LM Funding America, Inc. Provides Quarterly Operational and Bitcoin Mining Update for Three Months Ended September 30, 2023
18 10월 2023 - 9:30PM
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 nine months ended September 30, 2023.
Metrics * |
Three Months March 31,
2023 |
Three Months June 30,
2023 |
Three Months September 30, 2023 |
Nine Months September 30, 2023 |
Bitcoin Mined |
91.7 |
106.6 |
117.1 |
315.4 |
Bitcoin Sold |
(64.9) |
(111.0) |
(106.1) |
(282.0) |
Bitcoin Purchased |
2.0 |
- |
- |
2.0 |
Fees |
(0.1) |
(0.1) |
- |
(0.2) |
|
|
|
|
|
Bitcoin Holdings |
83.6 |
79.1 |
90.1 |
90.1 |
|
|
|
|
|
Approximate Miners Deployed at Quarter End |
3,700 |
5,230 |
5,950 |
|
Approximate Deployed Hash Rate at Quarter End (PH/s) |
363 |
543 |
615 |
|
*Unaudited
Bruce M. Rodgers, Chairman and CEO of LM
Funding, stated, “We continue to generate strong sequential growth
in our Bitcoin mining operations, as we execute our strategy of
acquiring and bringing online more mining machines. Specifically,
we added 720 machines in Q3 alone, resulting in a near 10% increase
in Bitcoin mined. This amounted to 117.1 Bitcoin mined, valued at
approximately $3.3 million, using the Q3 average Bitcoin price of
approximately $28,000. Furthermore, during the quarter, we sold
106.1 Bitcoin, generating close to $2.9 million. We continue to
reinvest proceeds of Bitcoin sold into the business. We look
forward to providing additional information on the Company’s
business when we report our Q3 results in the near future.”
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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