LM Funding America (NASDAQ: LMFA) reported that it mined a company‑record 7.52 Bitcoin in December 2025, the highest monthly output to date. The same month the company raised approximately $6.1 million in equity, which it used to purchase 47 Bitcoin at an average price of $87,400 per coin, boosting its treasury to 356.3 BTC as of December 31 2025.
The record production was driven by the energization of a new immersion‑cooled mining container that became fully operational in December. The additional hashrate, combined with the company’s low‑cost power at its Oklahoma and Mississippi sites, enabled the higher output while keeping operating costs in line with the 49.0 % mining margin reported for Q3 2025. The equity raise and subsequent Bitcoin purchases strengthen the balance sheet, providing a cash cushion that can be deployed for further capacity expansion or to weather Bitcoin price volatility.
The equity infusion also supports LM Funding’s strategy of building a sizable Bitcoin treasury. At a December 31 price of $88,050 per coin, the 356.3 BTC holdings are valued at roughly $31.4 million, a significant increase from the company’s previous treasury balance. The additional Bitcoin inventory enhances the firm’s long‑term value proposition, as the company’s management has repeatedly emphasized the importance of a growing treasury for future upside potential.
Management highlighted disciplined execution as the key to the month’s success. Chairman and CEO Bruce M. Rodgers noted that the record production and capital raise “strengthen our balance sheet and improve our capital profile,” while President Ryan Duran attributed the output to the new container’s energization and the company’s efficient fleet deployment. The company remains focused on scaling its 26 MW owned capacity, with the Mississippi facility now fully online and the Oklahoma site operating at near‑maximum efficiency.
Industry analysts view LM Funding’s operational gains as a positive sign of its vertical‑integration strategy. The company’s ability to control power costs—reported at $0.036 kWh at the Mississippi site—has been a key driver of its margin expansion. However, the firm still faces headwinds from rising Bitcoin mining difficulty and price volatility, which could compress future margins if not offset by further efficiency gains or additional capacity. Nonetheless, the record production and equity raise position LM Funding to pursue its long‑term growth strategy with a stronger balance sheet and a larger Bitcoin treasury.
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