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Bitcoin Mined: 24.3 Bitcoins in Q1 2025.
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Bitcoin Mining Revenue: Approximately $2.3 million, up 25% sequentially.
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Mining Margins: Improved from 31.2% in Q4 2024 to 38.5% in Q1 2025.
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Power Sales Revenue: Approximately $150,000 from power sales back to the grid in Q1 2025.
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Net Loss: $5.4 million for Q1 2025.
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Core Loss: $2.8 million, impacted by a $1.8 million non-cash Bitcoin write-down.
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Bitcoin Holdings: 160.2 Bitcoins valued at $13.2 million as of March 31, 2025.
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Cash Position: $1 million at the end of Q1 2025.
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Operating Expenses: Reduced by 7.7% year over year.
Release Date: May 15, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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LM Funding America Inc (NASDAQ:LMFA) successfully transitioned to a vertically integrated Bitcoin mining operator, improving margins and reducing operational risks.
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The company mined 24.3 Bitcoin in the first quarter, enhancing production capabilities and operational efficiency.
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LMFA began monetizing curtailment energy sales, creating a natural hedge against Bitcoin price volatility and reducing operational costs.
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The company achieved a significant reduction in operating expenses, contributing to a leaner and more agile business model.
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LMFA’s Bitcoin holdings are valued at more than 1.5 times its market capitalization, indicating potential undervaluation of the stock.
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Year-over-year revenue declined by 50.5%, largely due to the impact of the previous year’s market conditions.
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The company reported a net loss of $5.4 million for the quarter, driven by a $1.8 million non-cash write-down of Bitcoin.
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Despite improvements, the stock price remains significantly below the calculated value of Bitcoin holdings per share.
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The company faces challenges with international shipping timelines for its expansion projects, potentially delaying growth.
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Technical difficulties during the earnings call highlighted potential communication issues that could affect investor confidence.
Q: Can you discuss the Oklahoma site build-out and any plans for Texas? A: Bruce Rodgers, CEO: Texas has some counterpart issues, so there’s nothing immediate planned there. In Oklahoma, we are operational and converting containers for expansion, which is on schedule. Richard Russell, CFO: We expect the 2 Megawatts machines to be ready to ship from China soon.
Q: After the April sale of the S21 machines, does that address all machines in inventory that were not yet operational? A: Bruce Rodgers, CEO: We sold the S21s, and the plus models are being spread over. Richard Russell, CFO: The net revenue will cover costs, and we are working on hosting and pulling out older models.