LM Funding America (LMFA) 10-Q 17 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 09, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Title of 12(b) Security	Common Stock par value $0.001 per share
Security Exchange Name	NASDAQ
Trading Symbol	LMFA
Entity Registrant Name	LM FUNDING AMERICA, INC.
Entity Central Index Key	0001640384
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,091,883
Entity File Number	001-37605
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-3844457
Entity Address, Address Line One	1200 West Platt Street
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33606
City Area Code	813
Local Phone Number	222-8996
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2022	Dec. 31, 2021
ASSETS
Cash	$ 17,046,595	$ 32,559,185
Finance receivables:
Original product - net	2,520	13,993
Special product - New Neighbor Guaranty program, net of allowance for credit losses of	21,077	14,200
Short-term investments - convertible debt securities (Note 7)		539,351
Marketable securities (Note 7)	37,220	2,132,051
Short-term investments - debt security (Note 7)	2,185,863	2,000,000
Prepaid expenses and other assets	1,389,562	1,251,852
Income tax receivable (Note 4)	143,822
Note receivable from related party (Note 7)	910,000
Digital assets (Note 10)	408,879
Current assets	22,145,538	38,510,632
Fixed assets, net (Note 9)	15,084,921	17,914
Real estate assets owned	80,057	80,057
Operating lease - right of use assets (Note 5)	313,629	59,969
Long-term investments - equity securities (Note 7)	516,420	1,973,413
Investments in unconsolidated affiliates (Note 7)	17,362,125	4,676,130
Deposits on mining equipment and hosting (Note 8)	14,466,162	16,775,100
Other assets	10,726	10,726
Long-term assets	47,834,040	23,593,309
Total assets	69,979,578	62,103,941
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses	436,479	463,646
Note payable - short-term (Note 3)		114,688
Due to related party (Note 2)	371,179	121,220
Current portion of lease liability (Note 5)	90,030	68,002
Income tax payable (Note 4)		326,178
Total current liabilities	897,688	1,093,734
Lease liability - long-term (Note 5)	226,319
Long-term liabilities	226,319
Total liabilities	1,124,007	1,093,734
Stockholders’ equity:
Preferred stock, par value $.001; 150,000,000 shares authorized; no shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively
Common stock, par value $0.001; 350,000,000 shares authorized; 13,091,883 and 13,017,943 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	13,092	13,018
Additional paid-in capital	81,821,510	74,525,106
Accumulated deficit	(16,660,717)	(13,777,006)
Total stockholders’ equity	65,173,885	60,761,118
Non-controlling interest	3,681,686	249,089
Total stockholders’ equity	68,855,571	61,010,207
Total liabilities and stockholders’ equity	$ 69,979,578	$ 62,103,941

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	150,000,000	150,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	350,000,000	350,000,000
Common stock, shares issued	13,091,883	13,017,943
Common stock, shares outstanding	13,091,883	13,017,943

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Interest on delinquent association fees	$ 112,140	$ 62,673	$ 213,408	$ 140,117
Administrative and late fees	19,698	16,861	36,406	31,932
Recoveries in excess of cost - special product	35,990	178,769	53,355	208,242
Underwriting and other revenues	26,125	35,494	42,916	58,197
Rental revenue	40,580	34,588	79,452	66,505
Total revenues	234,533	328,385	425,537	504,993
Operating Expenses:
Professional fees	1,031,431	360,024	1,806,251	842,967
Settlement costs with associations			160
Selling, general and administrative	122,271	96,015	237,191	195,784
Recovery of cost from related party receivable		(100,000)		(100,000)
Provision for credit losses	500		500	(10,000)
Real estate management and disposal	22,414	29,478	53,895	47,768
Depreciation and amortization	2,007	3,298	5,101	4,994
Collection costs	(7,906)	2,701	(11,726)	4,749
Other operating expenses	141,009	4,069	149,393	11,614
Total operating expenses	5,608,421	641,625	10,829,657	2,545,897
Operating loss	(5,373,888)	(313,240)	(10,404,120)	(2,040,904)
Realized gain (loss) on securities	45,261	8,453,570	(349,920)	14,125,034
Realized gain on convertible debt securities	287,778		287,778
Unrealized gain (loss) on convertible debt security	(288,320)	2,501,600		2,501,600
Unrealized loss on marketable securities	(24,030)		(23,900)
Impairment loss on digital assets	(377,707)		(377,707)
Unrealized gain on investment and equity securities	12,215,401	552,494	11,229,002	1,147,886
Digital assets other income	1,292		5,658
Interest income	80,975	73,884	179,345	86,939
Interest expense		(189)		(653)
Dividend income	1,375		2,750
Income before income taxes	6,568,137	11,268,119	548,886	15,819,902
Income tax expense		(13,780)		(17,264)
Net income	6,568,137	11,254,339	548,886	15,802,638
Less: Net income attributable to non-controlling interest	(3,723,797)	(146,857)	(3,432,597)	(318,723)
Net income (loss) attributable to LM Funding America Inc.	$ 2,844,340	$ 11,107,482	$ (2,883,711)	$ 15,483,915
Earnings/(loss) per share:
Basic income (loss) per common share - net income (loss) - attributable to LM Funding	$ 0.22	$ 2.05	$ (0.22)	$ 2.96
Diluted income (loss) per common share - net income (loss) - attributable to LM Funding	$ 0.22	$ 2.05	$ (0.22)	$ 2.95
Weighted average number of common shares outstanding:
Basic	13,091,882	5,414,296	13,076,359	5,231,909
Diluted	13,091,882	5,423,162	13,076,359	5,245,656
Service [Member]
Operating Expenses:
Staff costs and payroll	$ 4,296,695	$ 246,040	$ 8,588,892	$ 1,548,021

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 6,568,137	$ (6,019,251)	$ 11,254,339	$ 4,548,299	$ 548,886	$ 15,802,638
Adjustments to reconcile net income to cash used in operating activities
Depreciation and amortization					5,101	4,994
Right to use asset non cash lease expense					47,127	49,797
Stock compensation					658,999
Stock option expense					6,637,479
Debt forgiveness						(157,251)
Accrued investment income					(176,438)	(86,938)
Gain on deconsolidation of affiliate						(43,623)
Unrealized gain on convertible debt security						(2,501,600)
Unrealized loss on marketable securities	24,030				23,900
Impairment loss on digital assts	377,707				377,707
Unrealized gain on investment and equity securities					(11,229,002)	(1,147,886)
Realized (gain) loss on securities					349,920	(14,125,034)
Realized gain on convertible note securities					(287,778)
Investment in securities						(15,547,454)
Proceeds from securities					2,565,893	29,672,488
Investment in convertible note receivable						(5,000,000)
Convertible note receivable converted into marketable security					844,882
Investment in marketable Securities					(844,882)	(247,997)
Change in assets and liabilities
Prepaid expenses and other assets					623,511	11,105
Accounts payable and accrued expenses					(27,168)	184,239
Advances from related party					249,959	142,191
Lease liability payments					(52,440)	(50,353)
Income tax payable					(326,178)
Income tax receivable					(143,822)
Deferred taxes						17,264
Net cash provided by (used in) operating activities					(154,344)	6,976,580
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for real estate assets owned						(64,857)
Capital expenditures					(13,235)	(3,185)
Deposits for mining equipment and hosting					(13,538,333)
Investments in digital assets					(786,586)
Loan to purchase securities						1,784,250
Investment in note receivable - related party					(910,000)
Repayment of loan to purchase securities						(1,784,250)
Investment in unconsolidated affiliate						(5,738,000)
Net cash (used in) investing activities					(15,243,558)	(5,775,665)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal repayments						(28,534)
Insurance financing repayments					(114,688)	(96,257)
Exercise of warrants						9,544,623
Net cash provided by (used in) financing activities					(114,688)	9,419,832
NET INCREASE (DECREASE) IN CASH					(15,512,590)	10,620,747
CASH - BEGINNING OF YEAR		$ 32,559,185		$ 11,552,943	32,559,185	11,552,943	$ 11,552,943
CASH - END OF YEAR	$ 17,046,595		$ 22,173,690		17,046,595	22,173,690	$ 32,559,185
SUPPLEMENTAL DISCLOSURES OF NON-CASHFLOW INFORMATION
ROU assets and operating lease obligation recognized					300,787
Reclassification of mining equipment deposit to fixed assets, net					15,058,872
SUPPLEMENTAL DISCLOSURES OF CASHFLOW INFORMATION
Cash paid for interest						1,892
Cash paid for income taxes					470,000
Original Product [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Net collections of finance receivables					11,473	30,831
Special Product [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Net collections of finance receivables					$ (6,877)	$ (454)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Non-Controlling Interest [Member]
Balance at Dec. 31, 2020	$ 11,468,308	$ 3,084	$ 29,996,257	$ (18,536,224)	$ 5,191
Balance, shares at Dec. 31, 2020		3,083,760
Stock issued for warrants exercised	9,544,623	$ 2,330	9,542,293
Stock issued for warrants exercised, shares		2,330,536
Net income (loss)	4,548,299			4,376,433	171,866
Balance at Mar. 31, 2021	25,561,230	$ 5,414	39,538,550	(14,159,791)	177,057
Balance, shares at Mar. 31, 2021		5,414,296
Balance at Dec. 31, 2020	11,468,308	$ 3,084	29,996,257	(18,536,224)	5,191
Balance, shares at Dec. 31, 2020		3,083,760
Net income (loss)	15,802,638
Balance at Jun. 30, 2021	36,815,569	$ 5,414	39,538,550	(3,052,309)	323,914
Balance, shares at Jun. 30, 2021		5,414,296
Balance at Dec. 31, 2020	11,468,308	$ 3,084	29,996,257	(18,536,224)	5,191
Balance, shares at Dec. 31, 2020		3,083,760
Balance at Dec. 31, 2021	61,010,207	$ 13,018	74,525,106	(13,777,006)	249,089
Balance, shares at Dec. 31, 2021		13,017,943
Balance at Mar. 31, 2021	25,561,230	$ 5,414	39,538,550	(14,159,791)	177,057
Balance, shares at Mar. 31, 2021		5,414,296
Net income (loss)	11,254,339			11,107,482	146,857
Balance at Jun. 30, 2021	36,815,569	$ 5,414	39,538,550	(3,052,309)	323,914
Balance, shares at Jun. 30, 2021		5,414,296
Balance at Dec. 31, 2021	61,010,207	$ 13,018	74,525,106	(13,777,006)	249,089
Balance, shares at Dec. 31, 2021		13,017,943
Stock issued for services		$ 74	(74)
Stock issued for services, shares		73,940
Stock compensation	329,500		329,500
Stock option expense	3,318,737		3,318,737
Net income (loss)	(6,019,251)			(5,728,051)	(291,200)
Balance at Mar. 31, 2022	58,639,193	$ 13,092	78,173,269	(19,505,057)	(42,111)
Balance, shares at Mar. 31, 2022		13,091,883
Balance at Dec. 31, 2021	61,010,207	$ 13,018	74,525,106	(13,777,006)	249,089
Balance, shares at Dec. 31, 2021		13,017,943
Net income (loss)	548,886
Balance at Jun. 30, 2022	68,855,571	$ 13,092	81,821,510	(16,660,717)	3,681,686
Balance, shares at Jun. 30, 2022		13,091,883
Balance at Mar. 31, 2022	58,639,193	$ 13,092	78,173,269	(19,505,057)	(42,111)
Balance, shares at Mar. 31, 2022		13,091,883
Stock compensation	329,499		329,499
Stock option expense	3,318,742		3,318,742
Net income (loss)	6,568,137			2,844,340	3,723,797
Balance at Jun. 30, 2022	$ 68,855,571	$ 13,092	$ 81,821,510	$ (16,660,717)	$ 3,681,686
Balance, shares at Jun. 30, 2022		13,091,883

