Lm Funding America ( (LMFA) ) has released its Q4 earnings. Here is a breakdown of the information Lm Funding America presented to its investors.
LM Funding America, Inc., a Bitcoin mining and technology-based specialty finance company, is headquartered in Tampa, Florida. The company focuses on Bitcoin mining and operates within the cryptocurrency sector, offering a unique approach by managing its own mining infrastructure.
In its latest earnings report, LM Funding America announced a total revenue of $2.0 million for the fourth quarter and $11.0 million for the full year 2024. The company reported a significant improvement in Core EBITDA, reaching $3.3 million for the fourth quarter and $3.9 million for the entire year, driven by gains in Bitcoin valuation and reduced operational costs.
Key financial highlights include the mining of 21.7 Bitcoin during the fourth quarter, generating revenue of approximately $2.0 million. The company also reported a net income of $2.0 million, a turnaround from a net loss of $1.6 million in the previous year. The transition to a vertically integrated mining strategy and the acquisition of a 15 MW site in Oklahoma were pivotal in reducing costs and enhancing operational efficiency.
Operational advancements were marked by the company’s partnership with Luxor Technology Corporation to upgrade its mining fleet with LuxOS firmware, potentially increasing mining efficiency by 10-15%. This strategic move aligns with LM Funding’s goal to improve profitability without additional capital expenditure.
Looking ahead, LM Funding America is poised to leverage its strong balance sheet and efficient operations to expand its mining revenue by acquiring new mining sites. The company’s focus on maintaining a low-cost structure and growing its Bitcoin treasury positions it well for future growth in the cryptocurrency sector.