LM Funding America (NASDAQ:LMFA), a cryptocurrency mining and specialty finance company, today announced its financial results for the fourth quarter and full year ended December 31, 2025.
For the fourth quarter of 2025, LM Funding reported total revenue of $2.4 million, representing a 19.2% increase compared to the fourth quarter of 2024 and an 8.7% sequential growth from the third quarter.
The revenue lift was primarily driven by the company’s improved mining efficiency, resulting in the production of 22 BTC during the quarter.
However, the company reported a net loss of $17.9 million for the fourth quarter, compared to a much narrower loss in the prior year.
This figure was heavily impacted by non-cash items, including mark-to-market losses on the company’s Bitcoin holdings and a $5.4 million impairment charge.
Additionally, the company incurred higher depreciation expenses and one-time costs associated with the integration of its recently acquired mining site in Mississippi.
Core EBITDA loss for the quarter was $9.3 million.
As of December 31, 2025, LM Funding maintained a Bitcoin treasury of 356.4 BTC, which includes coins held as collateral with Galaxy Digital.
The company’s cash position stood at approximately $1.4 million.
Despite the quarterly net loss, management remains focused on the "HODL" strategy for its mined Bitcoin, betting on long-term appreciation to strengthen the balance sheet as the mining fleet continues to modernize.