LM Funding Reports Q1 2026 Earnings with Record Hash Rate and Bitcoin Production

LM Funding (LMFA) released its first-quarter 2026 earnings transcript, highlighting significant operational improvements despite a softer Bitcoin price environment. The company mined 26.1 Bitcoin during the quarter, a 19% sequential increase from the previous period, driven by an energized hash rate that reached a record 790 petahash. Key operational milestones included the deployment of Bitmain S19 XP and S21 immersion miners in Oklahoma and Mississippi, which enhanced fleet efficiency. In January, the company generated approximately $305,000 in energy and curtailment revenue by redirecting power to the grid during Winter Storm Fern. Total revenue for the quarter stood at $2.1 million, reflecting an 11% year-over-year decline primarily due to lower average Bitcoin prices, which dropped from $99,700 to $75,700. However, mining margins remained stable at roughly 24.1%, supported by energy sales. As of late March, LM Funding held a treasury of over 338 Bitcoin. Management noted that while warmer seasonal temperatures may impact Q2 efficiency, the competitive lifespan of their current hardware fleet is extended due to broader semiconductor supply constraints favoring AI chip production.