Tampa bitcoin firm buys mining site for $7.3M

The recent surge in valuation of bitcoin to $100,000 has boosted the holdings of Tampa-based bitcoin mining firm LM Funding America. The company also recently bought another mining site.

LM Funding, which began bitcoin mining operations in September 2022, estimated its portfolio of 142.2 bitcoins through Nov. 30 were worth $14.2 million as of Dec. 6. The total amount of bitcoins in the company’s portfolio is up slightly over October, when it had 140.5, according to company data. The November figure is up 85.11% from November 2023, when it had 75.9 bitcoin.

Bitcoin has been especially volatile in recent weeks, reaching $103,493 on Dec. 5 before falling to under $93,000, according to Yahoo! Finance. Bitcoin, according to Google, was worth $96,372 as of mid-morning Tuesday.