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations LM Funding America, Inc. (“we”, “our”, “LMFA” or the “Company”) was formed as a Delaware corporation on April 20, 2015. LMFA was formed for the purpose of completing a public offering and related transactions in order to carry on the business of LM Funding, LLC and its subsidiaries (the “Predecessor”). LMFA is the sole member of LM Funding, LLC and operates and controls all of its businesses and affairs. LM Funding, LLC, a Florida limited liability company organized in January 2008 under the terms of an Operating Agreement effective January 8, 2008 as amended, had two members: BRR Holding, LLC and CGR 63, LLC. The members contributed their equity interest to LMFA prior to the closing of its initial public offering. The Company created two subsidiaries in 2020, LMFA Financing LLC on November 21, 2020 and LMFAO Sponsor LLC on October 29, 2020. LMFAO Sponsor LLC created a majority owned subsidiary LMF Acquisition Opportunities Inc. on October 29, 2020. The LM Funding America Inc. organized another subsidiary, US Digital Mining and Hosting Co., LLC., on September 10, 2021. We are a specialty finance company that provides funding to nonprofit community associations primarily located in the state of Florida. We offer incorporated nonprofit community associations, which we refer to as “Associations,” a variety of financial products customized to each Association’s financial needs. Our original product offering consists of providing funding to Associations by purchasing their rights under delinquent accounts that are selected by the Associations arising from unpaid Association assessments. Historically, we provided funding against such delinquent accounts, which we refer to as “Accounts,” in exchange for a portion of the proceeds collected by the Associations from the account debtors on the Accounts. In addition to our original product offering, we have started purchasing Accounts on varying terms tailored to suit each Association’s financial needs, including under our New Neighbor Guaranty™ program. During 2020, we began exploring other specialty finance business opportunities that are complementary to or that can leverage our historical business. Specialty Finance Company We purchase an Association’s right to receive a portion of the Association’s collected proceeds from owners that are not paying their assessments. After taking assignment of an Association’s right to receive a portion of the Association’s proceeds from the collection of delinquent assessments, we engage law firms to perform collection work on a deferred billing basis wherein the law firms receive payment upon collection from the account debtors or a predetermined contracted amount if payment from account debtors is less than legal fees and costs owed. Under this business model, we typically fund an amount equal to or less than the statutory minimum an Association could recover on a delinquent account for each Account, which we refer to as the “Super Lien Amount”. Upon collection of an Account, the law firm working on the Account, on behalf of the Association, generally distributes to us the funded amount, interest, and administrative late fees, with the law firm retaining legal fees and costs collected, and the Association retaining the balance of the collection. In connection with this line of business, we have developed proprietary software for servicing Accounts, which we believe enables law firms to service Accounts efficiently and profitably. Under our New Neighbor Guaranty program, an Association will generally assign substantially all of its outstanding indebtedness and accruals on its delinquent units to us in exchange for payment by us of monthly dues on each delinquent unit. This simultaneously eliminates a substantial portion of the Association’s balance sheet bad debts and assists the Association to meet its budget by receiving guaranteed monthly payments on its delinquent units and relieving the Association from paying legal fees and costs to collect its bad debts. We believe that the combined features of the program enhance the value of the underlying real estate in an Association and the value of an Association’s delinquent receivables. Because we acquire and collect on the delinquent receivables of Associations, the Account debtors are third parties about whom we have little or no information. Therefore, we cannot predict when any given Account will be paid off or how much it will yield. In assessing the risk of purchasing Accounts, we review the property values of the underlying units, the governing documents of the relevant Association, and the total number of delinquent receivables held by the Association. Specialty Finance Products Original Product Our original product relies upon Florida statutory provisions that effectively protect the principal amount invested by us in each Account. In particular, Section 718.116(1), Florida Statutes, makes purchasers and sellers of a unit in an Association jointly and severally liable for all past due assessments, interest, late fees, legal fees, and costs payable to the Association. As discussed above, the Florida Statutes grants to Associations a so-called “super lien”, which is a category of lien that is given a statutorily higher priority than all other types of liens other than property tax liens. The amount of the Association’s priority over a first mortgage holder that takes title to a property through foreclosure (or deed in lieu), referred to as the Super Lien Amount, is limited to twelve months’ past due assessments or, if less, one percent (1.0%) of the original mortgage amount. Under our contracts with Associations for our original product, we pay Associations an amount up to the Super Lien Amount for the right to receive all collected interest and late fees on Accounts purchased from the Associations. The Statutes specify that the rate of interest an association (or its assignor) may charge on delinquent assessments is equal to the rate set forth in the association’s declaration or bylaws. In Florida if a rate is not specified, the statutory rate is equal to 18% but may not exceed the maximum rate allowed by law. Similarly, the Florida Statutes also stipulate that administrative late fees cannot be charged on delinquent assessments unless so provided by the association’s declaration or bylaws and may not exceed the greater of $25 or 5% of each delinquent assessment. In other states in which we have offered our original product, which are currently only in Washington, Colorado and Illinois, we rely on statutes that we believe are similar to the above-described Florida statutes in relevant respects. New Neighbor Guaranty In addition to our original product, we also offer an additional product, the New Neighbor Guaranty, wherein an Association assigns substantially all of its outstanding indebtedness and accruals on its delinquent units to us in exchange for payments in an amount equal to the regular ongoing monthly or quarterly assessments for delinquent units when those amounts would be due to the Association. We assume both the payment and collection obligations for these assigned Accounts under this product. This simultaneously eliminates an Association’s balance sheet bad debts and assists the Association to meet its budget by receiving guaranteed assessment payments on its delinquent units and relieving the Association from paying legal fees and costs to collect its bad debts. We believe that the combined features of the product enhance the value of the underlying real estate in an Association and the value of an Association’s delinquent receivables. Before we implement the New Neighbor Guaranty program for an Association we are typically asked to conduct a review of its accounts receivable. After we have conducted the review, we inform the Association which Accounts we are willing to purchase and the terms of such purchase. Once we implement the New Neighbor Guaranty program, we begin making scheduled payments to the Association on the Accounts as if the Association had non-delinquent residents occupying the units underlying the Accounts. Our New Neighbor Guaranty contracts typically allow us to retain all collection proceeds on each Account other than special assessments and accelerated assessment balances. Thus, the Association foregoes the potential benefit of a larger future collection in exchange for the certainty of a steady stream of immediate payments on the Account. Cryptocurrency Mining Business On September 15, 2021, we announced that we plan to operate in the Bitcoin mining ecosystem. As of the date of this filing, we have not commenced Bitcoin mining operations. We aim to deploy the computing power that we will create to mine Bitcoin and validate transactions on the Bitcoin network. We believe that recent developments in Bitcoin mining have created an opportunity for us to deploy capital and conduct large-scale mining operations in the United States. We have formed a new wholly owned subsidiary, US Digital Mining and Hosting Co, LLC, a Florida limited liability company (US Digital), to develop and operate our cryptocurrency mining business. We have committed to purchasing an aggregate of 5,046 Bitcoin S19J Pro Antminer cryptocurrency mining machines for an aggregate purchase price of $31.6 million (the “Mining Machines”). We received 2,521Mining Machines as of June 30, 2022. This contract allowed for a reduction in purchase price if Bitcoin price declined prior to shipment. As such we have been provided various credits over the Six Month ended June 30, 2022 as Bitcoin declined to approximately $19,000. to the equipment. Since the inception of our contract with Bitm a in, we have paid an aggregate of approximately $ 25.1 million to Bitmain and related vendors relating to the purchase of these machines through June 30, 2022, and expect to pay an additional $ 1.0 million under the Bitmain contract through the completion of the delivery of the machines as a result of variable pricing described above . In October 2021, we also entered into a sale and purchase agreement (the “Uptime Purchase Agreement”) with Uptime Armory LLC (“Uptime”) pursuant to which US Digital agreed to purchase, and Uptime agreed to supply to US Digital, an aggregate of 18 modified 40-foot cargo containers (“POD5ive containers”) that will be designed to hold and operate 280 S19 Pro Antminers manufactured by Bitmain. The purchase price of the POD5ive containers totals $3.15 million of which $2.4 million or 75% was paid in 2021 as a non-refundable down payment and the remaining 25% was due within five business days after Uptime delivers a “notice of completion” of the equipment. No containers have been delivered as of June 30, 2022. On the same effective date, US Digital also entered into a hosting agreement with Uptime Hosting LLC(the “Hosting Agreement”) to host the Company’s 18 POD5ive containers at a secure location and provide power, maintenance and other services specified in the contract for 6 cents per kilowatt with a term of one year. Under the Hosting Agreement we paid a deposit of $0.8 million in 2021 and were required to pay an additional deposit for each container three months prior to delivery at the hosting site of $44 thousand and a final deposit for each container one month prior to arrival at the hosting site of $44 thousand. On June 29, 2022, the Company entered into a mutual termination agreement pursuant to which the parties agreed to terminate the Hosting Agreement. The deposits paid for hosting services under the Hosting Agreement are refundable. On June 21, 2022, the “Company entered into a Master Agreement, dated effective as of June 20, 2022, with Compute North LLC (“Compute North”) under which Compute North has agreed to host up to 4,200 of LMFA’s S19J Pro Antminer Machines (S19J) (100 TH/s) (“Bitmain Miner Machines”) and provide colocation, management and other services (the “Master Agreement”). The term of the Master Agreement is for 60 months, subject to earlier termination in specified circumstances. The Company paid a non-refundable co-location deposit of $1,262,621 on June 21, 2022 under the Master Agreement. The hosting cost under the Master Agreement is expected to approximate $21,000 per day when all hosted machines become fully operational. Principles of Consolidation The condensed consolidated financial statements include the accounts of LMFA and its wholly-owned subsidiaries: LM Funding, LLC; LMF October 2010 Fund, LLC; REO Management Holdings, LLC (including all 100% owned subsidiary limited liability companies); LM Funding of Colorado, LLC; LM Funding of Washington, LLC; LM Funding of Illinois, LLC; US Digital Mining Hosting Co., LLC; LMF SPE #2, LLC and various single purpose limited liability corporations owned by REO Management Holdings, LLC which own various properties. It also includes LMFA Sponsor LLC (a 69.5% owned subsidiary). All significant intercompany balances have been eliminated in consolidation. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The interim condensed consolidated financial statements as of June 30, 2022 and for the Three and Six Months ended June 30, 2022 and June 30, 2021, respectively are unaudited. In the opinion of management, the interim condensed consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary to provide a fair statement of the results for the interim periods. The accompanying consolidated balance sheet as of December 31, 2021, is derived from the audited consolidated financial statements presented in the Company’s Annual Report on Form 10-K for fiscal the year ended December 31, 2021. Reclassifications Certain prior period amounts on the balance sheet have been reclassified to conform to the current period presentation. Digital Assets When applicable, we account for all digital assets other than stablecoin as indefinite-lived intangible assets in accordance with ASC 350, Intangibles—Goodwill and Other. We determine the fair value of our digital assets that are accounted for as intangible assets in accordance with ASC 820, Fair Value Measurement , based on quoted prices on the active exchange(s) that we have determined is the principal market for such assets (Level 1 inputs). We perform an analysis each quarter to identify whether events or changes in circumstances indicate that it is more likely than not that our digital assets are impaired. If the current carrying value of a digital asset exceeds the fair value so determined, an impairment loss has occurred with respect to those digital assets in the amount equal to the difference between their carrying values and the price determined. The impaired digital assets are written down to their fair value at the time of impairment and this new cost basis will not be adjusted upward for any subsequent increase in fair value. Gains are not recorded until realized upon sale, at which point they are presented separately from of any impairment losses. There is currently no specific guidance under GAAP or alternative accounting framework for the accounting for digital assets recognized as revenue or held, and management has exercised significant judgment in determining the appropriate accounting treatment. In the event authoritative guidance is enacted by the FASB, the Company may be required to change its policies, which could have an effect on the Company’s consolidated financial position and results from operations. Fixed Assets, Net The Company capitalizes all acquisitions of fixed assets in excess of $500. Fixed assets are stated at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets and commences once the assets are ready for their intended use. Fixed assets are comprised of furniture, computer, office equipment and mining machines with assigned useful lives of 3 to 5 years. The Company operates in an emerging industry for which limited data is available to make estimates of the useful economic lives of mining machines. To the extent that any of the assumptions underlying management’s estimate of useful life of its mining machines are subject to revision in a future reporting period, either as a result of changes in circumstances or through the availability of greater quantities of data, then the estimated useful life could change and have a prospective impact on depreciation expense and the carrying amounts of these assets. Impairment of Long-Lived Assets Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to undiscounted future cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment amount is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. There was no impairment of long-lived assets for the Three and Six Months ended June 30, 2022 and 2021. Investment in Securities Investment in Securities includes investments in common stocks, note receivables, and convertible notes receivables. Investments in securities are reported at fair value with changes in unrecognized gains or losses included in other income on the income statement. The fair value of the BORQ convertible note receivable is based on its classification as a trading security. The Symbiont note receivable is reported at amortized costs less impairment. Fair Value of Financial Instruments FASB ASC 825-10, Financial Instruments, requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet. Investments in Unconsolidated Entities We account for investments in less than 50% owned and more than 20% owned entities using the equity method of accounting. Because we have elected the fair value option for these securities, unrealized holding gains and losses during the period are included in earnings. Income (Loss) Per Share Basic income (loss) per share is calculated as net income (loss) to common stockholders divided by the weighted average number of common shares outstanding during the period (as adjusted to give effect to the Reverse Stock Split). The Company issued approximately 74 thousand shares and 2.3 million shares at various times during the Six Months ended June 30, 2022 and June 30, 2021, respectively, and has weighted averaged these new shares in calculating income (loss) per share for the relevant period. Diluted income (loss) per share for the period equals basic loss per share as the effect of any convertible notes, stock based compensation awards or stock warrants would be anti-dilutive. The anti-dilutive stock based compensation awards consisted of: As of June 30, 2022 2021 Stock Options 3,956,827 3,860 Stock Warrants 7,677,441 391,900

