LM Funding to Take Early Delivery of 300 S21 Bitmain Mining Machines in Advance of 2024 Bitcoin Halving Event
15 Março 2024 - 9:30AM
LM Funding America, Inc. (NASDAQ:LMFA) ("LM Funding" or the
“Company") a cryptocurrency mining and technology-based
specialty finance company, today announced that it will take early
delivery of the previously announced purchase of 300 Bitmain S21
Antminer machines. The S21 is a high efficiency, high hash
rate machine mining SHA-256 algorithm manufactured by Bitmain that
generates a hash rate of 200 TH/s with a power consumption of 3,500
W.
Bruce M. Rodgers, Chairman and CEO of LM Funding, commented, “We
are pleased that we will be able to take delivery of the S21s
earlier than originally expected, by the end of March. We plan to
locate, energize, and commence mining with these new machines by
early April, which will increase the Company’s mining capacity to
673 PH. The S21s will be leading producers through this year’s
halving event and contribute to long-term revenue growth leading up
to and beyond the subsequent halving event expected to occur in
2028.”
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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