LM Funding Invests in S21 Bitmain Mining Machines in Advance of 2024 Bitcoin Halving Event
16 Enero 2024 - 7:30AM
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
an agreement to purchase 300 Bitmain S21 Antminer machines for
approximately $1.1 million. The S21 is a high efficiency, high
hash rate machine mining SHA-256 algorithm manufactured by Bitmain
that generates a hash rate of 200 TH/s with a power consumption of
3,500 W. The delivery of the machines is expected during the second
quarter of 2024, and once operational, will bring the Company’s
mining capacity to 674 PH.
Bruce M. Rodgers, Chairman and CEO of LM Funding, commented, “We
remain committed to investing our resources, including the proceeds
of our Bitcoin mining operations, into the most efficient Bitcoin
mining equipment available. Our S21s will be leading
producers through this year’s halving event, and we believe this
model will continue to be revenue-producing through the subsequent
halving event expected to occur in 2028.”
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
LM Funding America (NASDAQ:LMFA)
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