Due to Related Party

Due to Related Party	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Due to Related Party	Note 2. Due to Related Party Legal services for the Company associated with the collection of delinquent assessments from property owners are performed by a law firm, Business Law Group (“BLG”), which was owned solely by Bruce M. Rodgers, the Chief Executive Officer of LMFA, until and through the date of the Company’s initial public offering in 2015. Following the offering in 2015, Mr. Rodgers transferred his interest in BLG to other attorneys at the firm through a redemption of his interest in the firm, and BLG became under control of those lawyers. The law firm has historically performed collection work primarily on a deferred billing basis wherein the law firm receives payment for services rendered upon collection from the property owners or at amounts ultimately subject to negotiations with the Company. Under the agreement, the Company paid BLG a fixed monthly fee of $82,000 for services rendered. The Company paid BLG a minimum per unit fee of $700 in any case where there is a collection event and BLG receives no payment from the property owner. This provision has been expanded to also include any unit where the Company has taken title to the unit or where the association has terminated its contract with either BLG or the Company. On February 1, 2022, the Company consented to the assignment by BLG to the law firm BLG Association Law, PLLC (“BLGAL”) of the Services Agreement, dated April 15, 2015, previously entered into by the Company and Business Law Group, P.A. (the “Services Agreement”). The Services Agreement had set forth the terms under which Business Law Group, P.A. would act as the primary law firm used by the Company and its association clients for the servicing and collection of association accounts. The assignment of the Services Agreement was necessitated by the death of the principal attorney and owner of Business Law Group, P.A. In connection with the assignment, BLGAL agreed to amend the Services Agreement on February 1, 2022, to reduce the monthly compensation payable to the law firm from $82,000 to $53,000 (the “Amendment”). Bruce M. Rodgers, the chairman and CEO of the Company, is a 50% owner of BLGAL, and the assignment and Amendment was approved by the independent directors of the Company. A $150 thousand termination fee was also paid to BLG in association with the assignment. The Company had originally engaged BLG on behalf of many of its Association clients to service and collect the Accounts and to distribute the proceeds as required by Florida law and the provisions of the purchase agreements between LMF and the Associations. This engagement was subsequently assigned to BLGAL as described above. Ms. Gould who is one of our directors, worked as the General Manager of BLG and works as the General Manager of BLGAL Amounts collected from property owners and paid to BLG or BLGAL as applicable for the Three and Six Months ended June 30, 2022 and 2021 were approximately $159,000 and $347,000 for 2022 and $246,000 and $492,000 for 2021, respectively. As of June 30, 2022 and December 31, 2021, receivables from property owners for charges ultimately payable to BLGAL or BLGAL were approximately $565,000 and $677,000, respectively. Under the Services Agreement in effect during the Six Months ended June 30, 2022 and 2021, the Company pays all costs (lien filing fees, process and serve costs) incurred in connection with the collection of amounts due from property owners. Any recovery of these collection costs is accounted for as a reduction in expense incurred. The Company incurred expenses related to these types of costs for the Three and Six Months ended June 30, 2022 and 2021 in the amounts of $14,000 and $34,000 for 2022 and $28,000 and $50,000 for 2021, respectively. The Company also shares office space and related common expenses with BLGAL (and previously BLG). All shared expenses, including rent, are charged to BLG based on an estimate of actual usage. Any expenses of BLGAL and BLG paid by the Company that have not been reimbursed or settled against other amounts are reflected as due from related parties in the accompanying consolidated balance sheets. BLGAL and In 2017, the Company assessed the collectability of the amount due from BLG and concluded that even though BLG had repaid $252,771 during 2017, it did not have the ability to repay the remaining balance at the end of 2017 and as such took a reserve of approximately $1.4 million for the balance due as of December 31, 2017. In 2021 and 2020, the Company subsequently recouped $200,000 and $500,000, respectively, of this write-off. Additional recoveries of the reserve are not expected. No amounts were recouped in 2022. Amounts payable to BLGAL and BLG, in aggregate as of June 30, 2022 and December 31, 2021 were approximately $371,200 and $121,200, respectively .

Debt and Other Financing Arrang

Debt and Other Financing Arrangements	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt and Other Financing Arrangements	Note 3. Debt and Other Financing Arrangements June 30, 2022 December 31, 2021 Financing agreement with FlatIron capital that was unsecured. Down payment of $36,255 was required upfront and equal installment payments of $19,114 were made over a 10 month period. The note matured on May 1, 2022. Annualized interest was 3.95% $ - $ 114,688 $ - $ 114,688

