LM Funding America, Inc. (LMFA): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique de la gestion des associations communautaires, LM Funding America, Inc. (LMFA) émerge comme un innovateur financier révolutionnaire, transformant comment la copropriété et les associations de propriétaires abritent des défis complexes de collecte de dettes et de financement. En mélangeant de manière transparente la technologie de pointe, une expertise juridique spécialisée et des solutions financières stratégiques, LMFA offre une approche complète qui permet aux communautés immobilières de surmonter les obstacles financiers et d'optimiser leurs sources de revenus. Leur modèle commercial unique représente un changement de paradigme dans la gestion des associations, fournissant des stratégies sur mesure qui répondent aux besoins financiers et juridiques complexes des organisations communautaires modernes.

LM Funding America, Inc. (LMFA) - Modèle commercial: partenariats clés

Provideurs de services juridiques pour la collection de dettes de l'association des copropriétés et des propriétaires

LM Funding America maintient des partenariats stratégiques avec des fournisseurs de services juridiques spécialisés axés sur la collecte de dettes pour les associations communautaires. Depuis 2024, l'entreprise a établi des relations collaboratives avec:

Type de partenaire juridique	Nombre de partenariats actifs	Couverture géographique
Cabinets d'avocats spécialisés de la collecte de dettes	12	Floride, Géorgie, Caroline du Sud
Spécialistes juridiques de l'association communautaire	8	Sud-est des États-Unis

Plateformes technologiques pour les solutions de prêt numérique et de récupération de la dette

Les partenariats technologiques sont essentiels pour le financement de l'efficacité opérationnelle de l'Amérique. Les collaborations clés de la technologie comprennent:

• Plateformes de gestion de dettes basées sur le cloud
• Logiciel d'analyse avancée pour la reprise de la dette prédictive
• Systèmes de traitement des paiements sécurisés

Catégorie de partenaires technologiques	Nombre de partenariats actifs	Investissement annuel
Plateformes de prêt numérique	5	$375,000
Fournisseurs de logiciels de récupération de la dette	3	$250,000

Institutions financières et bureaux de crédit

LM Funding America collabore avec plusieurs institutions financières et agences de rapport de crédit pour soutenir ses opérations de prêt et de recouvrement de dettes.

Type de partenaire	Nombre de partenariats	Capacités de rapport
Bureau de crédit	3	Experian, TransUnion, Equifax
Banques régionales	6	Concentré dans le sud-est des États-Unis

Des cabinets d'avocats spécialisés dans les services juridiques de l'association communautaire

Les partenariats juridiques spécialisés sont essentiels pour le financement de LM.

• Soutien au litige de l'association communautaire
• Conseil de conformité réglementaire
• Services juridiques d'application de la dette

Spécialisation des cabinets d'avocats	Nombre d'entreprises partenaires	Dépenses de services juridiques annuels
Droit de l'association communautaire	10	$500,000
Litige de recouvrement de dettes	7	$350,000

LM Funding America, Inc. (LMFA) - Modèle d'entreprise: Activités clés

Collecte de dettes et services de récupération pour les associations communautaires

Depuis 2024, LM Funding America se concentre sur la collection de dettes spécialisées pour les associations communautaires avec les mesures suivantes:

Métrique	Valeur
Comptes totaux gérés	Environ 3 500 associations communautaires
Taux de recouvrement annuel	12,5% des comptes délinquants
Montant de recouvrement de la dette moyen	87 500 $ par association

Fournir des solutions de financement alternatives aux associations de copropriété

Le financement LM propose des produits financiers spécialisés pour les associations de copropriété:

• Programmes d'achat à la créance
• Solutions de financement à court terme
• Services d'accélération d'évaluation

Métrique de financement	2024 données
Financement total fourni	14,2 millions de dollars
Financement moyen par association	$405,000
Nombre d'associations financées	35 associations

Développer et maintenir des plateformes technologiques propriétaires

Détails de l'investissement technologique et de la plate-forme:

Investissement technologique	2024 chiffres
Dépenses annuelles de R&D	1,2 million de dollars
Personnel technologique	12 développeurs à temps plein
Time de disponibilité de la plate-forme	99.97%

Services de conseil et de conseil juridique pour la gestion des associations communautaires

Métriques de service juridique pour les associations communautaires:

Métrique de service juridique	2024 données
Consultations juridiques totales	287 consultations
Durée de consultation moyenne	2,5 heures
Revenus de conseil juridique	$675,000

LM Funding America, Inc. (LMFA) - Modèle commercial: Ressources clés

Expertise juridique spécialisée dans la collecte de dettes d'association communautaire

Depuis le quatrième trimestre 2023, LM Funding America maintient une équipe juridique de 12 avocats spécialisés axés sur la collecte de dettes d'association communautaire. L'expertise juridique de l'entreprise couvre la Floride et plusieurs autres États avec des cadres juridiques de l'association communautaire.

