2 months ago
18
- 15 MW Oklahoma Mining Site Fully Operational
- Bitcoin HODL valued at $16.1 million as of January 31, 2025
TAMPA, Fla., Feb. 11, 2025 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFA) ("LM Funding” or the "Company”), a Bitcoin mining and technology-based specialty finance company, today announced its preliminary, unaudited Bitcoin mining and operational update for the month ended January 31, 2025.
| Metric | Dec 2024 | Jan 2025 | |
| - Bitcoin1 | |||
| - Mined, net | 7.0 | 8.0 | |
| - Sold | (4.0) | - | |
| - Purchased | 5.0 | - | |
| - Service Fee | - | - | |
| - Bitcoin HODL | 150.2 | 158.2 | |
| - Machines1 | |||
| - Operational | 3,681 | 5,121 | |
| - Storage | 2,159 | 719 | |
| - Total Machines | 5,840 | 5,840 | |
| - Hashrate (EH/s1) | |||
| - Oklahoma | 0.29 | 0.43 | |
| - Hosted | 0.13 | 0.13 | |
| - Energized | 0.42 | 0.56 | |
| - Storage | 0.21 | 0.07 | |
| - Total | 0.63 | 0.63 | |
"The energization of our Oklahoma site and reaching our target of 0.56 active EH/s marks a significant achievement for LM Funding," stated Bruce Rodgers, Chairman and CEO of LM Funding. "Even though we are still a small player in this industry, our disciplined capital allocation, low overhead costs, and strong balance sheet affords us the opportunity to acquire more low-cost energy sites like our Oklahoma site and strategic M&A, while steadily building our Bitcoin holdings. Looking forward, we are pursuing green field and brown field power assets in the 5 to 20 MW range - which don't meet large operators acquisition thresholds - to continue our growth."
Get the latest news
delivered to your inbox
Sign up for The Manila Times newsletters
By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy.
The Company estimates that the value of its 158.2 Bitcoin holdings on January 31, 2025, was approximately $16.1 million, based on a Bitcoin price of approximately $102,000 as of January 31, 2025.
About LM Funding America
LM Funding America, Inc. (Nasdaq: LMFA), operates as a Bitcoin mining and specialty finance company. The company was founded in 2008 and is based in Tampa, Florida. For more information, please visit https://www.lmfunding.com.
Forward-Looking Statements
This 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 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.
For investor and media inquiries, please contact:
Investor Relations
Orange Group
Yujia Zhai
1 Unaudited
