The new agreement is for 60 months and includes full hosting and management services.
1 Future changes in the network-wide mining difficulty rate or bitcoin hash rate could also significantly affect the future performance of bitcoin production by LMFA. Additionally, all discussions of financial metrics assume mining difficulty rates from June 17, 2022. Total network hash rate data is calculated from a third-party source, available here: https://www.blockchain.com/charts/hash-rate. Data from third-party sources has not been independently verified. See “Forward-Looking Statements” below.
About LM Funding America:
LM Funding America, Inc., together with its subsidiaries, is a technology-based specialty fundraising company that provides funding to nonprofit community associations (associations) primarily located in the State of Floridaas well as in the states of Washington, Colorado and Illinois, by funding a certain portion of the association’s rights to overdue accounts that are selected by the associations as a result of unpaid association dues. LMFA is also entering the cryptocurrency mining business through a new subsidiary, US Digital Mining and Hosting Co., LLC.
This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend of, “plan” and “project” and other similar words and expressions are intended to mean forward-looking statements. Forward-looking statements are not guarantees of future results and conditions, but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company’s most recent Annual Report on Form 10-K and its other filings with the SEC, which are available at www.sec.gov. These risks and uncertainties include, but are not limited to, the uncertainty created by the COVID-19 pandemic, the risks of entering and operating in the cryptocurrency mining industry, the ability of our bitcoin mining machines and our related ability to purchase electricity at reasonable prices, the ability to fund our planned cryptocurrency mining operations, our ability to acquire new accounts in our business specialized financing at appropriate prices, the need for capital, our ability to hire and retain new employees, changes in government regulations that affect our ability to collect sufficient amounts from defaulted trade receivables, changes in credit or capital markets, changes in interest rates and negative press regarding the debt collection industry. The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition and results of operations.
Crescendo Communications, LLC
Tel: (212) 671-1021
E-mail: [email protected]
SOURCELM Funding America, Inc.