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 4. Income Taxes Prior to the Company’s initial public offering in October 2015, the earnings of the Predecessor, which was a limited liability company taxed as a partnership, were taxable to its members. In connection with the contribution of membership interests to the Company (a C-Corporation formed in 2015), the net income or loss of the Company after the initial public offering is taxable to the Company and reflected in the accompanying consolidated financial statements. The Company performs an evaluation of the realizability of its deferred tax assets on a quarterly basis. The Company considers all positive and negative evidence available in determining the potential of realizing deferred tax assets, including the scheduled reversal of temporary differences, recent and projected future taxable income and prudent and feasible tax planning strategies. The estimates and assumptions used by the Company in computing the income taxes reflected in the accompanying consolidated financial statements could differ from the actual results reflected in the income tax returns filed during the subsequent year. Adjustments are recorded based on filed returns when finalized or the related adjustments are identified. Under ASC 740-10-30-5, Income Taxes Significant components of the tax expense (benefit) recognized in the accompanying consolidated statements of operations for the Three and Six Months ended June 30, 2022 and June 30, 2021 are as follows: Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Current tax benefit Federal $ (1,001,827 ) $ 2,324,460 $ (1,363,542 ) $ 3,238,298 State (234,022 ) 480,942 (282,124 ) 670,019 Total current tax expense (benefit) (1,235,849 ) 2,805,402 (1,645,666 ) 3,908,317 Deferred tax expense 1,943,058 13,781 921,926 21,995 Change in tax rates (211,815 ) - (211,815 ) - Valuation allowance (expense) (495,394 ) (2,805,403 ) 935,555 (3,913,048 ) Income tax (reduction) benefit $ - $ 13,780 $ - $ 17,264 The reconciliation of the income tax computed at the combined federal and state statutory rate of 24.6% and 25.4% for the Three and Six Months ended June 30, 2022 and 25.4% for the Three and Six Months ended June 30, 2021 to the income tax benefit is as follows: Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Benefit on net loss $ 700,573 24.6% $ 2,818,684 25.4% $ (731,566 ) 25.4% $ 3,928,774 25.4% Nondeductible expenses 6,636 0.2% 499 0.0% 7,826 -0.3% 1,538 0.0% Valuation allowance (expense) (495,394 ) (17.4)% (2,805,403 ) (25.3)% 935,555 (32.4)% (3,913,048 ) (25.3)% Tax rate change (211,815 ) (7.4)% - (—)% (211,815 ) 7.3% - (—)% Tax benefit/effective rate $ - (—)% $ 13,780 0.1% $ - (—)% $ 17,264 0.1% The significant components of the Company’s deferred tax liabilities and assets as of June 30, 2022 and December 31, 2021 are as follows: As of June 30, 2022 As of December 31, 2021 Deferred tax liabilities: Right to Use asset $ (79,489 ) $ - Deferred vendor stock compensation (111,349 ) (261,323 ) Total deferred tax liabilities (190,838 ) (261,323 ) Deferred tax assets: Loss carryforwards 3,884,170 2,101,401 Step up in basis at contribution to C-Corp 465,781 461,078 Stock option expense 2,395,939 669,959 Step up in basis - purchase of non-controlling interest 42,981 42,529 Allowance for credit losses 17,618 16,539 Right to Use assets 80,178 - Digital asset impairment loss 95,730 - Unrealized loss on securities (2,609,537 ) 216,284 Total deferred tax asset 4,372,860 3,507,790 Valuation allowance (4,182,022 ) (3,246,467 ) Net deferred tax asset (liability) $ - $ - During the Six Months ended June 30, 2022, the Company offset $1.6 million of it’s tax recovery with $0.9 million of its valuation allowance, $0.9 million deferred tax asset offset in part by a $0.2 million tax change. During the Six Months ended June 30, 2021, the Company offset $3.9 million of it’s tax expense with $3.9 million of its valuation allowance.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 5. Commitments and Contingencies Leases The Company leases certain office space, construction and office equipment, vehicles and temporary housing generally under non-cancelable operating leases. Leases with an initial term of one year or less are not recorded on the balance sheet, and the Company generally recognizes lease expense for these leases on a straight-line basis over the lease term. As of June 30, 2022, the Company’s operating leases have remaining lease terms ranging from less than one year to three years, some of which include options to renew the leases. The exercise of lease renewal options is generally at the Company’s sole discretion. The Company’s leases do not contain any material residual value guarantees or material restrictive covenants. The Company determines if an arrangement is a lease at inception. Operating lease ROU assets and current and long-term operating lease liabilities are separately stated on the consolidated balance sheet as of June 30, 2022. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The present value of future lease payments are discounted using either the implicit rate in the lease, if known, or the Company’s incremental borrowing rate for the specific lease as of the lease commencement date. The ROU asset is also adjusted for any prepayments made or incentives received. The lease terms include options to extend or terminate the lease only to the extent it is reasonably certain any of those options will be exercised. Lease expense is recognized on a straight-line basis over the lease term. The Company accounts for lease components (e.g., fixed payments) separate from the non-lease components (e.g., common-area maintenance costs). The Company’s office lease began July 15, 2019 and was due to expire on July 31, 2022. During the Three Months ended March 31, 2022 the Company exercised its option to extend its office lease to July 31, 2025. Due to the lease extension, the Company remeasured the lease liability and ROU asset associated with the lease. The Company accounted for the lease extension as a lease modification under ASC 842. At the effective date of modification, the Company recorded an adjustment to the right-of-use asset and lease liability in the amount of $300,787 based on the net present value of lease payments discounted using an estimated borrowing rate of 7.5%. The Company shares this space and the related costs associated with this operating lease with a related party (see Note 2) that also performs legal services associated with the collection of delinquent assessments. The related party has a sub-lease for approximately $4,900 per month plus operating expenses. Net rent expense recognized for the Three and Six Months ended June 30, 2022 and 2021 was approximately $28,600 and $52,000 for 2022 and $22,600 and 47,500 for 2021, respectively. The following table presents supplemental balance sheet information related to operating leases as of June 30, 2022 and December 31, 2021 : Balance Sheet Line Item June 30, 2022 December 31, 2021 Assets ROU assets Right of use asset, net $ 313,629 $ 59,969 Total lease assets $ 313,629 $ 59,969 Liabilities Current lease liabilities Lease liability $ 90,030 $ 68,002 Long-term lease liabilities Lease liability 226,319 - Total lease liabilities $ 316,349 $ 68,002 Weighted-average remaining lease term (in years) 3.13 0.60 Weighted-average discount rate 7.49 % 6.55 % The following table presents supplemental cash flow information and non-cash activity related to operating leases for the Six Months ended June 30, 2022 and 2021: Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Operating cash flow information Cash paid for amounts included in the measurement of lease liabilities $ (52,440 ) $ (50,353 ) Non-cashflow information ROU assets and operating lease obligation recognized $ 300,787 $ - The following table presents maturities of operating lease liabilities on an undiscounted basis as of June 30, 2022: Operating Leases 2022 (excluding the six months ended June 30, 2022) $ 57,263 2023 108,039 2024 113,794 2025 77,733 (less: imputed interest) (40,480 ) $ 316,349 Legal Proceedings Except as described below, we are not currently a party to material pending or known threatened litigation proceedings. However, we frequently become party to litigation in the ordinary course of business, including either the prosecution or defense of claims arising from contracts by and between us and client Associations. Regardless of the outcome, litigation can have an adverse impact on us because of prosecution, defense, and settlement costs, diversion of management resources and other factors. The Company accrues for contingent obligations, including estimated legal costs, when the obligation is probable and the amount is reasonably estimable. As facts concerning contingencies become known, the Company reassesses its position and makes appropriate adjustments to the consolidated financial statements. Estimates that are particularly sensitive to future changes include those related to tax, legal, and other regulatory matters. On March 9, 2022, legal counsel to a purported stockholder of the Company threatened to file a direct and derivative complaint alleging breaches of fiduciary duty by the Company’s officers and directors, primarily with respect to (i) the Amended and Restated Employment Agreements entered into by the Company with each of Mr. Rodgers and Mr. Russell in October 2021; (ii) the approval of actions taken at our 2021 annual meeting of stockholders in December 2021; (iii) payments made to Business Law Group, P.A. in exchange for services provided pursuant to the Services Agreement between the Company and Business Law Group; and (iv) strategic advisory agreements entered into by us in connection with our planned cryptocurrency mining business. On May 20, 2022, the Company and the purported stockholder agreed to a settlement of the stockholder’s alleged claims under which the Company is required to seek a new independent director to replace Joel Rodgers within six months of the settlement date, engage a compensation consultant to review certain sections of the Company’s executive employment agreements within ninety days of the settlement date, make changes in response to the consultant’s recommendation within six months of the settlement date and pay the attorney fees and other related legal costs incurred by the counterparty in an amount of $275,000. The settlement payment is included within "Professional Fees" within our consolidated statements of operations for the Three and Six Months ended June 30, 2022.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders' Equity	Note 6. Stockholders’ Equity Stock Options The 2015 Omnibus Incentive Plan provides for the issuance of stock options, stock appreciation rights, performance shares, performance units, restricted stock, restricted stock units, shares of our common stock, dividend equivalent units, incentive cash awards or other awards based on our common stock. Awards may be granted alone or in addition to, in tandem with, or (subject to the 2015 Omnibus Incentive Plan’s prohibitions on repricing) in substitution for any other award (or any other award granted under another plan of ours or of any of our affiliates). The following is a summary of the stock option plan activity during the Six Months ended June 30, 2022 and 2021: 2022 2021 Number of Weighted Average Number of Weighted Average Options Exercise Price Options Exercise Price Options Outstanding at Beginning of the year 3,956,827 $ 6.22 3,860 $ 302.55 Granted - - - - Exercised - - - - Adjustment - - - - Forfeited - - - - Options Outstanding at June 30, 3,956,827 $ 6.22 3,860 $ 302.55 Options Exercisable at June 30, 37,794 $ 34.60 3,860 $ 302.55 Stock compensation expense recognized for the Three and Six Months ended June 30, 2022 was approximately $ 3.3 million and $6.6 million, respectively, and $nil for the Three and Six Months ended June 30, 2021. There was $10.2 million of unrecognized compensation cost associated with unvested stock options as of June 30, 2022. The aggregate intrinsic value of the outstanding common stock options as of each of June 30, 2022 and December 31, 2021 was approximately $0 and $0, respectively. Stock Issuance In the year ended December 31, 2021, the Company issued 73,940 shares to management as part of their employment contracts of which $229,500 was expensed. The shares were physically issued in February 2022. The Company issued 200,000 shares on November 4, 2021 pursuant to an agreement that is for one year with two vendors who provide consulting in the blockchain and crypto currency field. The total fair value of the stock at the time of issuance was approximately $1,318,000 of which we expensed approximately $329,500 and approximately $659,000 during the Three and Six Months ended June 30, 2022, respectively. Warrants The following is a summary of the warrant activity during the Six Months ended June 30, 2022 and 2021: 2022 2021 Number of Weighted Average Number of Weighted Average Warrants Exercise Price Warrants Exercise Price Warrants outstanding at beginning of the year 7,702,441 $ 5.00 2,718,012 $ 4.20 Granted - - - - Exercised - - (2,326,112) 4.08 Terminated (25,000) 4.50 - - Warrants outstanding and exercisable at June 30, 7,677,441 $ 5.00 391,900 $ 4.35 During the Six Months ended June 30, 2022, 25,000 warrants expired. During the Six Months ended June 30, 2021, the Company received approximately $9.5 million upon the exercise by warrant holders of warrants for approximately 2.3 million shares