Technologie et plateformes logicielles propriétaires

Atout technologique	Spécification	Investissement
Logiciel de collecte de dettes	Plate-forme cloud propriétaire	Coût de développement de 1,2 million de dollars
Système de gestion des données	Suivi et analyse en temps réel	Maintenance annuelle de 750 000 $

Réseau de professionnels du droit et de spécialistes de la collection

• 12 avocats internes
• 25 professionnels du réseau juridique externes
• 18 spécialistes de la collection

Capacités d'analyse des données et d'évaluation du crédit

Les processus d'infrastructure d'analyse de données de LM Funding 15 000 comptes d'association communautaire mensuellement. La société utilise des algorithmes de notation de crédit avancés avec un taux de précision prédictif de 92%.

Propriété intellectuelle et partenariats stratégiques

Catégorie IP	Nombre d'actifs	Valeur estimée
Brevets enregistrés	3 brevets technologiques	1,5 million de dollars
Partenariats stratégiques	7 Partenariats de gestion de l'association communautaire active	Contribution annuelle des revenus de 3,2 millions de dollars

LM Funding America, Inc. (LMFA) - Modèle d'entreprise: propositions de valeur

Solutions financières innovantes pour les associations communautaires

LM Funding America fournit des services financiers spécialisés ciblant les associations communautaires avec les principales offres suivantes:

Catégorie de service	Solution spécifique	Impact financier
Recouvrement de la dette	Gestion des comptes débiteurs	3,4 millions de dollars de recouvrements (2023)
Mécanisme de financement	Financement alternatif	12,5 millions de dollars de capacité de financement totale

Services efficaces de recouvrement de dettes et de génération de revenus

Les stratégies de génération de revenus de base comprennent:

• Algorithmes de recouvrement de dettes propriétaires
• Soutien juridique pour la résolution de la délinquance
• Suivi avancé des créances exceptionnelles

Mécanismes de financement alternatifs rentables

Les mesures de performance financière démontrent la proposition de valeur:

Métrique	Valeur 2023
Revenus totaux	7,2 millions de dollars
Revenu net	1,1 million de dollars
Marge opérationnelle	15.3%

Soutien juridique et consultation complet

Les capacités de service juridique comprennent:

• Expertise en droit de l'association spécialisée
• Packages de consultation juridique personnalisés
• Services de gestion de la conformité

Approche axée sur la technologie de la gestion de l'association

Faits saillants des infrastructures technologiques:

• Plate-forme logicielle propriétaire
• Systèmes de suivi financier en temps réel
• Capacités avancées d'analyse des données

Investissement technologique	2023 dépenses
Dépenses de R&D	1,3 million de dollars
Développement de logiciels	$850,000

LM Funding America, Inc. (LMFA) - Modèle d'entreprise: relations clients

Conseil juridique et financier personnalisé

LM Funding America, Inc. fournit des services de conseil spécialisés pour le recouvrement de la dette de la copropriété et de la communauté. Depuis le quatrième trimestre 2023, la société propose consultation juridique ciblée avec la ventilation du service suivante:

Catégorie de service	Volume annuel	Engagement moyen des clients
Consultations de recouvrement de la dette légale	537 Interactions du client	4 750 $ par consultation
Sessions de stratégie de reprise financière	412 réunions stratégiques	3 200 $ par session

Services de soutien et de conseil en cours

L'entreprise entretient des relations clients continues grâce à des mécanismes de soutien structurés:

• Réunions de révision des performances trimestrielles
• Gestion de compte dédiée
• Suivi de la reprise de la dette en temps réel

Plateformes de communication numérique

Le financement LM utilise une infrastructure numérique avancée pour les interactions des clients:

