TAMPA, FL – LM Funding America, Inc. (NASDAQ:LMFA), a cryptocurrency mining and specialty finance firm, today announced that it will take early delivery of 300 Bitmain S21 Antminer machines. The company expects to deploy the new mining hardware in early April, which is expected to improve its mining capacity to 673 petahash.
The Bitmain S21 Antminers are highly efficient mining rigs with a hash rate of 200 terahash per second and a power consumption rate of 3500 watts. They are designed to mine the SHA-256 algorithm, which is used by several other cryptocurrencies.
Bruce M. Rodgers, president and CEO of LM Funding, said the early delivery of the S21s, originally scheduled for late March, is a positive development for the company. Rodgers expressed confidence that these machines will contribute significantly to the company's revenue growth, especially during the upcoming Bitcoin halving event this year and the subsequent one projected for 2028.
LM Funding America began its Bitcoin mining operations in September 2022 and also operates a specialized technology-based financial company. This segment of the business provides financing to nonprofit community associations in Florida, Washington, Colorado and Illinois by purchasing a portion of the associations' rights to delinquent accounts.
The information contained in this article is based on a press release from LM Funding America, Inc.
InvestingPro Insights
As 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 broader context for the investors. With a focus on growth, analysts anticipate an increase in sales for the current year, aligning 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, amounting to 993.94%, demonstrating a substantial increase in the company's financial activity.
Value investors might find LMFA's low Price-to-Book multiple of 0.2 particularly interesting, suggesting that the company's stock 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 be aware that LMFA trades with high price volatility, which could indicate a higher risk profile. The company is also rapidly burning through cash, with an operating income margin of -173.77% in the trailing twelve months, underscoring the need for careful financial management going forward.
For those looking to delve deeper into the financials and future prospects of LM Funding America, there is additional information InvestingPro Tips available. With the use of the coupon code FORECASTS24Readers can get an additional 10% off an annual or bi-annual Pro and Pro+ subscription to access this information, including stock performance analysis, profitability forecasts, and more.
InvestingPro Data metrics reveal a market capitalization of $7.11 million, highlighting the company's size in the financial markets. The revenue figures and the recent significant return of 17.1% over the past week could be indicative of positive investor sentiment following the announcement of early delivery of mining hardware.
For investors who want to explore further, there are more than ten additional options. InvestPro Tips available, offering a comprehensive analysis of the financial health and trends of the LMFA market.
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