Investments

Investments	6 Months Ended
	Jun. 30, 2022
Investments [Abstract]
Investments	Note 7. Investments Short-term Investments – convertible debt securities The Company entered into an agreement with BORQS Technologies Inc. (“Borqs”) (Nasdaq: BRQS) in February 2021 under which the Company agreed to purchase Senior Secured Convertible Promissory Notes (“Notes”) of Borqs up to an aggregate principal amount of $5 million. The Company’s purchase of the Notes was a part of a larger transaction in which an aggregate of $20 million in Notes were sold by Borqs in a private transaction to several institutional and individual investors, including the Company. The Notes become due in February 2023, have an annual interest rate of 8%, are convertible into ordinary shares of Borqs at a 10% discount from the market price, and have 90% warrant coverage (with the warrants exercisable at 110% of the conversion price. The Company received 2,922,078 warrants which had a nominal value on the grant date. One-third of the Notes ($1,666,667) were funded by the Company at the execution of definitive agreements for the transaction, and two-thirds of the Notes ($3,333,333) were purchased and funded upon the satisfaction of certain conditions, including effectiveness As of June 30, 2021 the Company considered the fair value of the Borqs convertible note to be equal to the fair value of the stock on June 30, 2021 or $1.45 per share times the number of shares that it could be converted into based on a conversion price of $0.972 or 5,233,475 shares with an aggregate fair value of $7,588,538. As of June 30, 2021, the re-measurement resulted in an unrealized gain of $2,501,600 which is included within “Unrealized gain on convertible debt security” in the consolidated statements of operations for the Three and Six Months ended June 30, 2021. During the year ended December 31, 2021, the Company converted $4,100,000 of the outstanding principal under the Notes plus accrued interest of $131,760 into 5,960,829 shares of Borqs. The Company sold 1,064,935 shares in the year ending December 31, 2021 and classified the remaining shares as marketable securities. The remaining shares were sold during the first quarter of 2022 which resulted in a realized loss of $ 395 thousa nd which is reflected in ‘Realized gain on securities’ in the consolidated statements of operations within the Si x M onths ended June 30, 2022 . The remaining principal amount of the Notes plus accrued interest through the date of conversion ($ 965,096 ) was converted into common shares of Borqs at a conversion price of $ per share or 3,863,200 shares. A gain of $ 287,778 was recognized on the conversion of the convertible debt to common shares and is included within “Realized gain on convertible debt securities” in the consolidated statement s of operations for the Three and S ix M onths ended June 30, 2022. Subsequent to the conversion, the 3,863,200 shares were sold which resulted in a realized gain of $ 45 thousand which is include d withi n ‘Realized gain on securities’ in the consolidated statements of operations for the Three and S ix M onths ended June 30, 2022 . Short-term investments in convertible debt securities consist of the following: June 30, 2022 December 31, 2021 June 30, 2021 Convertible note $ - $ 539,351 $ 7,588,538 End of period $ - $ 539,351 $ 7,588,538 June 30, 2022 June 30, 2021 Beginning of year $ 539,351 $ - Investment in convertible debt security - 5,000,000 Accrued interest income on debt security 17,753 86,938 Unrealized gain on convertible debt security - 2,501,600 Convertible debt and interest converted into marketable shares (844,882 ) Realized gain on conversion into marketable shares 287,778 End of period $ - $ 7,588,538 In December 2020, the Company entered into a Loan Agreement (the “Investor Loan Agreement”) with a private investor (“Investor”) pursuant to which the Investor agreed to provide consulting services and make one or more non-recourse loans to the Company in a principal amount of up to the purchase price of the Borqs loan receivables purchased by the Company. The Investor Loan Agreement does not provide a fixed rate of interest, and the Company and Investor agreed to split the net proceeds from the Company sales of the settlement shares, with the Company receiving one-third of the net proceeds after a return of Investor’s principal and the Investor receiving return of principal plus two-thirds of the net proceeds thereafter. As part of that transaction in which funding began in January 2021 and in which transactions occurred during the Six Months ended June 30, 2021, the Company recognized a $5.7 million gain on the Borqs loan receivables loan transaction in which we acquired $18.2 million of Borqs debt for $15.5 million and converted the debt into Borqs common stock and subsequently sold such shares for $32.6 million, provided $11.3 million to the Investor and realized a $5.7 million gain. That transaction was completed by June 30, 2021. Note Receivable – related party On February 1, 2022, LMAO issued an unsecured promissory note to LMFAO Sponsor LLC, pursuant to which LMAO may borrow up to an aggregate principal amount of $500,000 to be used for a portion of LMAO’s expenses. On July 28, 2022 (effective as of June 30, 2022), the aggregate principal limit was increased to $1,750,000. The loan is non-interest bearing, unsecured and due at the earlier of the 24 month anniversary of LMAO’s initial public offering or the closing of its initial business combination. As of June 30, 2022, LMAO had drawn down $910,000 under the promissory note with LMFAO Sponsor LLC to pay for offering expenses. Short-term investments – debt securities Short-term investments held to maturity in debt securities consist of the following: The Company entered into a secured promissory note and loan agreement with Symbiont.IO, Inc. (“Symbiont”) on December 1, 2021 under which the Company agreed to lend Symbiont an aggregate principal amount of up to $3 million. The outstanding principal amount under the note will bear interest at a rate of 16% per annum. The outstanding principal, plus any accrued and unpaid interest, becomes due and payable on December 1, 2022. The Symbiont note is secured by a first priority perfected security interest in the assets of Symbiont. Concurrently with the execution of the Symbiont note, the Company and Symbiont entered into a First Refusal and Purchase Option Agreement, dated December 1, 2021 (the “ROFR Agreement”), to provide the Company with certain rights relating to the potential purchase of the capital stock or assets of Symbiont. Pursuant to the terms of the ROFR Agreement, in the event that Symbiont expects to accept a third-party offer that would result in a sale of Symbiont, then the Company will have the first right and option to purchase, upon the same terms and conditions as the third-party offer, the assets or capital stock of Symbiont, subject to certain terms and exclusions as described in the ROFR Agreement. The Company’s rights under the ROFR Agreement are assignable to third parties. The ROFR Agreement will expire on December 1, 2022 . Upon the occurrence of any e vent of d efault, the Company may, under its sole and absolute discretion, elect to convert the total outstanding principal and accrued but unpaid interest into shares of common stock of Symbiont at a conversion price per share equal to $ 3.0642 (subject to adjustment for any stock splits, reverse stock splits and similar changes in the capital stock of Symbiont). As of June 30, 2022 and December 31, 2021, there was $ 185,863 and $ 27,178 of accrued interest included in Short-term investments – debt securities. As part of a $2 million loan to Symbiont in December 2021, the Company received 700,000 warrants. Each warrant is immediately exercisable at a purchase price of $3.0642 per share of Common Stock, subject to adjustment in certain circumstances, and will expire on December 1, 2026. The Company determined the warrants to have a nominal value at inception and as of June 30, 2022 due to lack of marketability. June 30, 2022 December 31, 2021 June 30, 2021 Symbiont.IO Note Receivable $ 2,185,863 $ 2,027,178 $ - End of period $ 2,185,863 $ 2,027,178 $ - June 30, 2022 June 30, 2021 Beginning of year $ 2,027,178 $ - Accrued interest income on debt security 158,685 - Unrealized loss - - End of period $ 2,185,863 $ - Marketable Securities Our marketable equity securities are publicly traded stocks measured at fair value using quoted prices for identical assets in active markets and classified as Level 1 within the fair value hierarchy. Marketable equity securities as of June 30, 2022 and December 31, 2021 are as follows: Cost Cost of Shares Sold Gross Unrealized Gain (Loss) Fair Value Marketable equity securities, June 30, 2022 $ 2,976,933 $ (2,915,813 ) $ (23,900 ) $ 37,220 Marketable equity securities, December 31, 2021 4,766,349 $ (1,246,708 ) (1,387,590 ) 2,132,051 During the Three and Six Months ended June 30, 2022, the Company sold 3,863,200 and 8,759,094 shares, respectively, of Borqs shares for approximately $890 thousand and $2,318 thousand, respectively. The Company realized a net gain (loss) of $45 thousand and ($350) thousand for the Three and Six Months ended June 30, 2022, respectively. The net gain (loss) is included within "Realized gain (loss) on securities" within our consolidated statements of operations. Long-term Investments In connection with LMF Acquisition Opportunities Inc (“LMAO”) Derivatives and Hedging. forfeiture should no business combination occur. Subsequent changes in fair value will be recorded in the income statement during the period of the change. As of June 30, 2022 and 2021 , our re-measurement resulted in an unrealized loss of approximately $ 433,000 and $ Three and Six Months ended June 30, 2022 and approximately $ 506,000 unrealized gain and $ unrealized loss for the Three and Six Months e nded June 30, 2021. The unrealized loss is included within "Unrealized gain (loss) on investment and equity securities" within our consolidated statement s of operation s . Long-term investments as of consist of the following: June 30, 2022 December 31, 2021 June 30, 2021 LMF Acquisition Opportunities Inc. warrants $ 516,420 $ 1,973,413 $ 2,295,200 End of period $ 516,420 $ 1,973,413 $ 2,295,200 June 30, 2022 June 30, 2021 Beginning of year $ 1,973,413 $ - Investments in affiliate - 5,738,000 Unrealized loss on investment in affiliate (1,456,993 ) (3,442,800 ) End of period $ 516,420 $ 2,295,200 Investment in Unconsolidated Affiliates LMF Acquisition Opportunities Inc. The Company is the sponsor of LMF Acquisition Opportunities, Inc. (“LMAO”), a special purpose acquisition company that completed an initial public offering in January 2021. Prior to LMAO’s initial public offering, LMFA Sponsor LLC (“Sponsor”), a 70% owned subsidiary of the Company, organized and initially capitalized LMAO by a $25,000 purchase of Class B shares par value $0.0001 per share, of LMAO. At the time of the initial public offering of LMAO, Sponsor purchased Private Placement Warrants that allow it to purchase 5,738,000 shares of Class A common stock at an exercise price of $11.50. The Class B shares and Private Placement Warrants were issued to and are held by Sponsor. The shares of Class B common stock of LMAO held by Sponsor will automatically convert into shares of LMAO’s Class A common stock on a one-for-one basis at the time of LMAO’s initial business combination and are subject to certain transfer restrictions. The registration statement for LMAO’s initial public offering (the “LMAO IPO”) was declared effective on January 25, 2021 and on January 28, 2021, LMAO consummated the LMAO IPO with the sale of 10,350,000 units (the “Units” and, with respect to the shares of Class A common stock included in the Units sold, the “Public Shares”), at $10.00 per Unit, generating gross proceeds of $103,500,000. The Units trade on the NASDAQ Capital Market under the ticker symbol “LMAOU”. After the securities comprising the units began separate trading on March 18, 2021, the shares of Class A common stock and warrants were listed on NASDAQ under the symbols “LMAO” and “LMAOW,” respectively. As a result of the LMAO IPO, we ceased having a controlling financial interest in LMAO as of January 28, 2021 . The Company’s investment in LMAO is held through a 69.5% equity interest in Sponsor. The LMAO IPO closed on January 28, 2021 and proceeds from LMAO’s IPO totaled $103.5 million. If LMAO does not complete a business combination within 18 months from the closing of LMAO’s IPO, the proceeds from the sale of the Private Placement Warrants (after LMAO IPO transaction costs) will be used to fund the redemption of the shares sold in the LMAO IPO (subject to the requirements of applicable law), and the private warrants will expire without value. The Sponsor holds approximately 20% of the total common shares (Class A and Class B) in LMAO along with the 5,738,000 Private Placement Warrants. The Sponsor is managed by the Company. The Company has determined that as a result of the LMAO IPO, we ceased having a controlling financial interest in LMAO as of January 25, 2021. The Company, therefore, accounts for its interest in LMAO under the equity method of accounting. Additionally, as our retained investment in LMAO qualifies for equity-method accounting, we were required to remeasure our retained interest at fair value and include any resulting adjustments as part of a gain or loss recognized on deconsolidation. The fair value calculation related to our retained interest in LMAO is dependent upon company-specific adjustments applied to both the observable trading price of LMAO’s Class A common stock and the related risk of forfeiture should LMAO not consummate a business combination. On April 21, 2022, LMF Acquisition Opportunities, Inc. (“ LMAO As of June 30, 2022 due to the progression of the pending merger with SeaStar Medical, Inc. the Company recalculated the fair value of our interest in LMAO which included a reassessment of the risk of forfeiture. Based on the work performed, we concluded that the risk of forfeiture has decreased and the value of our retained interest has increased. As a result of the remeasurement of our retained interest in LMAO, we recognized an unrealized gain on securities of $12.7 million and $4.6 million for the Six Months ended June 30, 2022 and 2021, within "Unrealized gain (loss) on investment and equity securities" within our consolidated statements of operations. June 30, 2022 December 31, 2021 June 30, 2021 LMF Acquisition Opportunities Inc. common stock $ 17,362,125 $ 4,676,130 $ 4,615,583 End of period $ 17,362,125 $ 4,676,130 $ 4,615,583 June 30, 2022 June 30, 2021 Beginning of year $ 4,676,130 $ 25,000 Unrealized gain on investment in affiliate 12,685,995 4,590,583 End of period $ 17,362,125 $ 4,615,583 The net unrealized gain on securities from the Company’s investment in LMAO’s Class B shares and warrants totaled $12.2 million and $11.2 million, respectively for the Three and Six Months ended June 30, 2022 and $0.5 million and $1.1 million for the Three and Six Months ended June 30, 2021.

Deposits On Mining Equipment an

Deposits On Mining Equipment and Hosting	6 Months Ended
	Jun. 30, 2022
Deposits On Mining Equipment And Hosting [Abstract]
Deposits on Mining Equipment and Hosting	Note 8. Deposits on Mining Equipment and Hosting On September 8, 2021, the Company entered into a sale and purchase agreement (the “First Bitmain Purchase Agreement”) with Bitmain Technologies Limited (“Seller”) pursuant to which the Company agreed to purchase, and Seller agreed to supply to the Company, an aggregate of 1,002 Bitcoin S19J Pro Antminer cryptocurrency mining machines for an aggregate purchase price of $6.3 million (the “Mining Machines”). On October 6, 2021, the Company entered into an additional sale and purchase agreement (the “Second Purchase Agreement” and, collectively with the First Bitmain Purchase Agreement, the Purchase Agreements) with Seller pursuant to which the Company agreed to purchase, and Seller agreed to supply to the Company, an aggregate of 4,044 mining machines for an aggregate purchase price of $25.3 million. This contract allowed for a reduction in purchase price if Bitcoin price declined prior to shipment. As such we have been provided various credits over the Six Month ended June 30, 2022 as Bitcoin declined to approximately $19,000. In 2021, t he Company entered into an agreement with Miami based Bit5ive subsidiary Uptime Armory LLC to manufacture 18 Pod5ive specialty containers for approximately $ 3.1 million and paid $ 2.4 million as a non-refundable deposit for the containers. None of the container s have been delivered as of June 30, 2022. The Company also entered into a hosting agreement with Uptime Hosting LLC (the “Hosting Agreement”) to house and service LMFA’s mining machines for $ 0.06 per kilowatt and the Company paid $ 0.8 million in 2021 as a deposit for the hosting service s and an additional deposit for each container three months prior to delivery at the hosting site of $ 44 thousand and a final deposit for each container one month prior to arrival at the hosting site of $ 44 thousand . On June 29, 2022 the Company entered into a mutual termination agreement pursuant to which the parties agreed to terminate the H osting A greement. The $ 788 thousand d eposit paid for hosting services under the Hosting A greement is refundable and is included within Prepaid expenses and other assets on the consolidated balance sheet a s of June 30, 2022 . On June 21, 2022, the “Company entered into a Master Agreement, dated effective as of June 20, 2022, with Compute North LLC (“Compute North”) under which Compute North has agreed to host up to 4,200 of LMFA’s S19J Pro Antminer Machines (S19J) (100 TH/s) (“Bitmain Miner Machines”) and provide colocation, management and other services (the “Master Agreement”). The term of the Master Agreement is for 60 months, subject to earlier termination in specified circumstances. The Company paid a $1.3 million non-refundable co-location deposit on June 21, 2022 under the Master Agreement. The hosting cost under the Master Agreement is expected to be approximately $21,000 per day when all hosted machines become fully operational. The Company classifies deposit payments within Deposits on mining equipment and hosting in the consolidated balance sheet. As mining machines are received, the respective cost of the mining machines plus the related shipping and customs fees are reclassified from Deposits on mining equipment and hosting to Fixed assets, net in the consolidated balance sheet. Refer to Note 9. As of June 30, 2022 and December 31, 2021, the Company has a total of approximately $14.5 and $16.8 million, respectively, classified as Deposits on mining equipment and approximately $15.1 million and $0 , respectively, classified as Fixed assets, net in the consolidated balance sheet under these payment arrangements.