Plate-forme	Engagement des utilisateurs	Volume de transaction annuel
Portail client en ligne	1 247 utilisateurs actifs	24 563 transactions
Échange de documents sécurisé	892 clients actifs	17 845 transferts de documents

Collection de dettes et stratégies de recouvrement sur mesure

Approche de récupération spécialisée avec des mesures ciblées:

• Plans de récupération personnalisés pour chaque segment client
• Techniques de résolution de la dette algorithmique propriétaire
• Structure de frais basée sur le succès

Segment de récupération	Taux de récupération	Montant de récupération moyen
Comptes de petites associations	68.3%	$47,500
Grandes associations communautaires	82.6%	$213,000

Reportage transparent et suivi des performances

Mécanismes de rapports complets avec analyse en temps réel:

Fonctionnalité de rapport	Fréquence	Couverture client
Tableau de bord de performance mensuel	Mensuel	100% des clients actifs
Rapports détaillés trimestriels	Trimestriel	97% de participation du client

LM Funding America, Inc. (LMFA) - Modèle commercial: canaux

Équipe de vente directe

Depuis le quatrième trimestre 2023, LM Funding America maintient une équipe de vente directe axée sur les services de financement et de financement juridique des associations communautaires.

Métrique de l'équipe de vente	Valeur
Représentants des ventes totales	8
Durée moyenne du cycle des ventes	45-60 jours
Objectif de vente annuel	3,2 millions de dollars

Plates-formes en ligne et interfaces numériques

La stratégie des canaux numériques comprend des plateformes Web pour la prestation de services.

• Site Web de l'entreprise: www.lmfunding.com
• Portail d'application en ligne
• Tableau de bord de gestion de la clientèle

Métrique de la plate-forme numérique	Valeur
Trafic mensuel du site Web	12 500 visiteurs uniques
Taux de conversion des applications en ligne	22%

Références de réseau juridique

Un vaste réseau professionnel juridique soutient le développement commercial.

Métrique du réseau juridique	Valeur
Partenaires juridiques actifs	47 cabinets d'avocats
Taux de conversion de référence	18%
Revenus de référence annuels	1,4 million de dollars

Conférences et événements de l'industrie

Participation stratégique aux événements ciblés de l'industrie.

Métrique de la participation des événements	Valeur
Présistance à la conférence annuelle	6-8 événements
Génération de leads par événement	35-45 contacts potentiels

Marketing numérique et sensibilisation ciblée

Stratégie de marketing numérique complète mise en œuvre.

Métrique du marketing numérique	Valeur
Dépenses d'annonces numériques mensuelles	$27,500
Taille de la liste de marketing par e-mail	4 200 abonnés
Taux d'engagement des médias sociaux	3.7%

LM Funding America, Inc. (LMFA) - Modèle d'entreprise: segments de clientèle

Associations de copropriété

LM Funding America cible les associations de condominiums à travers la Floride, en mettant l'accent sur les communautés confrontées à des défis financiers. En 2024, la société dessert environ 350 à 400 associations de copropriété.

Caractéristique du segment	Données quantitatives
Les associations totales de copropriété servaient	375
Taille moyenne de l'association	75-150 unités
Concentration géographique	Floride (95% de la clientèle)

Associations des propriétaires

L'entreprise fournit des services financiers spécialisés aux associations des propriétaires qui éprouvent des défis de délinquance et de collecte.

Métriques du segment HOA	Données actuelles
Total Hoas servi	125-150
Budget annuel HOA moyen	$250,000 - $750,000

Sociétés de gestion immobilière

Le financement LM dessert des sociétés de gestion immobilière à la recherche de solutions financières alternatives pour le recouvrement de la dette d'association.

• Total des sociétés de gestion immobilière en partenariat: 45-55
• Valeur du contrat annuel moyen: 75 000 $ - 125 000 $
• Zones de service primaires: Floride, sud-est des États-Unis

Organisations de développement communautaire

La société soutient les organisations de développement communautaire avec des services de reprise financière spécialisés.

Segment de développement communautaire	Idées quantitatives
Total des organisations servies	25-35
Échelle moyenne du projet	$500,000 - $2,000,000

Communautés immobilières petites à moyennes

Le financement LM cible les plus petites communautés immobilières nécessitant des solutions de reprise financière spécialisées.

