The financial services firm LM Funding America reaffirmed its expansion strategy in its first-quarter earnings report released on Friday. During the earnings call, Chairman and CEO Bruce Rodgers stated the company continues to evaluate value-accretive merger and acquisition opportunities within the 5 to 20 megawatt range. This prudent approach previously guided the company to successfully complete an acquisition in Mississippi at a cost of approximately $355,000 per megawatt.

To align with its capacity expansion plans, LM Funding extended its $11 million Bitcoin-collateralized loan with Galaxy Digital on April 6, with the new maturity date set for June 26, 2026. This loan operates under the Master Digital Currency Loan Agreement established by both parties in October 2025, marking the second extension for this facility. Chief Financial Officer Richard Russell noted that the flexibility provided by Galaxy Digital allows the company to fully capitalize on any potential upside in Bitcoin's value.

For the first quarter, the company reported total revenue of $2.1 million, representing an 11.1% year-over-year decline. During the period, it mined 26.1 Bitcoin at an average cost of approximately $75,700 per coin. As of March 31, the company held 341.2 Bitcoin, valued at around $22.9 million based on the prevailing market price at that time. However, a significant valuation gap persists between the company's stock price and the value of its Bitcoin holdings.