LM Funding America announced that its 7.5‑MW Mississippi mining site was fully online for the first time in October, producing 7.5 BTC—an increase of 27% from the 5.9 BTC mined in September. The uptick reflects the successful ramp‑up of the newly acquired 11‑MW Mississippi facility, which added 7.5 MW of capacity and 220 PH/s of hash‑rate to the company’s U.S. footprint.
The company also secured 320 immersion‑cooled Bitmain S21 units, which will add 68.8 PH/s to the 2‑MW Oklahoma expansion slated to energize in December. Immersion cooling is expected to lower operating costs and improve hash‑rate efficiency, positioning LM Funding to capture higher margins as Bitcoin prices recover.
In October, LM Funding sold 17 BTC to fund the purchase of the new S21 units and deployed $8 million of its $11 million Galaxy facility to complete a private repurchase of 3,308,575 shares and 7,248,787 warrants. The repurchase, completed on October 30, is part of a strategy to support the company’s market net asset value (mNAV) when it trades below comparable Bitcoin miners. The company’s Bitcoin holdings stood at 294.9 BTC on October 31, valued at $31.9 million or $2.70 per share, and the Galaxy facility is secured by the company’s Bitcoin assets.
Additional context shows that LM Funding’s specialty finance business remains active, while the mining operations continue to expand. The company’s recent $1.5 million share‑repurchase program announced on November 3 further underscores its commitment to returning value to shareholders.
Management highlighted the operational gains and strategic focus. CEO Bruce M. Rodgers noted that the Mississippi site’s first full month online delivered a 27% production increase and reaffirmed the company’s belief that it remains undervalued relative to its Bitcoin holdings. CFO Richard Russell emphasized the strategic liquidity optimization achieved by selling Bitcoin to fund equipment purchases and the share‑repurchase program. President Ryan Duran underscored the operational improvements and the expected impact of the Oklahoma expansion on future hash‑rate growth.
The operational update signals a continued investment in high‑efficiency mining infrastructure and a proactive capital allocation strategy aimed at enhancing shareholder value while building a robust treasury position.
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