7 million, an improvement from a net loss of $4.4 million in the same period of 2024[221]. - Total revenues for the nine months ended September 30, 2025, decreased by $2.5 million to $6.5 million from $9.0 million in the same period of 2024[225]. - Net loss attributable to common shareholders for the nine months ended September 30, 2025, was $9.4 million, compared to $9.7 million in the same period of 2024[241]. - The company reported a net loss of $9.1 million for the nine months ended September 30, 2025, compared to a net loss of $8.2 million in 2024[261]. - The company has a total debt of $7.8 million as of September 30, 2025, compared to $6.8 million at the end of 2024[258]. - The company reported a Core EBITDA loss of $1.65 million for the nine months ended September 30, 2025, compared to a Core EBITDA profit of $0.3 million in 2024[261]. Market and Operational Context - The company's operations are heavily dependent on the price of Bitcoin, which has historically experienced substantial volatility[188]. - The next Bitcoin halving event is anticipated to occur around April 2028, which historically has been associated with significant price movements[189][190]. - As of September 30, 2025, there were approximately 19,930,000 Bitcoins in circulation, with a market capitalization of $2.27 trillion[180]. - The cost of mining one Bitcoin, including miner-related depreciation, was approximately $165,432 for the three months ended September 30, 2025, compared to $144,019 for the same period in 2024[199]. - Net cash used in operations was $8.8 million for the nine months ended September 30, 2025, compared to $8.7 million for the same period in 2024[245]. - Net cash used in investing activities was $16.4 million for the nine months ended September 30, 2025, compared to net cash provided of $4.2 million in 2024[246]. - Net cash provided by financing activities was $22.1 million for the nine months ended September 30, 2025, up from $8.0 million in 2024[247]. - The exercise price of certain warrants was reduced from $2.41 to $1.10, increasing the number of shares issuable upon exercise to 20,931,827[251].

Core Insights - LM Funding America, Inc. reported a quarterly loss of $0.49 per share, consistent with the Zacks Consensus Estimate, compared to a loss of $1.54 per share a year ago [1] - The company posted revenues of $2.18 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 5.3%, but showing an increase from $1.25 million year-over-year [2] - The stock has underperformed, losing approximately 49.3% since the beginning of the year, while the S&P 500 gained 14.6% [3] Financial Performance - The company has surpassed consensus EPS estimates two times over the last four quarters [1] - Revenue estimates for the upcoming quarter are projected at $2 million, with a consensus EPS estimate of -$0.60, and for the current fiscal year, the estimate is -$1.84 on revenues of $8.4 million [7] Market Outlook - The current Zacks Rank for LM Funding America is 3 (Hold), indicating expected performance in line with the market in the near future [6] - The outlook for the Financial - Miscellaneous Services industry is positive, ranking in the top 31% of over 250 Zacks industries, suggesting that stocks in the top 50% outperform those in the bottom 50% by more than 2 to 1 [8]

Financial Data and Key Metrics Changes - For Q3 2025, revenue was $2.2 million, reflecting a 13% sequential increase and a 74% year-over-year increase, driven by stronger average Bitcoin pricing and contributions from the newly operational Mississippi facility [11] - Mining margins improved to 49%, attributed to a shift from hosting fees to self-mining and higher fleet efficiency [11] - The company reported a net loss of $3.7 million and a core EBITDA loss of $1.4 million, primarily due to increased staff costs [11][12] - As of quarter-end, the company held cash and cash equivalents of $300,000 and 304 Bitcoin valued at $34.7 million, nearly double its market cap [12] Business Line Data and Key Metrics Changes - The acquisition of the Mississippi facility added approximately 7.5 MW of energized capacity and 230 petahash of installed hash rate, contributing to a 28% increase in Bitcoin production from September to October [5][9] - The company operates approximately 6,700 machines across its fleet, with additional units staged for deployment [9] Market Data and Key Metrics Changes - By the end of September, the company had approximately 304.5 Bitcoin in treasury, valued at nearly $35 million, compared to a market capitalization of roughly half that amount [5] - The average Bitcoin price during the quarter was $114,000, impacting revenue positively [11] Company Strategy and Development Direction - The company aims to increase Bitcoin per share and grow intrinsic value over time, focusing on disciplined capital allocation and operational control [4][14] - Future strategies include balancing Bitcoin accumulation, strategic investments, and opportunistic share repurchases to enhance per-share value [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term value of Bitcoin and the company's strategy to leverage its operational control and cost efficiency [15] - The Mississippi acquisition is expected to yield further growth, and the company is exploring additional site acquisitions based on energy tariffs [19][22] Other Important Information - The company executed a substantial balance sheet enhancement initiative, completing an $8 million private repurchase of shares and warrants, which improved per-share economics [12] - The current mining cost per Bitcoin was reported at $66,000, down from $70,000 in the previous quarter, indicating improved efficiency [28] Q&A Session Summary Question: Thoughts on the path for Bitcoin mining infrastructure in 2026 - Management highlighted the successful integration of the Mississippi facility and the potential for further growth, with plans for the Oklahoma site to become a long-term mining location due to favorable energy pricing [19] Question: Are there plans for additional site acquisitions? - Management confirmed ongoing exploration for site acquisitions based on energy tariffs, but no immediate plans were in place [22] Question: How to allocate between mining business and acquiring additional Bitcoin? - Management emphasized a long-term strategy, balancing mining growth with treasury strategy, considering future Bitcoin prices rather than current circumstances [23] Question: Management of old machines in storage - Management indicated that old machines are being kept in reserve for quick deployment as power becomes available, aligning with their strategy of upgrading the fleet [26] Question: Current cost of mining one Bitcoin - The current mining cost per Bitcoin was reported at $66,000, reflecting a reduction from the previous quarter [28]

