By Chris Wack
LM Funding America Inc. mentioned Wednesday it’s launching a cryptocurrency mining enterprise by shopping for 1,000 S19J Professional Miner Machines from Bitmain for $6.3 million.
LM Funding mentioned that for its preliminary funding of 1,000 machines, its buy worth will vary between $6,000 to $6,500 per machine, as in comparison with $11,000 to $15,000 per machine at the moment obtainable on the spot market.
LM Funding has established a brand new subsidiary, US Digital Mining and Internet hosting Co., to function the brand new mining enterprise, and is within the course of of creating an information middle to host the professional miner machines. The corporate expects all 1,000 newly bought miners to be delivered between the second and third quarter of 2022, and sees the cryptocurrency mining operations starting as quickly because the second quarter of 2022.
LM Funding shares had been up 15% to $5.13 in premarket buying and selling.
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