LM Funding America Provides Monthly Operational And Bitcoin Mining Update; Estimates That The Value Of Its 160.5 Bitcoin Holdings On June 30, 2024, Was ~$10.2M
Portfolio Pulse from Benzinga Newsdesk
LM Funding America, Inc. (NASDAQ:LMFA) provided a preliminary, unaudited Bitcoin mining update for June 2024. The company reported holding 160.5 Bitcoins valued at approximately $10.2 million as of June 30, 2024. They have redeployed 3,000 mining machines to a lower-cost site in Oklahoma and are negotiating a $5 million loan to acquire additional miners.
July 16, 2024 | 9:03 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
LM Funding America reported holding 160.5 Bitcoins valued at approximately $10.2 million as of June 30, 2024. The company has redeployed 3,000 mining machines to a lower-cost site and is negotiating a $5 million loan to acquire additional miners.
The increase in Bitcoin holdings and the strategic redeployment of mining machines to lower-cost sites are positive developments for LM Funding America. Additionally, the potential $5 million loan to acquire more miners could further enhance their mining capacity and revenue potential.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100