LM Funding America announced a $12.6 million registered direct offering and a $10.4 million private placement, totaling $23.0 million in gross proceeds.
The net proceeds will primarily be used to purchase additional Bitcoin for the company's treasury.
The company's Bitcoin treasury strategy, initiated in 2021, focuses on accumulating Bitcoin and expanding mining operations.
Capital Raise
$23.0 million raised through a registered direct offering and private placement.
Bitcoin Treasury Strategy
Focus on purchasing Bitcoin to strengthen the company's treasury holdings.
Mining Operations
Current profitable mining operations contribute to Bitcoin accumulation and offset company overheads.
Acquisition Expansion
Planned acquisition of an 11 MW mining site to enhance mining capacity and integration strategy.
- The capital raise enhances LM Funding's financial flexibility and supports future capital raising activities.
- The expansion of mining operations and treasury holdings strengthens the company's position in the Bitcoin market.
LM Funding America's strategic capital raise and Bitcoin treasury approach demonstrate a forward-looking business model aimed at long-term value creation in the cryptocurrency market.