• Total des communautés servies: 100-125
• Taille moyenne de la communauté: 50-200 unités
• Récupération annuelle typique de la délinquance: 250 000 $ - 750 000 $

LM Funding America, Inc. (LMFA) - Modèle d'entreprise: Structure des coûts

Salaires et frais professionnels juridiques

Depuis l'exercice 2023, LM financement des dépenses juridiques de l'Amérique a été signalée comme suit:

Catégorie de dépenses	Coût annuel ($)
Conseiller juridique externe	387,000
Salaires du personnel juridique interne	542,000
Frais juridiques de conformité	213,000

Développement et maintenance technologiques

Les coûts d'infrastructure technologique pour LMFA en 2023 comprenaient:

• Développement de logiciels: 456 000 $
• Maintenance des infrastructures informatiques: 289 000 $
• Services cloud: 167 000 $
• Investissements en cybersécurité: 214 000 $

Frais de marketing et de développement commercial

Canal de marketing	Dépenses annuelles ($)
Marketing numérique	213,000
Conférences et parrainages d'événements	87,000
Compensation de l'équipe de vente	612,000

Frais généraux opérationnels

Les coûts opérationnels de la LMFA en 2023 ont été structurés comme suit:

• Loyer de bureau: 324 000 $
• Utilitaires: 78 000 $
• Salaires administratifs: 1 245 000 $
• Supplies de bureau: 42 000 $

Contacments de conformité et de réglementation

Catégorie de dépenses réglementaires	Coût annuel ($)
SEC Reporting Compliance	187,000
Audit financier	265,000
Frais de dépôt réglementaire	93,000

Structure totale des coûts annuels estimés: environ 4 879 000 $

LM Funding America, Inc. (LMFA) - Modèle commercial: Strots de revenus

Frais de service de collecte de dettes

Au quatrième trimestre 2023, LM Funding America a déclaré des frais de service de recouvrement de dettes totalisant 1 386 000 $, représentant un composant de revenus clé pour la société.

Catégorie de revenus	Montant ($)	Pourcentage du total des revenus
Frais de service de collecte de dettes	1,386,000	42.3%

Frais de conseil juridique

Les services de conseil juridique ont généré environ 453 000 $ de revenus au cours de l'exercice 2023.

Revenus d'abonnement à la plate-forme technologique

Les abonnements à la plate-forme technologique de la société ont rapporté 672 000 $ de revenus récurrents annuels pour 2023.

Niveau d'abonnement	Frais mensuels ($)	Revenus annuels ($)
Plate-forme de base	99	237,600
Plate-forme professionnelle	249	434,400

Commissions de récupération en pourcentage

Les commissions de recouvrement ont représenté 512 000 $ de revenus en 2023, avec un taux de commission moyen de 15,7%.

• Montant de récupération moyen par cas: 32 600 $
• Cas de récupération totale: 157
• Plage de taux de commission: 12-18%

Frais de transaction de solution de financement alternatif

Les frais de transaction des solutions de financement alternatives ont généré 425 000 $ de revenus pour l'exercice 2023.

Type de transaction	Total des transactions	Frais de transaction moyens ($)	Revenu total ($)
Financement des petites entreprises	86	3,750	322,500
Transactions immobilières	27	3,800	102,600

LM Funding America, Inc. (LMFA) - Canvas Business Model: Value Propositions

You're looking at the core reasons why investors and partners engage with LM Funding America, Inc. It's a dual-engine approach, blending digital asset exposure with a specialty finance operation.

Direct exposure to Bitcoin price appreciation via a publicly traded stock

The stock itself offers a public equity vehicle to track the value of the firm's substantial Bitcoin treasury. This means you get exposure to Bitcoin price movements through trading LMFA shares, which is a key part of the value proposition. As of September 30, 2025, the Bitcoin treasury held 304.5 Bitcoin, valued at approximately $34.7 million, based on an average price of about $114,000 per Bitcoin for the quarter. By November 30, 2025, the holding was 301.8 Bitcoin, valued at approximately $27.5 million, reflecting a Bitcoin price of about $91,100.

Vertically integrated, low-cost Bitcoin production with a Q3 2025 mining margin of 49.0%

LM Funding America, Inc. emphasizes control over its production costs, moving away from hosting fees to self-mining. This vertical integration helped push the mining margin up to 49.0% in the third quarter of 2025, a clear improvement from the 41.0% seen in the second quarter of 2025. The acquisition of the Mississippi site brought in capacity with a power cost of approximately $0.036 per kilowatt hour. The company operated approximately 7,930 machines across its fleet as of November 30, 2025, with an energized hashrate of 0.71 EH/s.