Fixed Assets, net

Fixed Assets, net	6 Months Ended
	Jun. 30, 2022
Property Plant And Equipment [Abstract]
Fixed Assets, net	Note 9. Fixed Assets, net The components of fixed assets as of June 30, 2022 and December 31, 2021 are as follows: Useful Life (Years) June 30, 2022 December 31, 2021 Mining machines 5 $ 15,058,872 - Furniture, computer and office equipment 3-5 213,022 199,786 Gross fixed assets 15,271,894 199,786 Less: accumulated depreciation (186,973 ) (181,872 ) Fixed assets, net $ 15,084,921 $ 17,914 As of June 30, 2022, 2,521 mining machines have been received but have not yet been placed into service, therefore, depreciation has not commenced on these assets. The Company’s depreciation expense related to furniture, computer and office equipment recognized for the Three and Six Months ended June 30, 2022 and 2021 was approximately $2,000 and $5,100 for 2022 and $3,300 and $5,000 for 2021, respectively.

Digital Assets

Digital Assets	6 Months Ended
	Jun. 30, 2022
Digital Assets [Abstract]
Digital Assets	Note 10. Digital Assets Digital assets consist of the following: June 30, 2022 December 31, 2021 June 30, 2021 Bitcoin $ 408,879 $ - $ - End of period $ 408,879 $ - $ - June 30, 2022 June 30, 2021 Beginning of Year $ - $ - Purchase of digital assets 1,286,586 - GUSD Earned on digital assets 5,658 - Sale of digital assets (505,658 ) Impairment loss (377,707 ) - End of Period $ 408,879 $ - During the Three and Six Months ended June 30, 2022, the Company purchased and received an aggregate of 21.5 Bitcoin for approximately $787 thousand. These digital assets are recorded at cost, net of any impairment losses incurred since acquisition. During the Three and Six months ended June 30, 2022, we recorded approximately $378,000 of impairment losses on such digital assets. As of June 30, 2022, the carrying value of our digital assets held was approximately $409,000, which reflects the cumulative impairment. The impairment loss was included within “Impairment loss on digital assets” within the consolidated statements of operations. During the Three and Six Months ended June 30, 2022, the Company purchased and received an aggregate of $0 and $500 thousand, respectively, in Gemini Dollars (GUSD). GUSD earns additional Gemini dollars, of which we earned approximately $1 thousand and $5.6 thousand GUSD during the Three and Six months ended June 30, 2022 which was recorded as “Digital assets other income” in the consolidated statements of operation. During the Three and Six Months ended June 30, 2022, the Company did not record any impairment losses on GUSD. The Company sold all of the GUSD during the six months ended June 30, 2022 for approximately $506 thousand, which was equal to its carrying value.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 11. Subsequent Events On July 29, 2022, LMAO issued a press release announcing that its board of directors elected to extend the date by which LMAO has to consummate a business combination from July 29, 2022 to October 29, 2022 (the “Extension”), as permitted under LMAO’s Amended and Restated Certificate of Incorporation. In connection with the Extension, LMFAO Sponsor deposited an aggregate of $1,035,000 (representing $0.10 per public share of LMAO) into LMAO’s trust account on July 29, 2022. This deposit was made in respect of a non-interest bearing loan to LMAO (the “Extension Loan”). LMAO anticipates repaying the loan upon the completion of an initial business combination. If LMAO does not complete its initial business combination by October 29, 2022, LMAO will only repay the Extension Loan from funds held outside of its trust account.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations LM Funding America, Inc. (“we”, “our”, “LMFA” or the “Company”) was formed as a Delaware corporation on April 20, 2015. LMFA was formed for the purpose of completing a public offering and related transactions in order to carry on the business of LM Funding, LLC and its subsidiaries (the “Predecessor”). LMFA is the sole member of LM Funding, LLC and operates and controls all of its businesses and affairs. LM Funding, LLC, a Florida limited liability company organized in January 2008 under the terms of an Operating Agreement effective January 8, 2008 as amended, had two members: BRR Holding, LLC and CGR 63, LLC. The members contributed their equity interest to LMFA prior to the closing of its initial public offering. The Company created two subsidiaries in 2020, LMFA Financing LLC on November 21, 2020 and LMFAO Sponsor LLC on October 29, 2020. LMFAO Sponsor LLC created a majority owned subsidiary LMF Acquisition Opportunities Inc. on October 29, 2020. The LM Funding America Inc. organized another subsidiary, US Digital Mining and Hosting Co., LLC., on September 10, 2021. We are a specialty finance company that provides funding to nonprofit community associations primarily located in the state of Florida. We offer incorporated nonprofit community associations, which we refer to as “Associations,” a variety of financial products customized to each Association’s financial needs. Our original product offering consists of providing funding to Associations by purchasing their rights under delinquent accounts that are selected by the Associations arising from unpaid Association assessments. Historically, we provided funding against such delinquent accounts, which we refer to as “Accounts,” in exchange for a portion of the proceeds collected by the Associations from the account debtors on the Accounts. In addition to our original product offering, we have started purchasing Accounts on varying terms tailored to suit each Association’s financial needs, including under our New Neighbor Guaranty™ program. During 2020, we began exploring other specialty finance business opportunities that are complementary to or that can leverage our historical business. Specialty Finance Company We purchase an Association’s right to receive a portion of the Association’s collected proceeds from owners that are not paying their assessments. After taking assignment of an Association’s right to receive a portion of the Association’s proceeds from the collection of delinquent assessments, we engage law firms to perform collection work on a deferred billing basis wherein the law firms receive payment upon collection from the account debtors or a predetermined contracted amount if payment from account debtors is less than legal fees and costs owed. Under this business model, we typically fund an amount equal to or less than the statutory minimum an Association could recover on a delinquent account for each Account, which we refer to as the “Super Lien Amount”. Upon collection of an Account, the law firm working on the Account, on behalf of the Association, generally distributes to us the funded amount, interest, and administrative late fees, with the law firm retaining legal fees and costs collected, and the Association retaining the balance of the collection. In connection with this line of business, we have developed proprietary software for servicing Accounts, which we believe enables law firms to service Accounts efficiently and profitably. Under our New Neighbor Guaranty program, an Association will generally assign substantially all of its outstanding indebtedness and accruals on its delinquent units to us in exchange for payment by us of monthly dues on each delinquent unit. This simultaneously eliminates a substantial portion of the Association’s balance sheet bad debts and assists the Association to meet its budget by receiving guaranteed monthly payments on its delinquent units and relieving the Association from paying legal fees and costs to collect its bad debts. We believe that the combined features of the program enhance the value of the underlying real estate in an Association and the value of an Association’s delinquent receivables. Because we acquire and collect on the delinquent receivables of Associations, the Account debtors are third parties about whom we have little or no information. Therefore, we cannot predict when any given Account will be paid off or how much it will yield. In assessing the risk of purchasing Accounts, we review the property values of the underlying units, the governing documents of the relevant Association, and the total number of delinquent receivables held by the Association. Specialty Finance Products Original Product Our original product relies upon Florida statutory provisions that effectively protect the principal amount invested by us in each Account. In particular, Section 718.116(1), Florida Statutes, makes purchasers and sellers of a unit in an Association jointly and severally liable for all past due assessments, interest, late fees, legal fees, and costs payable to the Association. As discussed above, the Florida Statutes grants to Associations a so-called “super lien”, which is a category of lien that is given a statutorily higher priority than all other types of liens other than property tax liens. The amount of the Association’s priority over a first mortgage holder that takes title to a property through foreclosure (or deed in lieu), referred to as the Super Lien Amount, is limited to twelve months’ past due assessments or, if less, one percent (1.0%) of the original mortgage amount. Under our contracts with Associations for our original product, we pay Associations an amount up to the Super Lien Amount for the right to receive all collected interest and late fees on Accounts purchased from the Associations. The Statutes specify that the rate of interest an association (or its assignor) may charge on delinquent assessments is equal to the rate set forth in the association’s declaration or bylaws. In Florida if a rate is not specified, the statutory rate is equal to 18% but may not exceed the maximum rate allowed by law. Similarly, the Florida Statutes also stipulate that administrative late fees cannot be charged on delinquent assessments unless so provided by the association’s declaration or bylaws and may not exceed the greater of $25 or 5% of each delinquent assessment. In other states in which we have offered our original product, which are currently only in Washington, Colorado and Illinois, we rely on statutes that we believe are similar to the above-described Florida statutes in relevant respects. New Neighbor Guaranty In addition to our original product, we also offer an additional product, the New Neighbor Guaranty, wherein an Association assigns substantially all of its outstanding indebtedness and accruals on its delinquent units to us in exchange for payments in an amount equal to the regular ongoing monthly or quarterly assessments for delinquent units when those amounts would be due to the Association. We assume both the payment and collection obligations for these assigned Accounts under this product. This simultaneously eliminates an Association’s balance sheet bad debts and assists the Association to meet its budget by receiving guaranteed assessment payments on its delinquent units and relieving the Association from paying legal fees and costs to collect its bad debts. We believe that the combined features of the product enhance the value of the underlying real estate in an Association and the value of an Association’s delinquent receivables. Before we implement the New Neighbor Guaranty program for an Association we are typically asked to conduct a review of its accounts receivable. After we have conducted the review, we inform the Association which Accounts we are willing to purchase and the terms of such purchase. Once we implement the New Neighbor Guaranty program, we begin making scheduled payments to the Association on the Accounts as if the Association had non-delinquent residents occupying the units underlying the Accounts. Our New Neighbor Guaranty contracts typically allow us to retain all collection proceeds on each Account other than special assessments and accelerated assessment balances. Thus, the Association foregoes the potential benefit of a larger future collection in exchange for the certainty of a steady stream of immediate payments on the Account. Cryptocurrency Mining Business On September 15, 2021, we announced that we plan to operate in the Bitcoin mining ecosystem. As of the date of this filing, we have not commenced Bitcoin mining operations. We aim to deploy the computing power that we will create to mine Bitcoin and validate transactions on the Bitcoin network. We believe that recent developments in Bitcoin mining have created an opportunity for us to deploy capital and conduct large-scale mining operations in the United States. We have formed a new wholly owned subsidiary, US Digital Mining and Hosting Co, LLC, a Florida limited liability company (US Digital), to develop and operate our cryptocurrency mining business. We have committed to purchasing an aggregate of 5,046 Bitcoin S19J Pro Antminer cryptocurrency mining machines for an aggregate purchase price of $31.6 million (the “Mining Machines”). We received 2,521Mining Machines as of June 30, 2022. This contract allowed for a reduction in purchase price if Bitcoin price declined prior to shipment. As such we have been provided various credits over the Six Month ended June 30, 2022 as Bitcoin declined to approximately $19,000. to the equipment. Since the inception of our contract with Bitm a in, we have paid an aggregate of approximately $ 25.1 million to Bitmain and related vendors relating to the purchase of these machines through June 30, 2022, and expect to pay an additional $ 1.0 million under the Bitmain contract through the completion of the delivery of the machines as a result of variable pricing described above . In October 2021, we also entered into a sale and purchase agreement (the “Uptime Purchase Agreement”) with Uptime Armory LLC (“Uptime”) pursuant to which US Digital agreed to purchase, and Uptime agreed to supply to US Digital, an aggregate of 18 modified 40-foot cargo containers (“POD5ive containers”) that will be designed to hold and operate 280 S19 Pro Antminers manufactured by Bitmain. The purchase price of the POD5ive containers totals $3.15 million of which $2.4 million or 75% was paid in 2021 as a non-refundable down payment and the remaining 25% was due within five business days after Uptime delivers a “notice of completion” of the equipment. No containers have been delivered as of June 30, 2022. On the same effective date, US Digital also entered into a hosting agreement with Uptime Hosting LLC(the “Hosting Agreement”) to host the Company’s 18 POD5ive containers at a secure location and provide power, maintenance and other services specified in the contract for 6 cents per kilowatt with a term of one year. Under the Hosting Agreement we paid a deposit of $0.8 million in 2021 and were required to pay an additional deposit for each container three months prior to delivery at the hosting site of $44 thousand and a final deposit for each container one month prior to arrival at the hosting site of $44 thousand. On June 29, 2022, the Company entered into a mutual termination agreement pursuant to which the parties agreed to terminate the Hosting Agreement. The deposits paid for hosting services under the Hosting Agreement are refundable. On June 21, 2022, the “Company entered into a Master Agreement, dated effective as of June 20, 2022, with Compute North LLC (“Compute North”) under which Compute North has agreed to host up to 4,200 of LMFA’s S19J Pro Antminer Machines (S19J) (100 TH/s) (“Bitmain Miner Machines”) and provide colocation, management and other services (the “Master Agreement”). The term of the Master Agreement is for 60 months, subject to earlier termination in specified circumstances. The Company paid a non-refundable co-location deposit of $1,262,621 on June 21, 2022 under the Master Agreement. The hosting cost under the Master Agreement is expected to approximate $21,000 per day when all hosted machines become fully operational.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of LMFA and its wholly-owned subsidiaries: LM Funding, LLC; LMF October 2010 Fund, LLC; REO Management Holdings, LLC (including all 100% owned subsidiary limited liability companies); LM Funding of Colorado, LLC; LM Funding of Washington, LLC; LM Funding of Illinois, LLC; US Digital Mining Hosting Co., LLC; LMF SPE #2, LLC and various single purpose limited liability corporations owned by REO Management Holdings, LLC which own various properties. It also includes LMFA Sponsor LLC (a 69.5% owned subsidiary). All significant intercompany balances have been eliminated in consolidation.
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The interim condensed consolidated financial statements as of June 30, 2022 and for the Three and Six Months ended June 30, 2022 and June 30, 2021, respectively are unaudited. In the opinion of management, the interim condensed consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary to provide a fair statement of the results for the interim periods. The accompanying consolidated balance sheet as of December 31, 2021, is derived from the audited consolidated financial statements presented in the Company’s Annual Report on Form 10-K for fiscal the year ended December 31, 2021.
Reclassifications	Reclassifications Certain prior period amounts on the balance sheet have been reclassified to conform to the current period presentation.
Digital Assets	Digital Assets When applicable, we account for all digital assets other than stablecoin as indefinite-lived intangible assets in accordance with ASC 350, Intangibles—Goodwill and Other. We determine the fair value of our digital assets that are accounted for as intangible assets in accordance with ASC 820, Fair Value Measurement , based on quoted prices on the active exchange(s) that we have determined is the principal market for such assets (Level 1 inputs). We perform an analysis each quarter to identify whether events or changes in circumstances indicate that it is more likely than not that our digital assets are impaired. If the current carrying value of a digital asset exceeds the fair value so determined, an impairment loss has occurred with respect to those digital assets in the amount equal to the difference between their carrying values and the price determined. The impaired digital assets are written down to their fair value at the time of impairment and this new cost basis will not be adjusted upward for any subsequent increase in fair value. Gains are not recorded until realized upon sale, at which point they are presented separately from of any impairment losses. There is currently no specific guidance under GAAP or alternative accounting framework for the accounting for digital assets recognized as revenue or held, and management has exercised significant judgment in determining the appropriate accounting treatment. In the event authoritative guidance is enacted by the FASB, the Company may be required to change its policies, which could have an effect on the Company’s consolidated financial position and results from operations.
Fixed Assets, Net	Fixed Assets, Net The Company capitalizes all acquisitions of fixed assets in excess of $500. Fixed assets are stated at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets and commences once the assets are ready for their intended use. Fixed assets are comprised of furniture, computer, office equipment and mining machines with assigned useful lives of 3 to 5 years. The Company operates in an emerging industry for which limited data is available to make estimates of the useful economic lives of mining machines. To the extent that any of the assumptions underlying management’s estimate of useful life of its mining machines are subject to revision in a future reporting period, either as a result of changes in circumstances or through the availability of greater quantities of data, then the estimated useful life could change and have a prospective impact on depreciation expense and the carrying amounts of these assets.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to undiscounted future cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment amount is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. There was no impairment of long-lived assets for the Three and Six Months ended June 30, 2022 and 2021.
Investment in Securities	Investment in Securities Investment in Securities includes investments in common stocks, note receivables, and convertible notes receivables. Investments in securities are reported at fair value with changes in unrecognized gains or losses included in other income on the income statement. The fair value of the BORQ convertible note receivable is based on its classification as a trading security. The Symbiont note receivable is reported at amortized costs less impairment.
Fair Value of Financial Instruments	Fair Value of Financial Instruments FASB ASC 825-10, Financial Instruments, requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet.
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities We account for investments in less than 50% owned and more than 20% owned entities using the equity method of accounting. Because we have elected the fair value option for these securities, unrealized holding gains and losses during the period are included in earnings.
Income (Loss) Per Share	Income (Loss) Per Share Basic income (loss) per share is calculated as net income (loss) to common stockholders divided by the weighted average number of common shares outstanding during the period (as adjusted to give effect to the Reverse Stock Split). The Company issued approximately 74 thousand shares and 2.3 million shares at various times during the Six Months ended June 30, 2022 and June 30, 2021, respectively, and has weighted averaged these new shares in calculating income (loss) per share for the relevant period. Diluted income (loss) per share for the period equals basic loss per share as the effect of any convertible notes, stock based compensation awards or stock warrants would be anti-dilutive. The anti-dilutive stock based compensation awards consisted of: As of June 30, 2022 2021 Stock Options 3,956,827 3,860 Stock Warrants 7,677,441 391,900

