Core Insights - LM Funding America, Inc. reported a total revenue of $2.4 million for Q1 2025, reflecting a sequential increase of 19.4% but a year-over-year decline of 48.9% [4] - The company mined 24.3 Bitcoins during the quarter, achieving a mining revenue of approximately $2.3 million, which is a 25.3% increase sequentially but a 50.1% decrease year-over-year [4][5] - The company held 148.7 Bitcoins valued at approximately $15.5 million as of April 30, 2025, with a market price of around $104,000 as of May 13, 2025 [4] Financial Performance - Operating expenses, excluding direct mining costs and depreciation, decreased by 7.7% year-over-year to $2.0 million [4] - The net loss for the quarter was $5.4 million, with a Core EBITDA loss of $2.8 million, primarily due to a $1.8 million non-cash write-down of Bitcoin [4][12] - Cash reserves were approximately $1.0 million, and total Bitcoin holdings amounted to 160.2 Bitcoins valued at $13.2 million as of March 31, 2025 [4][10] Operational Highlights - The company implemented a power grid integration strategy, generating approximately $150,000 in curtailment and energy sales during the quarter, which contributed to improved mining margins [4][5] - A 2 MW expansion of the Oklahoma Bitcoin mining facility is underway, utilizing immersion cooling technology to enhance efficiency and reduce operational costs [4][5] - The company is relocating its 800 Bitcoin mining machines to its own facility for better operational control and cost management [4][5] Management Commentary - Management emphasized the importance of operational efficiency improvements driven by vertical integration and firmware upgrades, which have positively impacted the bottom line [4][5] - The company remains optimistic about its Bitcoin treasury strategy, which aims to maximize Bitcoin holdings and create long-term value [5]
LM Funding America, Inc. Reports First Quarter 2025 Financial Results