Financial Data and Key Metrics Changes - For Q3 2025, revenue was $2.2 million, reflecting a 13% sequential increase and a 74% year-over-year increase, driven by stronger average Bitcoin pricing of $114,000 and contributions from the newly operational Mississippi facility [11] - Mining margins improved to 49%, attributed to a shift from hosting fees to self-mining and higher fleet efficiency [11] - The company reported a net loss of $3.7 million and a core EBITDA loss of $1.4 million, primarily due to increased staff costs and payroll expenses [11] - As of October 31, the Bitcoin treasury stood at approximately 295 Bitcoin, valued at roughly $31.9 million, or $2.62 per share, compared to a stock price near $1.07 [12] Business Line Data and Key Metrics Changes - Bitcoin production increased by 28% from September to October, rising from 5.9 Bitcoin to 7.6 Bitcoin, reflecting expanded capacity and operational improvements [6][9] - The company moved from a single-site facility with approximately 0.48 exahash in June to roughly 0.71 exahash by the end of October, representing a 50% hash rate expansion [8] Market Data and Key Metrics Changes - The company exited September with approximately 304.5 Bitcoin in treasury, valued at nearly $35 million, highlighting a disconnect between treasury value and market capitalization [5] Company Strategy and Development Direction - The company aims to increase Bitcoin per share and grow intrinsic value over time, focusing on disciplined capital allocation and operational control [4][14] - The acquisition of the Mississippi facility has been successful, and the company plans to expand its capacity there by an additional 4 megawatts [19][20] - The strategy includes balancing Bitcoin accumulation, strategic investments, and opportunistic share repurchases to enhance per-share value [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term value of Bitcoin and the company's ability to endure volatility while scaling into the next cycle [15] - The focus remains on increasing production, efficiency, and Bitcoin per share, with upcoming enhancements from new immersion-cooled machines expected to improve operational efficiency [10][14] Other Important Information - The company executed an $8 million private repurchase of around 3.3 million shares and 7.3 million warrants, which reduced dilution and improved per-share economics [11][12] - The current mining cost per Bitcoin was reported at $66,000, down from $70,000 in the previous quarter, indicating improved cost efficiency [26] Q&A Session Summary Question: Thoughts on the path for Bitcoin mining infrastructure in 2026 - Management noted that the Mississippi acquisition has worked well and there is potential for further growth, with Oklahoma also set to become a long-term mining site due to favorable energy pricing [19] Question: Are there plans for additional site acquisitions? - Management stated that they are always exploring site acquisitions based on energy tariffs and property availability, but nothing appealing is currently in progress [21] Question: How to allocate between mining business and acquiring additional Bitcoin? - Management emphasized a long-term strategy, balancing mining growth with treasury strategy, and making decisions based on future Bitcoin pricing rather than current circumstances [22] Question: Management of old machines in storage - Management indicated that old machines are being kept in reserve for quick deployment as power becomes available, aligning with their strategy of upgrading the fleet [25] Question: Current cost of mining one Bitcoin - The current mining cost per Bitcoin was reported at $66,000, reflecting a reduction from the previous quarter [26]