LM Funding America, Inc. (NASDAQ:LMFA) shares began Wednesday, as the Bitcoin mining and technology-based specialty finance company today announced a strategic partnership between its US Digital Mining and Hosting Co subsidiary and Luxor Technology Corporation, a leader in Bitcoin mining software services, for the deployment of LuxOS firmware on the Company’s Bitcoin mining fleet.
The LuxOS firmware upgrade was completed in early February 2025 and is expected to optimize the Company’s machines, increase efficiency and hashrate, and improve overall system reliability across various operational conditions. LM Funding expects this software upgrade to enhance its Bitcoin mining efficiency by 10-15%, directly resulting in higher profitability and extending machine life.
CEO Bruce M. Rodgers stated, “We are very pleased about this partnership as it enhances our hashrate by another 10-15% without any additional hardware investment. This enables us to mine more Bitcoin at higher margins and increase profitability.”
Aaron Foster, Director of Business Development at Luxor, added, “This partnership represents a critical step forward in optimizing USDM’s mining operations, maximizing uptime, reducing costs, and ensuring systems operate reliably even in challenging conditions. Together with Luxor, the Company is setting a new standard for mining efficiency, profit maximization and performance.”
LXR shares began Wednesday ahead 5.5 cents, or 2.9%, to $1.97.
