LM Funding to purchase 300 Bitmain S21 Antminer machines for $1.1M

LM Funding America announced that it has entered into an agreement to purchase 300 Bitmain S21 Antminer machines for approximately $1.1 million. The S21 is a high efficiency, high hash rate machine mining SHA-256 algorithm manufactured by Bitmain that generates a hash rate of 200 TH/s with a power consumption of 3,500 W. The delivery of the machines is expected during the second quarter of 2024, and once operational, will bring the Company’s mining capacity to 674 PH. Bruce Rodgers, Chairman and CEO of LM Funding, commented, “We remain committed to investing our resources, including the proceeds of our Bitcoin mining operations, into the most efficient Bitcoin mining equipment available. Our S21s will be leading producers through this year’s halving event, and we believe this model will continue to be revenue-producing through the subsequent halving event expected to occur in 2028.”