The following is a summary of the LM Funding America, Inc. (LMFA) Q1 2024 Earnings Call Transcript:

Financial Performance:

• LM Funding reported a noteworthy recovery, achieving a net income of $1.9 million in Q1 2024, after a net loss of $7.2 million in the same quarter the previous year.

• The firm recorded a 105% increase in revenue in Q1 2024 compared to Q1 2023.

• Positive core EBITDA of approximately $4.4 million was achieved for Q1 2024, exhibiting a substantial improvement from the core EBITDA loss of $300,000 in Q1 2023.

• In Q1 2024, 86.4 Bitcoins were mined, valued at approximately $4.6 million, complemented by Bitcoin's record high prices.

Business Progress:

• The Bitcoin mining operations of LM Funding have shown successful expansion, rendering them optimally positioned for future Bitcoin 'halving' events.

• With an investment of approximately $1.1 million, 300 Bitmain S21 Antminer machines were purchased in January, leading to an increased Bitcoin mining capacity to 639 petahash per second.

• The company is exploring ways to reduce Bitcoin mining costs and potential expansion into hosting for AI machines.

• Prospective growth opportunities have been identified in their legacy business, in line with increased demands for reserve funding due to legislative changes.

• LM Funding aims to scale their mining operations, improve their cost per Bitcoin mined, and grow their legacy business as part of their strategy to improve market share price.

More details: Lm Funding America IR

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