TAMPA, Fla., Nov. 13, 2024 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by LM Funding America, Inc. (NASDAQ: LMFA), please note that the Balance Sheet table has been updated. The corrected release is as follows: LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a cryptocurrency mining and technology-based specialty finance company, today provided a business update and reported financial results for the three and nine months ended September 30, 2024. Fi ...

TAMPA, Fla., Nov. 13, 2024 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a cryptocurrency mining and technology-based specialty finance company, today provided a business update and reported financial results for the three and nine months ended September 30, 2024. Financial highlights Held 142.3 Bitcoin on September 30, 2024, Valued at Approximately $12.4 Million Based on Recent Bitcoin Price of $87,000Digital mining cost of revenues (exclusive of depreciation ...

Tampa, FL, Nov. 08, 2024 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFA) ("LM Funding" or the "Company"), a cryptocurrency mining and technology-based specialty finance company, today announced that it will host a conference call on Wednesday, November 13, 2024, at 11:00 a.m. Eastern Time to discuss financial results for the quarter ended September 30, 2024, and provide a business update. The conference call will be available via telephone by dialing toll-free +1 888-506-0062 for U.S. callers or ...

Tampa, FL, Oct. 23, 2024 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the promotion of Ryan Duran from Vice President of Operations to President of its digital mining subsidiary, US Digital Mining and Hosting Co LLC. Bruce Rodgers, Chairman and CEO of LM Funding, stated, "As we continue to focus and expand our Bitcoin mining operations, it is clear that strong, dedic ...

TAMPA, Fla., Oct. 17, 2024 (GLOBE NEWSWIRE) -- 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 and operational update for the month ended September 30, 2024. | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------|-----------------------------|----------------------------|--------------------------------|----------------- ...

Tampa, FL, Oct. 10, 2024 (GLOBE NEWSWIRE) -- LM Funding America Inc. (NASDAQ: LMFA) ("LM Funding" or the "Company"), a cryptocurrency mining and a technology-based specialty finance company, today announced that it expects its Bitcoin mining operations to remain unaffected by Hurricane Milton, thanks to the geographic distribution of its miners. The Company fully anticipates its Bitcoin mining operations will continue without any interruptions or damage. Bruce Rodgers, Chairman and CEO of LM Funding, commen ...

TAMPA, Fla., Sept. 25, 2024 (GLOBE NEWSWIRE) -- 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 and operational update for the month ended August 31, 2024. | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------|----------------------------|-----------|-----------------|---------------------- ...

TAMPA, Fla., Aug. 16, 2024 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFA) ("LM Funding" or the "Company"), a cryptocurrency mining and technology-based specialty finance company, today announced that it has entered into a securities purchase agreement with a single institutional investor to purchase 278,000 shares of common stock and 605,000 pre-funded warrants in a registered direct offering, along with Series A warrants to purchase up to an aggregate of 883,000 shares of common stock and Seri ...

Financial Data and Key Metrics Changes - For Q2 2024, total revenue was approximately $3 million, a decrease of $184,000 from the same period last year [9] - Digital mining revenue was relatively flat at $2.9 million in Q2 2024 compared to $3 million in Q2 2023, impacted by the April 2024 Bitcoin halving event [9] - Operating expenses rose to $7.8 million from $6.4 million year-over-year, primarily due to a $1.3 million loss in Bitcoin fair value and a $1.2 million increase in depreciation and amortization costs [9] - The net loss attributable to shareholders was approximately $6.1 million, compared to a net loss of $4.5 million in the prior year [9] - Core EBITDA loss was $2.2 million in Q2 2024, compared to a loss of $0.1 million in Q2 2023, but positive core EBITDA of $2.2 million was achieved for the first half of 2024 [10] Business Line Data and Key Metrics Changes - The company mined 44.1 Bitcoins in Q2 2024, generating $2.9 million in revenue at an average Bitcoin price of $65,600 [8] - As of June 30, 2024, the company held 160.4 Bitcoins, valued at approximately $10 million [8] Market Data and Key Metrics Changes - The company has approximately 5,900 miners providing a total mining capacity of approximately 639 petahash [8] - The Bitcoin halving event in April 2024 reduced miners' rewards by 50%, impacting revenue generation [7] Company Strategy and Development Direction - The company plans to acquire a mining site in Texas with an initial power capacity of 12 megawatts, aiming to expand to 72 megawatts, projected to yield about 1,000 Bitcoins annually [11] - A partnership with Arthur Mining is established to create a new 15-megawatt hosting facility near Oklahoma City, with potential for a new 60-megawatt site [12] - The company secured a $5 million non-convertible loan to acquire additional miners and enhance mining capabilities [13] - The legacy business providing funding to non-profit community associations is expected to grow due to new Florida laws mandating fully funded building maintenance reserves [13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future mining success despite the halving event, highlighting the relocation of miners to cost-effective sites [7] - The focus is on enhancing Bitcoin mining operations in anticipation of the next halving event expected in 2028 [25] Other Important Information - The company is committed to reinvesting mining revenue into purchasing additional cutting-edge miners and integrating sophisticated software and technologies into operations [14] Q&A Session Summary Question: Can you help us get a better read on Texas and Oklahoma just in terms of the build-out? - Management confirmed that both sites will operate using containers, with Texas utilizing immersion containers and Oklahoma using air containers [16] Question: What are you thinking about in terms of power? Are transformers going to be needed at both sites? - Management indicated that transformers are present at both sites, but additional costs will be incurred for further build-out [19] Question: After the 10 months of cost hosting in Oklahoma, what does the deal look like? - Management stated that the hosting will transition to market price after the initial 10 months, with plans to rent the space to others at market rates [21] Question: What is the timeline for transitioning the 3,000 miners? - Management confirmed that the transition took approximately 45 days and all miners are now installed at the new site [22] Question: How will the $5 million loan be allocated? - Management clarified that the loan will be used for both infrastructure and purchasing new machines to support mining capacity [24]

TAMPA, Fla., Aug. 12, 2024 (GLOBE NEWSWIRE) -- 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 and operational update for the month ended July 31, 2024. | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------|----------------------------|-----------------------------|--------------------------|- ...