Bitcoin asset management and mining company LM Funding America has completed a $23 million financing, which will be used to expand its Bitcoin treasury

ChainCatcher news, Nasdaq-listed company LM Funding America, Inc. (stock code: LMFA) recently announced the completion of approximately $23 million in financing, including $12.6 million in a registered offering and $10.4 million in a private placement. The company stated that the net proceeds from this offering will primarily be used to expand its Bitcoin asset reserves.

As a financial services company focused on Bitcoin asset management and mining operations, LM Funding launched its Bitcoin vault strategy in 2021 and expanded its mining business in 2022. To date, the company has accumulated 150 Bitcoins and has 26 megawatts of self-owned mining capacity.

Recently, LM Funding also announced plans to acquire an 11-megawatt mining facility located in Columbus, Mississippi, from Greenidge Generation, further expanding its low-cost mining capacity.