Aergo (AERGO) - AIP 21 Vote - From 02 Apr to 09 Apr 2025

- Fourth quarter and full-year 2024 total revenue of $2.0 million and $11.0 million, respectively.- Fourth quarter and full-year 2024 CORE EBITDA of $3.3 million and $3.9 million, respectively.- Held 165.8 Bitcoin on February 28, 2025 valued at approximately $14.4 million, as of March 26, 2025

TAMPA, Fla., March 31, 2025 (GLOBE NEWSWIRE) — LM Funding America, Inc. (“LM Funding” or the “Company”), a Bitcoin mining and technology-based specialty finance company, today reported financial results for the three months and full year ended December 31, 2024.

Q4’24 Financial Highlights

All variances are compared with prior year unless stated otherwise:

• Mined 21.7 Bitcoin at an average price of approximately $83,000, generating total revenue of approximately $2.0 million. The year-over-year decrease in revenue primarily reflects the effects of the April 2024 Bitcoin Halving event and the transition of miners from storage into the new Oklahoma mining site.
• Net income attributable to LM Funding shareholders was approximately $2.0 million compared with a net loss of approximately $1.6 million. The improvement in the net income was primarily driven by the new ASU Bitcoin standards that require mark-to-market valuation adjustment for our Bitcoin holdings.
• Core EBITDA was approximately $3.3 million compared with $0.3 million1. The improvements in Core EBITDA were primarily due to gains on the fair value of Bitcoin in addition to lower digital mining costs and reduced compensation.
• At year end, cash was approximately $3.4 million. Digital assets were $14.0 million based on 150.2 Bitcoin held at a price of approximately $93,000 as of December 31, 2024.
• Net book value of equity was approximately $35.3 million as of December 31, 2024 or $7.21 per share2.
• As of February 28, 2025, held 165.8 Bitcoin valued at approximately $14.4 million as of March 26, 2025 (based on Bitcoin price of approximately $87,000) or Bitcoin per share of $2.813.

________________________

1 Core EBITDA is a non-GAAP financial measure, and a reconciliation of Core EBITDA to net income can be found below.

2,3 Based on shares outstanding of 5,133,412 as of December 31, 2024.

Q4’24 Operational Highlights

• 15 MW site acquisition: The Company further executed its transition from an infrastructure-light strategy, mining at hosted facilities, to a fully vertically integrated strategy with low-cost electricity underpinning its operations. In addition to the low-cost energy, the strategy allows controlled uptime, which LM Funding believes will lead to more efficient mining and higher margins.
• Mining fleet upgrade: In Q1 2025, the Company partnered with Luxor Technology Corporation to install their proprietary LuxOS firmware on its existing fleet, which could potentially boost the Company’s mining efficiency by 10-15%. This upgrade allows LM Funding to mine Bitcoin at a higher profitability without any additional capex investment.

CEO Commentary

Bruce Rodgers, Chairman and CEO of LM Funding, commented, “Using the halving as our pivot point of opportunity, we transitioned from an infrastructure-light hosted mining strategy  to a vertically integrated model—one where we manage the infrastructure ourselves, ensuring better margins and mitigating risks associated with third-party hosting arrangements.  With our Oklahoma facility, we secured low-cost power for our miners and now we own and totally control our mining infrastructure and costs. This vertical integration significantly reduces our fleet-wide energy costs and improves our operations for enhanced uptime and mining efficiency. Looking forward, our strong balance sheet and lean operations position us to grow our mining revenue by seeking to acquire new mining sites with similar size, prices, and terms.”

CFO Commentary

Richard Russell, CFO of LM Funding, stated, "Throughout our expansion last year, we remained disciplined in our spending. By actively maintaining a low-cost structure - from power sourcing and infrastructure investments to staffing and equipment - we were able to successfully navigate a challenging year for the industry and our first Bitcoin Halving event, which occurred in April 2024. This strategic cost control enabled us to achieve profitability in 2024 on a Core EBITDA basis, as well as grow our Bitcoin treasury, which is a significant piece of our long-term strategy. By retaining a portion of our Bitcoin mined, we not only capture potential upside for shareholders but also deepen our alignment with the broader Bitcoin industry."

Full Year 2024 Financial Highlights

All variances are compared with prior year unless stated otherwise:

• Mined 170.6 Bitcoin at an average price of approximately $61,000, generating total revenue of approximately $11.0 million. The year-over-year decrease in revenue primarily reflects the effects of the April 2024 Bitcoin halving event.
• Net loss attributable to LM Funding shareholders for the year ended December 31, 2024, was approximately $7.3 million compared with a net loss of approximately $15.9 million in 2023.
• Core EBITDA income for the twelve months ended December 31, 2024 was approximately $3.9 million, compared with a Core EBITDA loss of $0.2 million in 2023. The improvements in Core EBITDA were primarily due to gains on the fair value of Bitcoin in addition to lower digital mining costs and reduced compensation.