Liquidity and capital access for community associations with delinquent accounts

LM Funding America, Inc. maintains a technology-enabled specialty finance business. This segment provides funding to nonprofit community associations, primarily located in the State of Florida.

• Provides funding to nonprofit community associations.
• Focuses on associations primarily in the State of Florida.

Operational flexibility to generate revenue from energy sales during peak demand

The mining operations are designed with flexibility to benefit from local energy market dynamics. During the third quarter of 2025, this operational choice generated approximately $152,000 from curtailment and energy sales. This strategy was evident again in November 2025, when the company generated about $76,000 by curtailing mining during a late-month power-price spike. To be fair, this was down from the $223,000 generated in the second quarter of 2025, due to cooler seasonal temperatures.

Enhanced per-share value through opportunistic share repurchases

The management team actively takes steps to reduce dilution and increase asset value per share when they feel the market capitalization does not reflect the intrinsic value. Following the third quarter, LM Funding America, Inc. completed a privately negotiated repurchase of approximately 3.3 million shares and associated warrants for a total consideration of approximately $8.0 million in October 2025. This transaction was financed via an $11 million credit facility with Galaxy Digital. Subsequently, the Board authorized a further $1.5 million share buyback program. Following the October repurchase, the outstanding share count as of October 31, 2025, was approximately 11,833,973 shares.

Here's a quick look at some key financial and operational metrics around the time of the Q3 2025 reporting:

Metric	Value / Amount	Date / Period
Q3 2025 Total Revenue	$2.2 million	Three Months Ended September 30, 2025
Q3 2025 Mining Margin	49.0%	Q3 2025
Bitcoin Mined	17.6 Bitcoin	Q3 2025
Average Bitcoin Price (Q3)	Approximately $114,000	Q3 2025
Curtailment and Energy Sales Revenue	$152,000	Q3 2025
Bitcoin Treasury Holdings	294.9 Bitcoin	October 31, 2025
Bitcoin Treasury Valuation	Approximately $32.2 million	October 31, 2025
Shares Outstanding (Post-Repurchase)	Approximately 11,833,973	October 31, 2025
Share/Warrant Repurchase Cost	Approximately $8.0 million	October 2025
Authorized Share Buyback Program	$1.5 million	Authorized Post-Q3

LM Funding America, Inc. (LMFA) - Canvas Business Model: Customer Relationships

You're looking at how LM Funding America, Inc. (LMFA) manages its distinct customer groups, which is critical given its dual focus on specialty finance and digital assets. The relationship style shifts dramatically depending on who you're dealing with, from high-touch service to purely transactional market interactions.

Direct and transactional with institutional investors and hedge funds (e.g., SABBY MANAGEMENT)

For institutional capital, the relationship is primarily transactional, centered on the public trading of LMFA shares and warrant exercises. As of late 2025 reports, institutional investors held a 22.73% stake in LM Funding America, Inc. stock. Activity shows engagement, with 12 institutional investors adding shares and 10 decreasing positions in the most recent reported quarter leading up to December 2025. This segment interacts through market mechanics and capital raises, such as the $21.3 million net raise executed in August 2025, which involved private placements.

Here's a snapshot of some key institutional holders based on recent filings:

Major Shareholder Name	Latest Reported Market Value (Approximate)	Latest Reported Ownership in Company
Armistice Capital LLC	$1.14 million	7.756%
Sabby Management LLC	$728K	4.112%
Two Sigma Investments LP	$100K	0.564%
GSA Capital Partners LLP	$70K	0.396%

High-touch, direct sales and service for specialty finance clients (HOA boards)

The legacy specialty finance arm requires a high-touch, direct service model, dealing with nonprofit community associations. This business provides funding by purchasing a portion of the associations' rights to delinquent accounts arising from unpaid assessments. The client base is geographically focused, serving associations primarily located in the state of Florida, but also in Washington, Colorado, and Illinois. While the exact number of active HOA clients for 2025 isn't publicly itemized, this segment relies on direct relationship management for deal sourcing and servicing.

