LM Funding America, Inc. (LMFA) reported a significant decline in its financial performance for the fiscal year ending December 31, 2025, with total revenues decreasing to approximately $8.8 million from $11.0 million in 2024. The company's Bitcoin mining revenues fell to about $8.3 million, down from $10.4 million the previous year, primarily due to a reduction in the quantity of Bitcoin mined and the impact of the Bitcoin halving event in April 2024. The company mined 82.3 Bitcoins in 2025, compared to 170.6 in 2024, with the average price of Bitcoin mined increasing to approximately $102,000 from $61,000.
Operating costs and expenses surged by 81.1% to approximately $31.7 million, driven by a fair market value loss on digital assets, an impairment loss on mining equipment, and increased staff costs. The company reported a net loss attributable to common shareholders of approximately $28.5 million for 2025, compared to a loss of $14.1 million in 2024. This increase in losses was attributed to various factors, including higher operational costs and a significant impairment on mining equipment.
In terms of strategic developments, LMFA has expanded its Bitcoin mining operations, owning approximately 7,200 machines with a total hashing capacity of 0.75 EH/s as of December 31, 2025. The company also acquired a new mining site in Mississippi and increased its operational capacity at its Oklahoma site. As of the end of 2025, LMFA held 211.4 Bitcoins, with an additional 145 Bitcoins pledged as collateral for a loan. The company’s strategy includes leveraging its Bitcoin holdings for operational needs and potential future acquisitions.
Looking ahead, LMFA faces challenges related to the volatility of Bitcoin prices, which significantly impact its financial results. The company has not engaged in hedging activities to mitigate this risk, leaving it exposed to market fluctuations. Additionally, LMFA is under scrutiny from Nasdaq for not meeting minimum bid price requirements, which could lead to delisting if compliance is not regained by July 2026. The company’s management remains focused on executing its strategic initiatives while navigating the complexities of the cryptocurrency market and regulatory environment.
About LM FUNDING AMERICA, INC.
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