The following is a summary of the LM Funding America, Inc. (LMFA) Q2 2024 Earnings Call Transcript:

Financial Performance:

• LM Funding reported a decrease in total revenue for Q2 2024 by $184,000 year-over-year, totaling approximately $3 million.

• The company experienced a net loss attributable to shareholders of approximately $6.1 million, including a $1.9 million unrealized loss on securities.

• Core EBITDA for Q2 2024 resulted in a loss of $2.2 million compared to almost breakeven in Q2 of 2023.

Business Progress:

• LM Funding mined 44.1 Bitcoins in Q2 2024, generating $2.9 million in revenue.

• The company announced a strategic acquisition of a mining site in Texas with the potential to expand to 72 megawatts.

• Formed a strategic partnership with Arthur Mining to establish a new 15-megawatt hosting facility and is considering a new 60-megawatt site adjacent to the existing Oklahoma facility.

Opportunities:

• The company is leveraging Bitcoin holdings to finance the acquisition of market-priced power for mining or resale to the grid.

• The established partnership with Arthur Mining allows LM Funding to minimize operational integration risks and focus on core competencies, promoting growth and profitability.

• Pending legislative changes requiring fully funded building maintenance reserves represent an opportunity for growth in their legacy business, particularly in collections for condominium associations.

Risks:

• The ongoing transition of Bitcoin miners and infrastructure modifications introduces operational risks that could impact profitability and efficiency.

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