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Summary of Anti-dilutive Stock Based Compensation Awards and Convertible Notes	The anti-dilutive stock based compensation awards consisted of: As of June 30, 2022 2021 Stock Options 3,956,827 3,860 Stock Warrants 7,677,441 391,900

Debt and Other Financing Arra_2

Debt and Other Financing Arrangements (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	June 30, 2022 December 31, 2021 Financing agreement with FlatIron capital that was unsecured. Down payment of $36,255 was required upfront and equal installment payments of $19,114 were made over a 10 month period. The note matured on May 1, 2022. Annualized interest was 3.95% $ - $ 114,688 $ - $ 114,688

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Components of Provision for Income Taxes	Significant components of the tax expense (benefit) recognized in the accompanying consolidated statements of operations for the Three and Six Months ended June 30, 2022 and June 30, 2021 are as follows: Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Current tax benefit Federal $ (1,001,827 ) $ 2,324,460 $ (1,363,542 ) $ 3,238,298 State (234,022 ) 480,942 (282,124 ) 670,019 Total current tax expense (benefit) (1,235,849 ) 2,805,402 (1,645,666 ) 3,908,317 Deferred tax expense 1,943,058 13,781 921,926 21,995 Change in tax rates (211,815 ) - (211,815 ) - Valuation allowance (expense) (495,394 ) (2,805,403 ) 935,555 (3,913,048 ) Income tax (reduction) benefit $ - $ 13,780 $ - $ 17,264
Schedule of Reconciliation of Tax Provision with Expected Provision	The reconciliation of the income tax computed at the combined federal and state statutory rate of 24.6% and 25.4% for the Three and Six Months ended June 30, 2022 and 25.4% for the Three and Six Months ended June 30, 2021 to the income tax benefit is as follows: Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Benefit on net loss $ 700,573 24.6% $ 2,818,684 25.4% $ (731,566 ) 25.4% $ 3,928,774 25.4% Nondeductible expenses 6,636 0.2% 499 0.0% 7,826 -0.3% 1,538 0.0% Valuation allowance (expense) (495,394 ) (17.4)% (2,805,403 ) (25.3)% 935,555 (32.4)% (3,913,048 ) (25.3)% Tax rate change (211,815 ) (7.4)% - (—)% (211,815 ) 7.3% - (—)% Tax benefit/effective rate $ - (—)% $ 13,780 0.1% $ - (—)% $ 17,264 0.1%
Components of Deferred Tax Assets and Liabilities	The significant components of the Company’s deferred tax liabilities and assets as of June 30, 2022 and December 31, 2021 are as follows: As of June 30, 2022 As of December 31, 2021 Deferred tax liabilities: Right to Use asset $ (79,489 ) $ - Deferred vendor stock compensation (111,349 ) (261,323 ) Total deferred tax liabilities (190,838 ) (261,323 ) Deferred tax assets: Loss carryforwards 3,884,170 2,101,401 Step up in basis at contribution to C-Corp 465,781 461,078 Stock option expense 2,395,939 669,959 Step up in basis - purchase of non-controlling interest 42,981 42,529 Allowance for credit losses 17,618 16,539 Right to Use assets 80,178 - Digital asset impairment loss 95,730 - Unrealized loss on securities (2,609,537 ) 216,284 Total deferred tax asset 4,372,860 3,507,790 Valuation allowance (4,182,022 ) (3,246,467 ) Net deferred tax asset (liability) $ - $ -

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Summary of Supplemental Balance Sheet Information Related to Operating Leases	The following table presents supplemental balance sheet information related to operating leases as of June 30, 2022 and December 31, 2021 : Balance Sheet Line Item June 30, 2022 December 31, 2021 Assets ROU assets Right of use asset, net $ 313,629 $ 59,969 Total lease assets $ 313,629 $ 59,969 Liabilities Current lease liabilities Lease liability $ 90,030 $ 68,002 Long-term lease liabilities Lease liability 226,319 - Total lease liabilities $ 316,349 $ 68,002 Weighted-average remaining lease term (in years) 3.13 0.60 Weighted-average discount rate 7.49 % 6.55 %
Summary of Supplemental Cash Flow Information and Non-cash Activity Related to Operating Leases	The following table presents supplemental cash flow information and non-cash activity related to operating leases for the Six Months ended June 30, 2022 and 2021: Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Operating cash flow information Cash paid for amounts included in the measurement of lease liabilities $ (52,440 ) $ (50,353 ) Non-cashflow information ROU assets and operating lease obligation recognized $ 300,787 $ -
Schedule of Future Minimum Lease Payment Due	The following table presents maturities of operating lease liabilities on an undiscounted basis as of June 30, 2022: Operating Leases 2022 (excluding the six months ended June 30, 2022) $ 57,263 2023 108,039 2024 113,794 2025 77,733 (less: imputed interest) (40,480 ) $ 316,349

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Summary of Stock Warrants	Warrants The following is a summary of the warrant activity during the Six Months ended June 30, 2022 and 2021: 2022 2021 Number of Weighted Average Number of Weighted Average Warrants Exercise Price Warrants Exercise Price Warrants outstanding at beginning of the year 7,702,441 $ 5.00 2,718,012 $ 4.20 Granted - - - - Exercised - - (2,326,112) 4.08 Terminated (25,000) 4.50 - - Warrants outstanding and exercisable at June 30, 7,677,441 $ 5.00 391,900 $ 4.35