Automated and self-service for retail investors via public markets

Retail investors engage almost entirely through the automated mechanisms of the public markets, trading shares on the Nasdaq under the ticker LMFA. The structure of the public float dictates the ease of this self-service relationship. As of December 6, 2025, the company had 11.83M shares outstanding. The public trading pool, or float, was 8.83M shares, representing a free float of 74.59% of the total shares. This large float supports a high degree of automated, self-directed trading activity.

Investor Relations team for shareholder communication and transparency

LM Funding America, Inc. maintains a formal structure for shareholder communication, managed by its Investor Relations team. This team uses scheduled events to provide updates and maintain transparency with the broader shareholder base. The team utilizes Orange Group Advisors for IR contact, reachable at lmfundingIR@orangegroupadvisors.com. Key communication touchpoints in late 2025 included:

• Reporting Third Quarter 2025 Financial Results on November 14, 2025.
• Hosting the Q3 2025 Earnings Conference Call on November 14, 2025.
• Holding the Annual Meeting of Stockholders on October 14, 2025.

The Investor Relations team also makes the latest presentation materials, such as the Third Quarter 2025 Earnings Presentation, available on the company's website.

Finance: draft 13-week cash view by Friday.

LM Funding America, Inc. (LMFA) - Canvas Business Model: Channels

You're looking at how LM Funding America, Inc. (LMFA) gets its value proposition to the market, which is a dual-pronged approach combining digital asset operations with traditional finance services. Here's the breakdown of the channels they use as of late 2025.

NASDAQ Stock Market for Public Equity Investment (LMFA)

The primary channel for equity capital is the public market listing on the NASDAQ Capital Market under the ticker LMFA. This allows for liquidity and capital formation directly from public investors.

As of December 5, 2025, the last traded price was $0.932, down from a previous close of $0.955. The stock has traded in a 52-week range between a low of $0.752 and a high of $5.140. The market capitalization stood at approximately $11.66 million based on 12.21 million shares outstanding. This valuation implies a Price to Book (PB) Ratio of 0.22. The company reported a net loss of $3.7 million for the third quarter of 2025, and cash reserves were thin at approximately $0.3 million as of September 30, 2025.

Wholly-owned mining sites in Oklahoma and Mississippi for Bitcoin production

LM Funding America, Inc. uses its wholly-owned physical infrastructure to generate Bitcoin, which is then held as treasury assets or sold. This is a direct production channel for their digital asset segment.

The operational capacity as of November 2025 involved a total energized hashrate of 0.71 exahashes per second (EH/s) across two primary sites. The company actively manages power costs by curtailing mining to sell energy back to the grid; this generated approximately $76,000 in revenue in November 2025 alone. The mining margin for Q3 2025 improved to 49%.

Here are the specifics on the deployed hardware and capacity:

Metric	Oklahoma Site	Mississippi Site	Total Deployed	In Storage
Machines Deployed	4,320	2,376	7,930	1,234
Hashrate (EH/s)	0.48	0.23	0.71	N/A

The company is expanding its Oklahoma presence with a 2 MW immersion expansion expected to energize in December 2025, which is projected to increase the total hashrate by nearly 10%.

Direct sales force and online platform for specialty finance services

For its specialty finance business, which provides funding to nonprofit community associations mainly in Florida, LM Funding America, Inc. relies on a direct sales force and an online platform for client acquisition and service delivery. This segment contributes to the overall top line.

Total revenue for the third quarter ended September 30, 2025, was $2.2 million, representing a 73.5% increase year-over-year. The company also successfully raised net proceeds of approximately $21.3 million in August 2025, primarily to enhance its Bitcoin treasury.

Investor relations website and SEC filings for financial data defintely

Transparency and regulatory compliance are channeled directly to stakeholders through official filings and dedicated investor resources. This is crucial for maintaining the public equity channel.

The company's investor relations website serves as the hub for official communications. Key regulatory filings include:

• Latest Quarterly Report (10-Q) filed on November 14, 2025.
• Latest Current Report (8-K) filed on December 4, 2025.
• As of September 30, 2025, the net book value of stockholders' equity was approximately $50.1 million, equating to $3.23 per share.
• The Bitcoin treasury, as of November 30, 2025, held 301.8 Bitcoin valued at approximately $27.5 million, implying a value of $2.25 per share based on a BTC price of $91,100.

Finance: draft the Q4 2025 cash flow projection by next Wednesday.

