@lukas
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Recent Notes
Amazing. First thing I notice in the 10k, is that they intend on selling the BTC for USD. Thoughts?
At certain points of their operations they do sell some Btc for business operations but I believe they will soon be a net adder of Btc like past quarters and they don’t sell Btc every quarter. They are in an expansion phase of their sites as I wrote in the post and their goal is to stack / hold as much Btc as possible and use fiat to expand. Also they mine Btc at a lower avg cost than we can buy it at market prices
https://m.primal.net/MmFC.jpg
My X account is “suspended” with no explanation or proof all they said was “this account was engaged in spam” but didn’t provide evidence it’s been a week already I was gonna post this lmfa thread on X but I’ll post it here 🤷
$LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
$LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
“Here is someone who has never seen a cat. He is looking through a narrow slit in a fence, and, on the other side, a cat walks by. He sees first the head, then the less distinctly shaped furry trunk...
💎 $LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
The Overton Window is clearly shifting away from the far Left.
This will have many societal implications in the coming years.
nostr:note1pdqzurcvd65egmsgecsectnlt6gv0ancs6vyx5fg5dp2aaz07awszhngkc
#justmath
$LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
$LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
Don’t miss my interview with Max & Stacy on all things #Bitcoin - https://podcasts.apple.com/us/podcast/coin-stories/id1569130932?i=1000678294128
Available on all podcasting platforms and X. 🧡...
You should interview the guys over at LM funding they completely transformed their legacy business into a btc mining operation that uses btc as collateral to expand their mining/ energy sites!
$LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
$LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
Have seen lots of NOSTR posts today on X. Gaining steam following the Telegram news by the looks of it.
Found a gem 💎
$LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
$LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
❤️1
Shout-out to nostr:npub1cw7t9m5yg5ex6g50wxmqrhfytxhs5mazysvc9k4ayf5svzn4v7cq5cfjs0 for his awesome merch! Now I can wear hats again! Also for the first time ever, myself and my sister look alike.
👇...
You should interview the guys over at LM funding! They completely switched their legacy business into a btc mining company that holds bitcoin and uses btc as collateral to expand their mining operations!
$LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
$LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
Productive day! https://image.nostr.build/12baf3f2ff1ded254a72a680bed75ce7f74829b47b4c7f2815347edc7e8043d6.jpg
Undervalued gem! 💎 $LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
Make proof of work great again
nostr:note19wlx5pfm84zvnfaj7xr503hhxudy60n5nh9avjjvl0a0eyvtyexq5s3e3h
You should interview the guys over at LM Funding! They totally transformed their legacy business into a btc mining company that holds btc and uses it as collateral to expand their mining operations!
$LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
$LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
Sunday pasta and bolognese #foodstr
https://m.primal.net/MlgT.jpg
https://m.primal.net/MlgU.jpg
Would be cool to interview the guys over at lm funding
$LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
$LMFA Special situation #bitcoin company trading at a deep discount to NAV (BTC holdings/market cap ~140%)
(Book value per share ~$10)
(Current $lmfa price ~$2.7):
$LMFA LM Funding, a company that has been going all in on #Bitcoin & Mining since 2021 & is continuing to expand mining operations:
LMFA trades at a discount to Bitcoin holdings even when excluding cash and miners and has minimal debt relative to assets
LM Funding holds 140 Bitcoin on their balance sheet
worth ~ $12.8 Million (@ a btc price of $92k) w/ their avg cost of btc being ~$60k
Their market cap is ~ $9.10 Million (@ $lmfa price of $2.7)
They also have a few million dollars of cash and over $15M worth of miners
Total assets on balance sheet per last earnings report (Q3 2024)
~ 36M
Total liabilities ~ 8M
Current assets ~ 11M
Current liabilities ~ 3M
Not only is LMFA undervalued they are also expanding to larger, and more cost effective, energy sites for their current and future mining operations. They are using loans backed by btc to do this (non dilutive - this allows them to hold their btc) they are employing a hodl, mine and stack strategy.
LM Funding recently announced they are in the process of expanding operations (in addition to their existing 17.6MW sites):
LMFA, “a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the signing of an asset purchase agreement to acquire the business assets of a 15 MW mining site in Oklahoma” w/ options to further increase output to 60 MW & they are also waiting regulatory approval for even further expansion at a site in Texas for 72 MW.
To put 15 MW into perspective this is enough energy to power 11,000-15,000 homes w/ the possibility of expanding to 60MW and 72MW in Texas - they currently run a 17.6MW site as they are in this expansion process. (The Oklahoma site and miners in transit should be fully operational by the end of Jan 2025)
LM funding additionally gets their miners at wholesale/competitive pricing and will be cutting their cost of energy to 3-5 cents per MW from 7-8 cents, this will help to adjust with the difficulty of mining post 2024 halving.
Something to keep in mind is that even if #bitcoin prices fall, $LMFA will be able to mine bitcoin at a faster pace because of less competition/ unprofitable miners going offline and the difficulty of mining going down with demand. In the other direction, $LMFA also benefits when bitcoin goes up because it holds 140 bitcoin on its balance sheet, it can fund more mining operations as its collateral grows & they can mine bitcoin. Win-Win scenario if you are assuming bitcoin is here to stay for the next several years/decades, which I think it will because it has established itself as the fastest growing asset class since its inception and now institutions are flowing in / nation states. Also people have a trillion dollar plus incentive now to keep the network running / secure & #bitcoin is flooded with very enthusiastic engineers / entrepreneurs.
Added bonus: In the highly unlikely scenario where bitcoin fails or mining becomes too difficult for lmfa maybe say post 2028 or 2032 halving, the CEO mentioned that they are strategically picking their new mining sites in locations where they can also capitalize on the AI boom if needed (AI also loves cheap energy). LMFA’s sites are in areas with high talent, the sites have cooling systems in place for GPUs and water systems…another win-win scenario
“Heads I win, tails I don’t lose much” -Mohnish Pabrai
Why is lmfa so cheap?
1. It used to be (mostly) a lending company to nonprofits such as HOA communities so many people in the market don’t know it’s #bitcoin business is a much bigger operation than its old yet still existent legacy business.
2. It’s a microcap stock (low mrkt cap) so these get a lot less buzz than mid/mega caps.
Conclusion: large upside with minimal downside, 40-70% discount to assets.
Value of btc per share alone ~ $3.8
Book value per share (btc+cash+ other assets - liabilities / shares outstanding) ~$10
Current price ~ $2.7
PS. ~60% insider ownership which means they have a big incentive to grow this company.
https://www.lmfunding.com/investors/news-events/press-releases
This is great research/ analysis. I'm going to dig in more. Thanks for your work! The funny thing is, I used to hold this thing in the last bull market and got burned. I'm willing to reevaluate becaus...
Yes plz spread the word! For some reason I got suspended on X for “spam” but they could never show me proof of it/I didn’t break any rules, I was gonna post this on X but just posted it here for now waiting for X to fix my account
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