Lm Funding America ((LMFA)) has held its Q3 earnings call. Read on for the main highlights of the call.
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The recent earnings call of LM Funding America exuded a generally positive sentiment, highlighting the company’s significant strides in Bitcoin treasury growth, mining capacity expansion, and revenue increase. Despite challenges such as net losses and high mining costs, the company’s operational efficiency and strategic initiatives were emphasized as outweighing these financial hurdles.
Increased Bitcoin Treasury
In the third quarter of 2025, LM Funding America significantly bolstered its Bitcoin treasury, amassing approximately 304.5 Bitcoin valued at nearly $35 million. This increase in Bitcoin holdings is notably higher than the company’s market capitalization, marking a strategic move to enhance its asset base.
Expansion of Mining Capacity
LM Funding America expanded its operational footprint by acquiring an 11-megawatt facility in Columbus, Mississippi. This acquisition increased the company’s total operational capacity to 26 megawatts across two sites, thereby enhancing its power and climate exposure, which is crucial for efficient Bitcoin mining operations.
Significant Hash Rate Growth
The company reported a substantial 50% increase in its hash rate from June to October 2025, reaching approximately 0.71 exahash. This growth in hash rate is expected to continue into December, positioning LM Funding America for enhanced mining productivity.
Revenue Growth
LM Funding America’s revenue for Q3 2025 reached $2.2 million, reflecting a 13% sequential increase and a 74% year-over-year rise. This growth was driven by stronger Bitcoin pricing and the operational contributions of the new Mississippi facility.
Improved Mining Margins
The company’s mining margins improved to 49%, attributed to a strategic shift from hosting fees to self-mining. Additionally, the use of curtailment and energy sales helped offset operational expenses, contributing to the improved margins.
Share Repurchase Initiatives
In a bid to reduce dilution and increase Bitcoin per share, LM Funding America executed an $8 million private repurchase of 3.3 million shares and 7.3 million warrants. The company also announced a $1 million stock buyback, further enhancing shareholder value.
Net Loss Reported
Despite the positive developments, LM Funding America reported a net loss of $3.7 million and a core EBITDA loss of $1.4 million. These losses were primarily due to increased staff costs and payroll expenses.
High Mining Costs
The cost of mining one Bitcoin in Q3 2025 was reported at $66,000, a reduction from $70,000 in the previous quarter, yet still relatively high. This remains a challenge for the company as it seeks to optimize its mining operations.
Forward-Looking Guidance
Looking ahead, LM Funding America is focused on expanding its Bitcoin mining operations and increasing Bitcoin ownership per share. The company strengthened its balance sheet with $21 million in capital, part of which was used to purchase 164 Bitcoin. It also expanded its operational capacity with the acquisition of the Columbus facility, bringing total capacity to 26 megawatts. The company remains committed to enhancing per-share economics and operational efficiency while actively participating in the capital markets.
In conclusion, LM Funding America’s earnings call reflected a positive outlook with significant advancements in Bitcoin treasury and mining operations. Despite facing challenges with net losses and high mining costs, the company’s strategic initiatives and operational improvements are poised to drive future growth and shareholder value.