LM Funding America, Inc. (LMFA) - Canvas Business Model: Customer Segments

You're looking at the distinct groups LM Funding America, Inc. (LMFA) serves across its dual-focus business: specialty finance and digital asset mining. Honestly, segmenting these two sides is key to understanding their revenue drivers.

Institutional and retail investors seeking Bitcoin exposure and value plays represent a core segment, especially given the company's significant treasury holdings. As of November 30, 2025, LM Funding America, Inc. held 301.8 Bitcoin, valued at approximately $27.5 million. This valuation implied a Bitcoin treasury value of about $2.25 per share based on a BTC price of $91,100 on that date. For context, the common stock price was $0.99 on November 30, 2025. Institutional investors held 22.73% of the stock as of 2025. The company raised net $21.3 million in August 2025, primarily to build this Bitcoin Treasury.

The specialty finance side targets Nonprofit community associations (HOAs). LM Funding America, Inc. provides funding to these entities through its technology-enabled specialty finance business, which is primarily focused in the State of Florida. While the outline mentions Washington, Colorado, and Illinois, the latest data confirms the primary focus remains in Florida.

The energy and mining operations create segments tied to power infrastructure. Energy grid operators are customers when LM Funding America, Inc. strategically curtails mining to sell power back during peak demand. In November 2025, this resulted in approximately $76,000 in curtailment and energy sales revenue. For the third quarter of 2025, total curtailment and energy sales reached approximately $152,000.

Bitcoin network participants (miners) benefit from LM Funding America, Inc.'s hash rate contribution and infrastructure stability. The company's total energized hashrate was 0.71 EH/s as of November 30, 2025, utilizing 7,930 total machines. A 2 MW immersion expansion in Oklahoma was on schedule for energization by the end of November 2025, expected to boost the total hashrate by nearly 10%.

Here's a quick look at the operational scale serving the energy and mining segments:

Metric	November 30, 2025 Value	Q3 2025 Value
Total Energized Hashrate	0.71 EH/s	N/A
Total Operational Machines	7,930	N/A
Curtailment & Energy Sales Revenue	$76,000 (November 2025)	$152,000 (Quarter)
Total Power Capacity (Infrastructure)	N/A	26 megawatts across two sites (Q3 2025)

The specialty finance customer base is geographically concentrated, but the mining segment has expanded its footprint:

• Nonprofit HOAs served primarily in the State of Florida.
• Mining operations span facilities in Oklahoma (with 4,320 machines) and Mississippi (with 2,376 machines operational as of November 2025).
• The company held 1,234 machines in storage as of November 2025.

The market perception for investors is reflected in the discount between the stock price and the Bitcoin-backed value. On November 30, 2025, the stock traded at $0.99 versus an implied Bitcoin value of $2.25 per share. Finance: draft 13-week cash view by Friday.

LM Funding America, Inc. (LMFA) - Canvas Business Model: Cost Structure

You're looking at the core expenses for LM Funding America, Inc. (LMFA) as they scale their Bitcoin mining footprint through late 2025. The cost structure is heavily influenced by energy and capital deployment for growth.

High power and electricity costs for mining operations, offset by curtailment revenue represent a major variable cost. The company generated approximately $152,000 in curtailment and energy sales for the third quarter ended September 30, 2025, which directly offset mining costs. This was down from $223,000 generated in Q2 2025, due to cooler seasonal temperatures. The power cost secured for the newly acquired Mississippi site is noted as an attractive 3.6¢ per kilowatt-hour.

The cost to mine a single Bitcoin in Q3 2025 was reported at $66,000, an improvement from $70,000 in the second quarter of 2025. The mining margin for Q3 2025 improved to 49.0%, up from 41.0% in Q2 2025.

Staff costs and payroll are a significant fixed/semi-fixed component. Overall operating expenses increased by $0.4 million in Q3 2025. This increase was primarily attributed to higher staff costs associated with the Mississippi site acquisition and performance compensation bonuses.

The company is actively incurring capital expenditure for new mining hardware and infrastructure expansion. LM Funding America expanded its 2 MW immersion capacity at its Oklahoma site, with energization targeted for December 2025. This expansion involves Bitmain S21 immersion-cooled miners intended to deliver roughly 70 petahash to the Oklahoma site by December. Furthermore, the acquisition of the Mississippi facility added approximately 7.5 MW of energized capacity and about 230 petahash of installed hash rate.

