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LM Funding America Sells More Bitcoin Than It Mined in September

The Nasdaq-listed Bitcoin mining firm reported producing 5.9 BTC but selling 12.5 BTC in September, reducing its holdings to 304.5 BTC valued at about $34.7 million.

BTC

Summary

LM Funding America, a publicly traded company on Nasdaq, mined 5.9 BTC in September but sold 12.5 BTC during the same period, according to its official statement. This resulted in a net decrease in its Bitcoin reserves to 304.5 BTC, worth approximately $34.7 million at current prices.

Terms & Concepts
  • BTC (Bitcoin): The first and most widely used decentralized cryptocurrency, operating on a peer-to-peer network without a central authority.
  • Bitcoin Mining: The process of validating Bitcoin transactions and adding them to the blockchain by solving complex cryptographic puzzles, earning new BTC as a reward.
  • Nasdaq-listed Company: A company whose shares are traded on the Nasdaq Stock Market, one of the largest U.S. stock exchanges.