New York, May 28, 2026, 04:13 EDT
LM Funding America (NASDAQ:LMFA) traded at $0.2536 last, putting the microcap bitcoin miner and treasury outfit in the news again as it reported another extension on an $11 million loan deal with Galaxy Digital. At that price, the company’s market cap stood near $5.4 million.
The timing is key since regular U.S. stock trading hadn’t started yet. Nasdaq’s pre-market session is open from 4:00 a.m. to 9:30 a.m. Eastern Time, before the main market opens. Microcap stocks can see sharper moves in thin early trading.
LM Funding disclosed in an 8-K filed Wednesday that it pushed back a loan maturity from June 26 to August 28. The company did this by taking a fresh $11 million loan under its master digital currency loan agreement. LM Funding used the new loan to pay off the earlier one. The debt is backed by Bitcoin the firm owns, with the Bitcoin pledged as collateral to the lender.
LM Funding’s stock is now closely linked to its Bitcoin holdings. In its first-quarter update, the company said it had 334.0 Bitcoin on April 30, worth around $25.3 million, or $1.18 a share, using a Bitcoin price of about $75,800 then. First-quarter revenue came in at $2.1 million, with a net loss of about $10.1 million.
Bitcoin dropped about 3.4% to $73,284. That’s a mixed bag for LM Funding, which sees its implied treasury value go up when tokens climb, but faces pressure on collateral, fair-value numbers and mining if prices fall.
Management is making the difference between the stock’s price and the value of its Bitcoin a priority. Chairman and CEO Bruce Rodgers said this month that the company wants to “close the gap between our public valuation and the underlying value” of its Bitcoin on hand. CFO Richard Russell said the balance sheet was “positioned to support continued operating execution.” Nasdaq
LM Funding trades well below bigger mining names that usually lead sector moves. MARA last changed hands at $14.33 for a market cap near $5.45 billion. Riot Platforms is at $26.94, market value around $9.36 billion. CleanSpark traded at $18.04, valuing it at about $4.11 billion.
Indexes set new highs Wednesday, with the Nasdaq Composite up 0.07% to 26,674.74. Still, broader market gains don’t get rid of liquidity or financing problems for shares trading under $1.
Downside risk is clear. LM Funding is still trading well under Nasdaq’s $1.00 minimum bid. The company said before it has until July 6 to get back above $1.00 and stay there for at least 10 sessions. If not, it could get a second cure period, or, if that is not an option, Nasdaq may start delisting.
Operations remain steady. LM Funding reported it mined 9.4 Bitcoin in April, a slight dip from 9.6 in March. Energized hashrate stayed at 0.79 exahash per second. CEO Rodgers called April a “steady continuation” of March, saying the warmer months could bring more curtailment revenue—payments tied to cutting power use or selling it back. Businessinsider
