In the news release, LM Funding America, Inc. Signs Contract
with GIGA Corporation to Host 1,080 Bitcoin Mining Machines, issued
08-May-2023 by LM Funding America
over PR Newswire, we are advised by the company that all mentions
of "GIGA Corporation" in the headline, first and third paragraphs
be updated to "GIGA Energy Inc." The complete, corrected release
follows:
LM Funding America, Inc. Signs Contract with GIGA Energy Inc. to
Host 1,080 Bitcoin Mining Machines
Machines Expected to be Energized and Mining
by the End of May
TAMPA,
Fla., May 8, 2023 /PRNewswire/ -- LM
Funding America, Inc. (NASDAQ: LMFA) ("LM Funding" or the
"Company"), a cryptocurrency mining and
technology-based specialty finance company, today announced that
the Company has signed a new contract with GIGA Energy Inc. to
host 1,080 of its bitcoin mining machines, all of
which are expected to be electrified and mining by May 31, 2023.
LM Funding also announced it has acquired approximately 14,000
additional terahash in the form of 100 XP machines purchased at a
discount from Bitmain Technologies Limited through its Pizza Day
Raffle promotion These mining machines are expected to be
electrified and mining by May 31,
2023.
Bruce M. Rodgers, Chairman, and
CEO of LM Funding commented, "We are happy to announce that we
signed a new contract with GIGA Energy Inc. to host 1,080 of
our bitcoin mining machines at a site powered by
flaring natural gas. We are told our machines will reduce the
wasted flare gas at the site by 60%." Mr. Rodgers added, "The
acquisition of 100 XP machines through Bitmain's Pizza Day raffle
was a welcome surprise, supporting our intentions to acquire more
energy-efficient machines in the forthcoming quarters in advance of
the next Bitcoin halving in 2024. We expect to have
these machines fully energized and operational by the end of May,
providing LM Funding with total mining capacity of approximately
620 petahash.".
About LM Funding America
LM 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) located in the
state of Florida 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 Statements
This 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 COVID-19 pandemic,
the risks of entering into and operating in the
cryptocurrency mining business, the capacity of
our bitcoin mining machines and our related ability to
purchase power at reasonable prices, and the ability to
finance our planned cryptocurrency mining
operations. 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, LLC
Tel: (212) 671-1021
Email: LMFA@crescendo-ir.com
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SOURCE LM Funding America