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LM Funding America, Inc. Signs Contract with GIGA Corporation to Host 1,080 Bitcoin Mining Machines
LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a cryptocurrency mining and technology-based specialty finance company, today announced that the Company has signed a new contract with GIGA Corporation to host 1,080 of its bitcoin mining machines, all of which are expected to be electrified and mining by May 31, 2023.
LM Funding also announced it has acquired approximately 14,000 additional terahash in the form of 100 XP machines purchased at a discount from Bitmain Technologies Limited through its Pizza Day Raffle promotion These mining machines are expected to be electrified and mining by May 31, 2023.
Bruce M. Rodgers, Chairman, and CEO of LM Funding commented, “We are happy to announce that we signed a new contract with GIGA Corporation to host 1,080 of our bitcoin mining machines at a site powered by flaring natural gas. We are told our machines will reduce the wasted flare gas at the site by 60%.” Mr. Rodgers added, “The acquisition of 100 XP machines through Bitmain’s Pizza Day raffle was a welcome surprise, supporting our intentions to acquire more energy-efficient machines in the forthcoming quarters in advance of the next Bitcoin halving in 2024. We expect to have these machines fully energized and operational by the end of May, providing LM Funding with total mining capacity of approximately 620 petahash.”.
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