LM Funding Boosts Mining Capacity with Early Deliveries of Antminers

LMFA -4.26%

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TAMPA, FL - LM Funding America, Inc. (NASDAQ: LMFA), a cryptocurrency mining and specialty finance company, announced today that it will receive 300 Bitmain S21 Antminers soon. The company is expected to deploy new mining hardware in early April, which is expected to increase mining capacity to 673 petahash.

Bitmain S21 Antminers are highly efficient mining rigs with a hash rate of 200 terahashes per second and a power consumption rate of 3,500 watts. They are designed to mine the SHA-256 algorithm, used by Bitcoin and some other cryptocurrencies.

Bruce M. Rodgers, Chairman and CEO of LM Funding, stated that the early deliveries of the S21s, initially scheduled for late March, are a positive development for the company. Rodgers expressed confidence that these machines will contribute significantly to the company's revenue growth, especially in light of the upcoming Bitcoin halving event this year and the next one expected in 2028. .

LM Funding America started Bitcoin mining operations in September 2022 and also operates a special technology-based financial company. This business segment provides financing to nonprofit community associations in Florida, Washington, Colorado and Illinois, by purchasing a portion of the association's rights to delinquent accounts.

The information in this article is based on a press release from LM Funding America, Inc.

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When LM Funding America, Inc. (NASDAQ: LMFA) prepares to expand its cryptocurrency mining operations with the introduction of new Bitmain S21 Antminer machines, the company's financial health and market performance provide a broader context for the investors. With a focus on growth, analysts are predicting an increase in sales this year, in line with the company's expansion efforts in the mining sector. This optimism is reflected in the company's impressive revenue growth over the past twelve months, at 993.94%, showing a significant increase in the company's financial performance.

Investors seeking value may find LMFA's low Price/Book multiple of 0.2 particularly interesting, suggesting the company's shares may be undervalued relative to its assets. This metric often attracts investors looking for potential bargains in the market.

Despite these positive indicators, potential investors should note that LMFA is trading with high price volatility, which may indicate a higher risk profile. The company is also rapidly burning through cash, with an operating margin of -173.77% over the past twelve months, highlighting the need for careful financial management going forward.

For those interested in diving deeper into LM Funding America's financials and future prospects, there are additional InvestingPro Tips available. With the use of coupon code PRONEWS24, readers can get an additional 10% off their annual or bi-annual Pro and Pro+ subscriptions to access these insights, including analytics. analysis of stock performance, profit forecasts, etc

InvestingPro Data's figures show a market capitalization of $7.11 million, highlighting the company's scale in financial markets. The recent significant revenue and profit figures of 17.1% last week could be a sign of positive investor sentiment following the announcement of early mining hardware deliveries.

For investors who want to explore further, there are over ten additional InvestingPro Tips available, providing comprehensive analysis of LMFA's financial health and market trends.

This article was created and translated with the help of AI and has been reviewed by an editor. For more information, see our Terms & Conditions.