PWCM 8-K
Powercompute, Inc. (PWCM)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
(Exact name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction |
(Commission File Number) |
(IRS Employer |
||
|
|
|
|
|
|
||||
|
||||
(Address of Principal Executive Offices) |
|
(Zip Code) |
||
Registrant’s Telephone Number, Including Area Code: |
|
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
|
|
Trading |
|
|
|
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On April 9, 2025, the Company issued a press release providing Bitcoin production and mining update for the one month ended March 31, 2025. The information contained in the press release is incorporated herein by reference and furnished as Exhibit 99.1.
The information furnished in this Item 2.02, including Exhibit 99.1, is not deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under that Section. This information will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except to the extent that the Company specifically incorporates it by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number |
|
Description |
|
|
|
99.1 |
|
|
104 |
|
Cover Page Interactive Data File (embedded within the inline XBRL document) |
Forward-Looking Statements
This Current Report on Form 8-K may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainty. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Such statements are based on the Company’s current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Investors are cautioned that there can be no assurance actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various risks and uncertainties. Investors should refer to the risks detailed from time to time in the reports the Company files with the SEC, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, as well as other filings on Form 10-Q and periodic filings on Form 8-K, for additional factors that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
LM Funding America, Inc. |
|
|
|
|
Date: |
April 9, 2025 |
By: |
/s/ Richard Russell |
|
|
|
Richard Russell, CFO |
Exhibit 99.1
LM Funding America Announces March 2025 Production and Operational Update
- Bitcoin HODL 160.2 BTC as of March 31, 2025 valued at $13.3 million or $2.59 per share1
TAMPA, FL, April 9, 2025 — LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a Bitcoin mining and technology-based specialty finance company, today announced its preliminary, unaudited Bitcoin mining and operational update for the month ended March 31, 2025.
Metric |
Jan 2025 |
Feb 2025 |
Mar 2025 |
- Bitcoin2 |
|
|
|
- Mined, net |
8.0 |
8.1 |
8.7 |
- Sold |
- |
- |
(14.2) |
- Purchased |
- |
- |
- |
- Service Fee |
- |
(0.5) |
(0.1) |
- Bitcoin HODL |
158.2 |
165.8 |
160.2 |
- Machines2 |
|
|
|
- Operational |
5,121 |
5,121 |
5,121 |
- Storage |
719 |
719 |
719 |
- Total Machines |
5,840 |
5,840 |
5,840 |
- Hashrate (EH/s2) |
|
|
|
- Oklahoma |
0.43 |
0.43 |
0.43 |
- Hosted |
0.13 |
0.13 |
0.13 |
- Energized |
0.56 |
0.56 |
0.56 |
- Storage |
0.07 |
0.07 |
0.07 |
- Total |
0.63 |
0.63 |
0.63 |
“Being vertically integrated not only secures cheaper power for our mining operations but allows us to sell excess energy back to the grid, further advancing our business model," stated Bruce Rodgers, Chairman and CEO of LM Funding. "This two-way approach to energy utilization increases our operational efficiency and effectively positions the grid itself as a customer, generating approximately $130,000 in power sales for the first quarter of this year. As we continue our infrastructure expansion, we aim to maintain the strength of our balance sheet with these diversified revenue streams."
1 Calculated using 5,133,412 shares outstanding as of 12/31/24 from SEC Form 10-K filed March 31, 2025
2 Unaudited
Exhibit 99.1
The Company estimates that the value of its 160.2 Bitcoin holdings on March 31, 2025, was approximately $13.3 million or $2.591 per share, based on a Bitcoin price of approximately $83,000 as of March 31, 2025, compared to a stock share price of $1.24 as of March 31, 2025.
Upcoming Conferences and Events
About LM Funding America
LM Funding America, Inc. (Nasdaq: LMFA), operates as a Bitcoin mining and specialty finance company. The company was founded in 2008 and is based in Tampa, Florida. For more information, please visit https://www.lmfunding.com.
Forward-Looking Statements
This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company's most recent Annual Report on Form 10-K and its other filings with the SEC, which are available at www.sec.gov. These risks and uncertainties include, without limitation, the risks of operating in the cryptocurrency mining business, our limited operating history in the cryptocurrency mining business and our ability to grow that business, the capacity of our Bitcoin mining machines and our related ability to purchase power at reasonable prices, our ability to identify and acquire additional mining sites, the ability to finance our site acquisitions and cryptocurrency mining operations, our ability to acquire new accounts in our specialty finance business at appropriate prices, changes in governmental regulations that affect our ability to collected sufficient amounts on defaulted consumer receivables, changes in the credit or capital markets, changes in interest rates, and negative press regarding the debt collection industry. The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition, and results of operations.
For investor and media inquiries, please contact:
Investor Relations
Orange Group
Yujia Zhai