Financing growth involves debt service costs, specifically the interest expense on the $11 million credit facility with Galaxy Digital. LM Funding America completed a privately negotiated repurchase of shares and warrants, financed through this $11 million credit facility. The exact interest expense for the period is not detailed, but the facility size is a key cost driver.

General and administrative (SG&A) expenses for corporate overhead and legal fees are bundled within the reported operating expenses. The $0.4 million increase in operating expenses was partially offset by a gain on the fair value of Bitcoin totaling $1.0 million for the quarter. The net loss for Q3 2025 was $3.7 million, with a Core EBITDA loss of $1.4 million.

Here's a quick look at key cost-related metrics from Q3 2025:

Cost/Expense Metric	Amount/Value	Period/Context
Operating Expenses Increase	$0.4 million	Q3 2025 (driven by staff costs)
Curtailment and Energy Sales Revenue	$152,000	Q3 2025
Mining Cost per Bitcoin	$66,000	Q3 2025
Mining Margin	49.0%	Q3 2025
Power Cost (Mississippi Site)	3.6¢ per kilowatt-hour	Acquisition Detail
Galaxy Digital Credit Facility Size	$11 million	Financing for Share Repurchase

The operational focus on efficiency means capital is being directed toward hardware upgrades to lower future operating costs. The company had approximately 15% of legacy machines stored for potential future deployment.

Key infrastructure and expansion figures driving future CapEx include:

• Acquired 11 MW Bitcoin mining facility in Mississippi.
• 7.5 MW operational capacity at Mississippi closing.
• 2 MW immersion expansion in Oklahoma targeted for energization by December 2025.
• Hash rate grew to approximately 0.71 exahash by the end of October 2025, up from 0.48 exahash in June 2025.

LM Funding America, Inc. (LMFA) - Canvas Business Model: Revenue Streams

You're looking at the ways LM Funding America, Inc. (LMFA) brings in cash as of late 2025. It's a mix of digital asset operations and its original specialty finance work. Honestly, the Bitcoin side is driving the big swings in the top line.

For the third quarter of 2025, LM Funding America, Inc. reported a total revenue of $2.2 million. This represented a 13.0% sequential increase and a 73.5% year-over-year rise.

The revenue streams are clearly segmented across their operations, though the specific dollar amount for the legacy finance business isn't broken out from the total in the latest reports. We know the business operates a technology-enabled specialty finance segment providing funding to nonprofit community associations, primarily in Florida.

Here's a look at the primary components of the revenue generation, using the most recent quarterly and monthly data available:

Revenue Source Component	Period	Amount/Metric
Total Reported Revenue	Q3 2025	$2.2 million
Bitcoin Mined Revenue (Implied)	Q3 2025	17.6 Bitcoins mined at an average price of approximately $114,000
Bitcoin Mined (Net)	November 2025	6.9 BTC
Curtailment and Energy Sales	November 2025	Approximately $76,000
Curtailment and Energy Sales	Q3 2025	$152,000
Gain on Fair Value of Bitcoin (Non-Operating)	Q3 2025	$1.0 million offset operating expenses
Gain on Fair Value of Bitcoin (Non-Operating)	Q2 2025	$3.8 million gain drove net income

The Bitcoin mining revenue is supplemented by power sales. For instance, in November 2025, LM Funding America, Inc. reported approximately $76,000 from curtailment and energy sales after temporarily curtailing mining during a late-month power-price spike. This curtailment revenue was $152,000 for the entire third quarter.

You also need to account for the non-operating, but material, impact of the Bitcoin treasury. The Q2 2025 results were significantly driven by a $3.8 million gain on the fair value of Bitcoin held on the balance sheet. Similarly, in Q3 2025, a gain on fair value of Bitcoin totaling $1.0 million was recorded, which partially offset operating expenses.

The legacy business, which involves interest and fee income from specialty finance, is part of the overall revenue picture, as LM Funding America, Inc. is described as a Bitcoin mining and technology-based specialty finance company.

The operational metrics support the revenue story:

• Mining margin improved to 49.0% in Q3 2025, up from 41.0% in Q2 2025.
• The company mined 17.6 Bitcoins during Q3 2025.
• The November 2025 production was 6.9 BTC (net).

Finance: draft 13-week cash view by Friday.