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. | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------|----------------------------|-----------------------------|--------------------------|- ...

TAMPA, FL, July 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 provided a preliminary, unaudited Bitcoin mining update for the month ended June 30, 2024. *Unaudited Bruce M. Rodgers, Chairman and CEO of LM Funding, stated, "Our mining operations for June 2024 reflect the timely ending of several unfavorable hosting contracts as of May 31, 2024, which allows us to reposition ou ...

TAMPA, FL, July 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 provided a preliminary, unaudited Bitcoin mining update for the month ended June 30, 2024. *Unaudited Bruce M. Rodgers, Chairman and CEO of LM Funding, stated, "Our mining operations for June 2024 reflect the timely ending of several unfavorable hosting contracts as of May 31, 2024, which allows us to reposition ou ...

Core Viewpoint - LM Funding America, Inc. (LMFA) has demonstrated strong momentum with a 27.6% increase over the past 12 weeks and a 38.3% rise in the last four weeks, making it an attractive investment opportunity [1][10]. Valuation Metrics - LMFA is currently trading at a Price-to-Sales ratio of 0.69, indicating that investors are paying 69 cents for each dollar of sales, which is considered a reasonable valuation [2]. Momentum Characteristics - The stock has a beta of 1.31, suggesting it moves 31% more than the market in either direction, indicating fast-paced momentum [5]. - LMFA has a Momentum Score of B, suggesting it is an opportune time to invest in the stock to capitalize on its momentum [13]. Earnings Estimates - An upward trend in earnings estimate revisions has contributed to LMFA earning a Zacks Rank 2 (Buy), which is associated with strong momentum among stocks in this category [11]. Investment Strategy - Momentum investors typically focus on "buying high and selling higher," rather than waiting for stocks to recover from low prices [8]. - The Zacks Momentum Style Score and the 'Fast-Paced Momentum at a Bargain' screen are tools that help identify stocks like LMFA that exhibit strong price momentum while still being attractively priced [9].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 1200 West Platt Street Suite 100 Tampa, Florida 33606 (Address of Principal Executive Offices) (Zip Code) Identification No.) LM FUNDING AMERICA, INC. (Exact name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation) Delaware 001-37605 47-3844457 (Commission File Number) (IRS Employer FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of ...