LM Funding America, Inc. Upgrades Fleet Efficiency and Hashrate with Luxor Firmware by 10-15%
TAMPA, Fla., Feb. 19, 2025 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ:LMFA) ("LM Funding" or the "Company"), a Bitcoin mining and technology-based specialty finance company, today announced a strategic partnership between its US Digital Mining and Hosting Co subsidiary ("USDM") and Luxor Technology Corporation ("Luxor"), a leader in Bitcoin mining software services, for the deployment of LuxOS firmware on the Company's Bitcoin mining fleet.
The LuxOS firmware upgrade was completed in early February 2025 and is expected to optimize the Company's machines, increase efficiency and hashrate, and improve overall system reliability across various operational conditions. LM Funding expects this software upgrade to enhance its Bitcoin mining efficiency by 10-15%, directly resulting in higher profitability and extending machine life.
Bruce M. Rodgers, Chairman and CEO of LM Funding, stated, "We are very pleased about this partnership as it enhances our hashrate by another 10-15% without any additional hardware investment. This enables us to mine more Bitcoin at higher margins and increase profitability."
Aaron Foster, Director of Business Development at Luxor, added, "This partnership represents a critical step forward in optimizing USDM's mining operations, maximizing uptime, reducing costs, and ensuring systems operate reliably even in challenging conditions. Together with Luxor, the Company is setting a new standard for mining efficiency, profit maximization and performance."
About LuxOS
Technology: LuxOS's intelligent auto-tuning, machine voltage and frequency are precisely adjusted to maximize hashrate while reducing power consumption. Additionally, LuxOS's Advanced Thermal Management system proactively maximizes fleet uptime by dynamically adjusting performance based on temperature thresholds, ensuring long-term operation stability.
Audit and Compliance: Luxor is the only U.S. based firmware to achieve SOC 2 (Type II) certification, demonstrating the Company's commitment to security, reliability, and compliance. Luxor's certification ensures that institutional Bitcoin mining operations meet the highest standards set by the industry's top auditors and best practices.
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.
About Luxor Technology Corporation
Luxor Technology Corporation is a Bitcoin mining software and services company that offers a suite of products catered toward the mining and compute power industry. Luxor's suite of software and services includes an Antminer ASIC Firmware, an ASIC Marketplace, a Bitcoin mining pool, a Hashrate Derivatives Desk, and a Bitcoin mining data platform.
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 guaranties 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, uncertainty created by the risks of operating in the cryptocurrency mining business, uncertainty in the cryptocurrency mining business in general, problems with hosting vendors in the mining business, the capacity of our Bitcoin mining machines and our related ability to purchase power at reasonable prices, the ability to finance and grow our cryptocurrency mining operations, our ability to acquire new accounts in our specialty finance business at appropriate prices, the potential need for additional capital in the future, 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:
LM Funding America, Inc.
Investor Relations
Orange Group
Yujia Zhai
[email protected]
Luxor Technology Corporation
Director, Business Development
Aaron Foster
[email protected]
