LM Funding America, Inc. Provides Monthly Operational and Bitcoin Mining Update for Month Ended January 31, 2024
15 Febrero 2024 - 8:00AM
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
January 31, 2024.
Metrics * |
One Month January 31, 2024 |
Bitcoin Beginning Balance |
95.1 |
Bitcoin Mined, net |
31.7 |
Bitcoin Sold |
- |
|
|
Bitcoin Holdings |
126.8 |
|
|
Approximate Miners Deployed at Quarter End |
5,950 |
Approximate Deployed Hash Rate at Quarter End (PH/s) |
615 |
*Unaudited
Bruce M. Rodgers, Chairman and CEO of LM
Funding, stated, "Our Bitcoin mining operations continue to grow
steadily, and in January the Company mined 31.7 Bitcoin, all of
which we chose to hold rather than sell due to the strength of our
balance sheet. We are committed to an infrastructure-light strategy
in our mining operations, focusing on acquiring assets closely
linked to the price of Bitcoin. Recently, we invested in 300
Bitmain S21 Antminer mining machines, the most advanced Bitcoin
mining equipment available, anticipating that their value will
increase alongside the anticipated appreciation in the price of
Bitcoin following a halving event. Historically, the price of
Bitcoin has reached record highs within six months following a
halving event, and the next event is anticipated to occur towards
the end of April or in early May of this year.”
The Company estimates the value of its 126.8
Bitcoin holdings was approximately $5.4 million as of January 31,
2024, based on an estimated January 31, 2024, BTC price of
$42,500. Based upon the price of Bitcoin as of February 14,
2024 (approximately $51,750), the total value of our 126.8 Bitcoin
holdings would be worth approximately $6.6 million.
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
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