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Jun 30, 2023
LMFA Q2 2023 Earnings Report
Reported over 1,260% year-over-year revenue growth and generated positive Core EBITDA.
Key Takeaways
LM Funding America, Inc. reported a significant increase in revenue, driven by its Bitcoin mining operations. The company achieved positive Core EBITDA for the second quarter of 2023 and completed the acquisition of Symbiont.io assets.
Revenue increased by over 1,260% year-over-year to $3.2 million.
Mined 106.6 Bitcoins in Q2 2023.
Achieved Core EBITDA of $1.0 million, excluding $6.6 million of non-cash expenses.
Completed the acquisition of Symbiont.io assets.
Revenue by Segment
Forward Guidance
The company anticipates an increase in the number of Bitcoins mined as they expand mining capacity and add more mining machines. The company also expects mining machine hashrate to potentially increase by as much as 25% by installing Braiins OS+ software.
Positive Outlook
- Continue to acquire and energize more energy-efficient mining machines as we approach the next Bitcoin halving, anticipated to occur sometime in 2024.
- Expand mining capacity by adding more mining machines.
- Anticipate an increase in the number of Bitcoins that we will be able to mine.
- Installed Braiins OS+ software on 360 of its mining machines, which is expected to increase mining machine hashrate by as much as 25%.
- Machines operating Braiins OS+ software may mine with any pool or mine with Braiins pool and pay no pool fees to Braiins pool.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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