Investor Conference Call

LM Funding will host a conference call today, March 31, 2025, at 8:00 A.M. Eastern Time to discuss the Company’s financial results for the quarter and full year ended December 31, 2024, as well as the Company’s corporate progress and other developments. A copy of this earnings release and investor presentation are available on the Company’s Investor Relations website at https://www.lmfunding.com/investors.  

Conference Call Details

• Date: March 31, 2025 
• Time: 8:00 AM EST 
• Participant Call Links: 
  • Live Webcast: Link 
  • Participant Call Registration: Link 

About LM Funding America

LM Funding America, Inc. , 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.

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 guarantees 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, the risks of operating in the cryptocurrency mining business, our limited operating history in the cryptocurrency mining business and our ability to grow that business, the capacity of our Bitcoin mining machines and our related ability to purchase power at reasonable prices, our ability to identify and acquire additional mining sites, the ability to finance our site acquisitions and cryptocurrency mining operations, our ability to acquire new accounts in our specialty finance business at appropriate prices, 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:

Investor Relations

Orange Group

Yujia Zhai

lmfundingIR@orangegroupadvisors.com

NON-GAAP CORE EBITDA RECONCILIATION

Our reported results are presented in accordance with U.S. generally accepted accounting principles (“GAAP”). We also disclose Earnings before Interest, Tax, Depreciation and Amortization ("EBITDA") and Core Earnings before Interest, Tax, Depreciation and Amortization ("Core EBITDA") which adjusts for unrealized loss on investment and equity securities, impairment loss on mined digital assets, impairment of long-lived assets, impairment of prepaid hosting deposits, contract termination costs and stock compensation expense and option expense, all of which are non-GAAP financial measures. We believe these non-GAAP financial measures are useful to investors because they are widely accepted industry measures used by analysts and investors to compare the operating performance of Bitcoin miners.

The following tables reconcile net loss, which we believe is the most comparable GAAP measure, to EBITDA and Core EBITDA:

Dubai, UAE, March 31, 2025 (GLOBE NEWSWIRE) — Between traditional banks, digital wallets, crypto exchanges, and specialized financial tools, companies often find themselves bouncing between multiple accounts, apps, and cards just to handle everyday transactions. 

This fragmented banking system isn’t just inconvenient – it is costly, inefficient, and poses a higher security risk. As each platform comes with its own set of fees, login credentials, and compliance requirements, individuals and businesses end up paying more in transaction costs and losing valuable time managing it all. 

The result? A disjointed, inefficient, and frustrating experience that hinders growth and reduces profitability. At a time when speed, simplicity, and security are non-negotiable, the old way of banking is no longer sustainable. 

Individuals and businesses deserve a better, more streamlined solution. 

Now imagine a single, unified platform that merges traditional banking with modern financial tools, an Omnibank built to give companies everything they need in one place. Biptap is leading the charge to make that vision a reality.

Biptap’s Vision? A Unified Financial Ecosystem 

Businesses today operate in a hybrid reality, where fiat and crypto, local and global, digital and physical transactions all intersect. However, managing these financial layers still requires navigating a maze of disconnected banks, apps, and platforms.

This is why Biptap envisions a different future. A future where businesses no longer need to compromise between traditional banks and modern fintech. The goal now is building the first Omnibank – an all-in-one financial platform that eliminates the need for businesses to juggle multiple banking apps, services, and systems; a platform that consolidates the best of both worlds into a single, unified financial ecosystem. 

A system where businesses manage everything – business operations, international payments, payroll whether in fiat or crypto,  and even give out loyalty rewards through one powerful, secure platform. 

What sets Biptap apart isn’t just the breadth of its offerings — it’s the depth of integration. With Biptap as an Omnibank platform, businesses can access:

• Multi-currency Accounts - Handle local and global transactions effortlessly. 
• Fiat and Crypto Wallets - Manage both traditional and digital assets side by side. 
• Secure Payment Processing - From everyday transactions to large B2B payments, all under one platform. 
• Advanced Security Architecture - Built-in protection with VOBP, AES-256 encryption, anti-quantum decryption, and asymmetric keys.
• Privacy-first Financial Framework - A privacy-centric infrastructure designed to keep financial data untouchable and untraceable. Every transaction, account detail, and user record is shielded from unauthorized access to ensure individuals and businesses maintain full control over their data without comprising compliance. 
• Whitelabel Solutions - Businesses can launch their own branded financial services on a global scale.

