LM Funding America Inc (LMFA) Q3 2024 Earnings Call Highlights: Navigating Challenges and ...

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Bitcoin Mining Machines: 3,700 in operation, 2,200 awaiting redeployment, totaling 5,900 miners. Mining Capacity: Approximately 639 Petahash. Bitcoins Mined: 18.5 bitcoins in Q3 2024. Revenue from ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLM Funding America Inc (LMFA) Q3 2024 Earnings Call Highlights: Navigating Challenges and ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-14 15:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/lm-funding-america-inc-lmfa-071328131.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitcoin Mining Machines: 3,700 in operation, 2,200 awaiting redeployment, totaling 5,900 miners.\nMining Capacity: Approximately 639 Petahash.\nBitcoins Mined: 18.5 bitcoins in Q3 2024.\nRevenue from ...</p>\n\n<a href=\"https://finance.yahoo.com/news/lm-funding-america-inc-lmfa-071328131.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LMFA","symbol_name":"LM Funding America, Inc","start_time":0,"source_url":"https://finance.yahoo.com/news/lm-funding-america-inc-lmfa-071328131.html","article_id":"2483843704","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/iH7dkjITyvad2yVQVJZwEQ--~B/aD0xOTg7dz0xOTg7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/5daed414deb3c32a2cf78f75712d8913"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483843704","pubTimestamp":1731568408,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Bitcoin Mining Machines: 3,700 in operation, 2,200 awaiting redeployment, totaling 5,900 miners.Revenue from Bitcoin Mining: Approximately $1.1 million at an average Bitcoin price of $61,000.Total Revenue: Approximately $1.3 million for Q3 2024, a decrease of $2.1 million year-over-year.Operating Expenses: Decreased to $5.6 million from $6.6 million year-over-year.Net Loss: $1.6 million in Q3 2024, compared to $0.6 million in Q3 2023.EBITDA: Positive $0.6 million for the first nine months of 2024.Bitcoin Holdings: 142.3 bitcoins valued at approximately $12.4 million as of November 11, 2024.GuruFocus has detected 3 Warning Signs with LMFA.LM Funding America Inc  has strategically shifted its mining operations to more cost-effective facilities following the Bitcoin halving event, which is expected to enhance operational efficiency.LMFA achieved positive EBITDA for the first nine months of 2024, amounting to $0.6 million, driven by expanded Bitcoin operations.The Florida real estate marke","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"LMFA":"LM Funding America, Inc"},"translate_title":"LM Funding America Inc(LMFA)2024年第三季度收益看涨期权亮点：应对挑战和……","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LMFA":1},"content_text":"Bitcoin Mining Machines: 3,700 in operation, 2,200 awaiting redeployment, totaling 5,900 miners.\nMining Capacity: Approximately 639 Petahash.\nBitcoins Mined: 18.5 bitcoins in Q3 2024.\nRevenue from Bitcoin Mining: Approximately $1.1 million at an average Bitcoin price of $61,000.\nTotal Revenue: Approximately $1.3 million for Q3 2024, a decrease of $2.1 million year-over-year.\nOperating Expenses: Decreased to $5.6 million from $6.6 million year-over-year.\nNet Loss: $1.6 million in Q3 2024, compared to $0.6 million in Q3 2023.\nEBITDA: Positive $0.6 million for the first nine months of 2024.\nBitcoin Holdings: 142.3 bitcoins valued at approximately $12.4 million as of November 11, 2024.\n\n\nWarning! GuruFocus has detected 3 Warning Signs with LMFA.\n\nRelease Date: November 13, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nLM Funding America Inc (NASDAQ:LMFA) has strategically shifted its mining operations to more cost-effective facilities following the Bitcoin halving event, which is expected to enhance operational efficiency.\nThe company has approximately 3,700 Bitcoin mining machines in operation and an additional 2,200 miners ready to be redeployed, providing a total of 639 Petahash of mining capacity.\nOperating expenses decreased by $1 million year-over-year, primarily due to a $2 million reduction in digital mining costs.\nLMFA achieved positive EBITDA for the first nine months of 2024, amounting to $0.6 million, driven by expanded Bitcoin operations.\nThe company is committed to reinvesting mining revenue into expanding capacity with state-of-the-art miners and integrating advanced technologies to boost efficiency.\n\n Negative Points \n\nTotal revenue for the third quarter of 2024 was approximately $1.3 million, a decrease of $2.1 million from the same period last year, reflecting the impact of the Bitcoin halving event.\nThe company reported a net loss of $1.6 million in Q3 2024, compared to a loss of $0.6 million in Q3 2023.\nThere is uncertainty regarding the expansion of a potential site in Texas, with power validation and expansion plans still pending.\nThe company is operating at 60% capacity due to the relocation of miners, and full deployment of machines is not expected until the end of the year or early January.\nThe Florida real estate market, a segment of LMFA's business, faces legislative uncertainties that may impact future opportunities and demand.\n\n Q & A Highlights \nQ: Can you provide details on the current status of your mining operations and future hash rate expectations? A: Richard Russell, CFO: We have about 3,300 machines in Oklahoma and 800 in Kentucky, with 2,200 more in a warehouse in Oklahoma. We aim to have these operational by year-end or early January. Currently, we're at about 60% capacity.\nQ: What is the power rate in Oklahoma, and is it sustainable? A: Ryan Duran, President US Digital and Mining Co: The power rate is around 4 per kilowatt-hour, fluctuating between 3.8 and 4.2. We expect this rate to remain stable for the foreseeable future.\nQ: Are there any updates on the potential expansion in Texas? A: Richard Russell, CFO: The Texas site requires power validation for a 60-megawatt expansion. We expect to know by year-end whether we can proceed.\nQ: How are you approaching new rig purchases? A: Ryan Duran, President US Digital and Mining Co: We evaluate new models and potential deals, focusing on payback periods. We're considering older models like the K pros for future purchases.\nQ: What is the focus of your strategic shift post-Bitcoin halving? A: Ryan Duran, President US Digital and Mining Co: We are moving towards vertical integration, securing low-cost, sustainable power sources, and expanding our infrastructure to enhance operational efficiency and growth.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483843704"}