More than just convenience, it’s empowerment. Biptap as an Omnibank platform is designed to evolve alongside businesses. It was built to ensure businesses stay competitive no matter how fast the financial industry shifts. 

So, why do businesses need an Omnibank? 

As the demand for seamless financial solutions continues to grow, Biptap is emerging as the go-to platform for individuals seeking an all-in-one solution for their daily finances. But what about businesses? 

Say you are running a business with a different supplier for every essential tool. One vendor for raw materials, another for packaging, someone else for logistics, and a separate team for customer service. 

Sure, it works. But it’s a nightmare to manage. You waste time coordinating between providers, costs stack up, and when something goes wrong, no one takes full accountability.

That’s exactly what businesses face today with their finances. One bank for accounts, another app for payments, a separate crypto wallet, a platform for international transactions, and maybe even a custom tool to handle rewards or commissions. It’s fragmented, inefficient, and — frankly — outdated.

Now enter Biptap as an Omnibank. An all-in-one financial operating system designed to unify the entire process. One platform that handles traditional banking essentials, modern financial services, and business tools. 

Overall, Biptap as an Omnibank is Built to Empower Businesses 

You see, the financial world isn’t standing still, and neither should businesses. Biptap as an Omnibank evolves alongside the market. It’s here to ensure that companies aren’t stuck with outdated systems or are forced to rebuild their financial infrastructure every few years. 

The vision is not only about simplifying finances, but it is so much more than that. This is about empowering businesses with future-proof solutions. From integrated payment systems to custom-branded services, companies can scale faster, adapt to emerging trends, and stay competitive — all without overhauling their infrastructure.

What makes Biptap’s approach different is the ability to integrate the emerging technologies of blockchain and advanced data encryption with the stability and familiarity of traditional banking. This means businesses get the best of both worlds: reliability where it counts and innovation where it matters.

So the real power of Biptap as an Omnibank is not just about what businesses can do today, but what they’ll be ready for tomorrow.

Because why juggle five different platforms when one can do it all — faster, safer, and more efficiently? 

About Biptap

Biptap is a banking infrastructure that combines the reliability of traditional finance with the innovation of blockchain technology. Designed for both Web2 enterprises and Web3 innovators, we provide crypto and fiat transaction management with top-tier security, scalability, and accessibility.

Our solutions include virtual and physical cards, offramp services, offshore banking, payment processing, and Whitelabel business solutions. Trusted by over 200K users since 2021, Biptap processes $120M+ in monthly transactions, ensuring global banking anytime, anywhere.

Website: http://biptap.com/ 

Twitter: https://x.com/biptapofficial 

Instagram: https://www.instagram.com/biptap.official 

YouTube: https://www.youtube.com/@biptapofficial 

Discord: https://discord.com/invite/biptap 

LinkedIn: https://www.linkedin.com/company/biptap/ 

Media Contact Information

Penny Chou

Head of Marketing at Biptap

penny(at)biptap.com

TORONTO, March 31, 2025 (GLOBE NEWSWIRE) — Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA, OTCQB: MTDTF) announces the addition of two members to its team as the Company advances toward the launch of its digital gold product on the Bitcoin network in early 2025. Antoine De Vuyst has joined Matador as Chief Technology Officer (CTO), and the pseudonymous artist and developer known as dxxmsdxy (pronounced “doomsday”) has joined as Lead Designer.

Antoine De Vuyst – Chief Technology Officer

Antoine De Vuyst is a Bitcoin entrepreneur, developer, and community organizer with long-standing involvement in the crypto ecosystem. He is the founder of Bitcoin Bay, a Toronto-based crypto community launched in 2014, and has been active in the Ordinals space. Antoine is a holder and inscriber of Ordinals across Bitcoin and Litecoin, and he created the Bitbars collection on Bitcoin and Litebars on Litecoin. At Matador, Antoine will oversee product and development efforts, including work on the Company’s digital gold platform.

dxxmsdxy – Lead Designer

dxxmsdxy is a pseudonymous artist and developer known for work in onchain art on Bitcoin since 2014. They are the creator of an early 1/1 token and have contributed to the Ordinals ecosystem. Among their notable projects are BITBARS, one of the early art collections inscribed on Bitcoin, and SEEDS, a recursive project that enables holders to customize their inscriptions using onchain mechanics. With a background in product design and systems thinking, dxxmsdxy will lead the design and user experience of Matador’s digital gold platform.

“We’re excited to have Antoine and dxxmsdxy join the Matador team,” said Deven Soni, CEO of Matador Technologies. “Their combined experience with Bitcoin and Ordinals, along with their design and development expertise, will contribute significantly to the launch of our digital gold product.”

For additional information, please contact:

Media Contact:

Sunny Ray

President