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2022
Summary of Marketable Equity Securities	Marketable equity securities as of June 30, 2022 and December 31, 2021 are as follows: Cost Cost of Shares Sold Gross Unrealized Gain (Loss) Fair Value Marketable equity securities, June 30, 2022 $ 2,976,933 $ (2,915,813 ) $ (23,900 ) $ 37,220 Marketable equity securities, December 31, 2021 4,766,349 $ (1,246,708 ) (1,387,590 ) 2,132,051
Schedule of Long-term Investment	Long-term investments as of consist of the following: June 30, 2022 December 31, 2021 June 30, 2021 LMF Acquisition Opportunities Inc. warrants $ 516,420 $ 1,973,413 $ 2,295,200 End of period $ 516,420 $ 1,973,413 $ 2,295,200 June 30, 2022 June 30, 2021 Beginning of year $ 1,973,413 $ - Investments in affiliate - 5,738,000 Unrealized loss on investment in affiliate (1,456,993 ) (3,442,800 ) End of period $ 516,420 $ 2,295,200
Summary of Investment in Unconsolidated Affiliates	June 30, 2022 December 31, 2021 June 30, 2021 LMF Acquisition Opportunities Inc. common stock $ 17,362,125 $ 4,676,130 $ 4,615,583 End of period $ 17,362,125 $ 4,676,130 $ 4,615,583 June 30, 2022 June 30, 2021 Beginning of year $ 4,676,130 $ 25,000 Unrealized gain on investment in affiliate 12,685,995 4,590,583 End of period $ 17,362,125 $ 4,615,583
Symbiont IO [Member]
Schedule of Short-term Investment	June 30, 2022 December 31, 2021 June 30, 2021 Symbiont.IO Note Receivable $ 2,185,863 $ 2,027,178 $ - End of period $ 2,185,863 $ 2,027,178 $ - June 30, 2022 June 30, 2021 Beginning of year $ 2,027,178 $ - Accrued interest income on debt security 158,685 - Unrealized loss - - End of period $ 2,185,863 $ -
Convertible Debt Securities [Member]
Schedule of Short-term Investment	June 30, 2022 December 31, 2021 June 30, 2021 Convertible note $ - $ 539,351 $ 7,588,538 End of period $ - $ 539,351 $ 7,588,538 June 30, 2022 June 30, 2021 Beginning of year $ 539,351 $ - Investment in convertible debt security - 5,000,000 Accrued interest income on debt security 17,753 86,938 Unrealized gain on convertible debt security - 2,501,600 Convertible debt and interest converted into marketable shares (844,882 ) Realized gain on conversion into marketable shares 287,778 End of period $ - $ 7,588,538

Fixed Assets, net (Tables)

Fixed Assets, net (Tables)	6 Months Ended
	Jun. 30, 2022
Property Plant And Equipment [Abstract]
Components of Fixed Assets	The components of fixed assets as of June 30, 2022 and December 31, 2021 are as follows: Useful Life (Years) June 30, 2022 December 31, 2021 Mining machines 5 $ 15,058,872 - Furniture, computer and office equipment 3-5 213,022 199,786 Gross fixed assets 15,271,894 199,786 Less: accumulated depreciation (186,973 ) (181,872 ) Fixed assets, net $ 15,084,921 $ 17,914

Digital Assets (Tables)

Digital Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Digital Assets [Abstract]
Schedule of Digital Assets	Digital assets consist of the following: June 30, 2022 December 31, 2021 June 30, 2021 Bitcoin $ 408,879 $ - $ - End of period $ 408,879 $ - $ - June 30, 2022 June 30, 2021 Beginning of Year $ - $ - Purchase of digital assets 1,286,586 - GUSD Earned on digital assets 5,658 - Sale of digital assets (505,658 ) Impairment loss (377,707 ) - End of Period $ 408,879 $ -

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional information (Detail)						3 Months Ended		6 Months Ended
	Jun. 21, 2022 USD ($) Machine	Oct. 31, 2021 USD ($) BitcoinMachine Container	Oct. 06, 2021 USD ($) BitcoinMachine	Sep. 15, 2021 USD ($) BitcoinMachine	Sep. 08, 2021 USD ($) BitcoinMachine	Jun. 30, 2022 USD ($) Subsidiary shares	Jun. 30, 2021 USD ($) shares	Jun. 30, 2022 USD ($) Ownership Subsidiary BitcoinMachine $ / Assessment shares	Jun. 30, 2021 USD ($) shares	Dec. 31, 2021 USD ($) shares
Summary Of Significant Accounting Policies [Line Items]
Number of subsidiaries created | Subsidiary						2		2
Payments to deposits for mining equipment								$ 11,200,000
Payments to transportation and customs costs for equipment								285,000
Payments to bitmain and related vendors to purchase of machines								25,100,000
Additional payments under bitmain contract through completion of delivery of machines.								1,000,000
Payments of non refundable co-location deposit	$ 1,262,621
Hosting agreement cost	$ 21,000
Fixed assets						$ 15,084,921		15,084,921		$ 17,914
Impairment of long-lived assets						$ 0	$ 0	$ 0	$ 0
Common stock, shares issued | shares						13,091,883		13,091,883		13,017,943
Common Share Consolidation Reverse Stock Split [Member]
Summary Of Significant Accounting Policies [Line Items]
Common stock, shares issued | shares						74,000	2,300,000	74,000	2,300,000
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Furniture, computer, office equipment and mining machines, useful lives								5 years
Ownership percentage						50%		50%
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Furniture, computer, office equipment and mining machines, useful lives								3 years
Ownership percentage						20%		20%
In Excess of $500 [Member]
Summary Of Significant Accounting Policies [Line Items]
Fixed assets						$ 500		$ 500
Purchase Agreement [Member]
Summary Of Significant Accounting Policies [Line Items]
Cryptocurrency mining machines | BitcoinMachine			4,044	5,046	1,002
Number of cryptocurrency mining machine received | BitcoinMachine								2,521
Mining machines delivery timeframe description								We anticipate that receiving the remaining Mining Machines to be delivered in batches over an estimated delivery timeframe from July and continuing through October 2022.
Payments to deposits for mining equipment								$ 11,200,000
Payments to transportation and customs costs for equipment								285,000
Payments to bitmain and related vendors to purchase of machines								25,100,000
Additional payments under bitmain contract through completion of delivery of machines.				$ 1,000,000
Purchase Agreement [Member] | Mining Machine [Member]
Summary Of Significant Accounting Policies [Line Items]
Aggregate purchase price of asset			$ 25,300,000	31,600,000	$ 6,300,000
Mining machines delivery timeframe description			The Purchase Agreement provides for delivery of the Mining Machines in batches over an estimated delivery timeframe starting in April 2022 and continuing through September 2022
Bitcoin declined amount								$ 19,000
Payment for deposit			$ 7,900,000	$ 7,900,000
Percentage of total purchase price to shipment, nonrefundable			25%	25%
Percentage of batch price			35%	35%
Percentage of remaining purchase price to shipment			40%	40%
Number of manufacturing specialty containers | BitcoinMachine			18
Uptime Purchase Agreement [Member] | Pod5ive Containers [Member]
Summary Of Significant Accounting Policies [Line Items]
Pod5ive cargo containers | Container		18
Aggregate purchase price of asset		$ 3,150,000
Payment require to payable to acquire assets		$ 2,400,000
Percentage of first payment require payable to acquire assets		75%
Percentage of second payment require payable to acquire assets		25%
Hosting Agreement [Member]
Summary Of Significant Accounting Policies [Line Items]
Payment for deposit		$ 800,000
Contract description								US Digital also entered into a hosting agreement with Uptime Hosting LLC(the “Hosting Agreement”) to host the Company’s 18 POD5ive containers at a secure location and provide power, maintenance and other services specified in the contract for 6 cents per kilowatt with a term of one year.
Number of manufacturing specialty containers | BitcoinMachine		18
Additional deposit for each container three months prior to delivery at the hosting site		$ 44,000	$ 44,000
Final deposit for each container one month prior to arrival at the hosting site		$ 44,000	$ 44,000
Hosting Agreement [Member] | Mining Machine [Member]
Summary Of Significant Accounting Policies [Line Items]
Contract description			The Company also entered into a hosting agreement with Uptime Hosting LLC (the “Hosting Agreement”) to house and service LMFA’s mining machines for $0.06 per kilowatt and the Company paid $0.8 million in 2021 as a deposit for the hosting services and an additional deposit for each container three months prior to delivery at the hosting site of $44 thousand and a final deposit for each container one month prior to arrival at the hosting site of $44 thousand. On June 29, 2022 the Company entered into a mutual termination agreement pursuant to which the parties agreed to terminate the Hosting Agreement. The $788 thousand deposit paid for hosting services under the Hosting Agreement is refundable and is included within Prepaid expenses and other assets on the consolidated balance sheet as of June 30, 2022.
Number of hosting agreement contract machine | Machine	4,200
Fixed assets			$ 15,100,000							$ 0
Hosting Agreement [Member] | Pod5ive Containers [Member]
Summary Of Significant Accounting Policies [Line Items]
Term of contract		1 year
Subsidiaries [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of members | Ownership								2
Minimum percentage of original principal amount on mortgage								1%
Maximum statutory delinquent assessments rate								18%
Maximum administrative late fees | $ / Assessment								25
Percentage of maximum administrative late fees on delinquent assessment								5%
REO Management Holdings, LLC [Member] | Maximum [Member] | Subsidiary Limited Liability [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership in subsidiary limited liability companies								100%
LMFA Sponsor LLC [Member] | Subsidiary Limited Liability [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership in subsidiary limited liability companies								69.50%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Anti-dilutive Stock Based Compensation Awards and Convertible Notes (Detail) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Stock Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive stock based compensation awards	3,956,827	3,860
Stock Warrants [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive stock based compensation awards	7,677,441	391,900

Due to Related Party - Addition

Due to Related Party - Additional Information (Detail)				3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 01, 2022 USD ($)	Jan. 02, 2017 USD ($) $ / Unit	Apr. 15, 2015 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2017 USD ($)
Related Party Transaction [Line Items]
Due to related party (Note 2)				$ 371,179		$ 371,179		$ 121,220
Subsidiaries [Member]
Related Party Transaction [Line Items]
Recoveries incurred				22,000	$ 26,000	46,000	$ 46,000
Business Law Group Association Law [Member]
Related Party Transaction [Line Items]
Ownership percentage	50%
Business Law Group [Member]
Related Party Transaction [Line Items]
Monthly payment for cases		$ 82,000
Minimum fee paid per unit | $ / Unit		700
Service amount paid				159,000	246,000	347,000	492,000
Due to related party (Note 2)				565,000		565,000		677,000
Office sub lease income				15,000	17,000	30,000	34,000
Repayment received from related party										$ 252,771
Reserve balance due to related parties										$ 1,400,000
Amount written-off regained						0		200,000	$ 500,000
Receivable from related party				371,200		371,200		$ 121,200
Business Law Group [Member] | Out of Pocket Collection Costs [Member]
Related Party Transaction [Line Items]
Expenses incurred by company				$ 14,000	$ 28,000	$ 34,000	$ 50,000
Business Law Group Association Law [Member]
Related Party Transaction [Line Items]
Reduction In Compensation Payable	$ 53,000		$ 82,000
Termination fee	$ 150,000

Debt and Other Financing Arra_3

Debt and Other Financing Arrangements - Schedule of Debt (Detail)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Notes payable	$ 114,688
Financing Agreement with FlatIron Capital Maturing in May 1,2022 [Member]
Debt Instrument [Line Items]
Notes payable	$ 114,688

Debt and Other Financing Arra_4

Debt and Other Financing Arrangements - Schedule of Debt (Parenthetical) (Detail) - Financing Agreement with FlatIron Capital Maturing in May 1,2022 [Member]	6 Months Ended
	Jun. 30, 2022 USD ($)
Debt Instrument [Line Items]
Repayments of Notes Payable	$ 36,255
Debt Instrument, Maturity Date	May 01, 2022
Debt Instrument, Interest Rate, Stated Percentage	3.95%
Debt Instrument, Periodic Payment	$ 19,114
Debt Instrument Due Period	10 months

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Valuation allowance	$ 4,182,000		$ 4,182,000		$ 3,246,000
Combined federal and state statutory rate	24.60%	25.40%	25.40%	25.40%
Tax Expense			$ 1,600,000	$ (3,900,000)
Valuation Allowance			900,000	$ 3,900,000
Deferred tax asset offset			900,000
Deferred tax asset tax change	$ 211,815		$ 211,815

Income Taxes - Components of Pr

Income Taxes - Components of Provision for Income Taxes (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Current tax benefit
Federal	$ (1,001,827)	$ 2,324,460	$ (1,363,542)	$ 3,238,298
State	(234,022)	480,942	(282,124)	670,019
Total current tax expense (benefit)	(1,235,849)	2,805,402	(1,645,666)	3,908,317
Deferred tax expense	1,943,058	13,781	921,926	21,995
Change in tax rates	(211,815)		(211,815)
Valuation allowance (expense)	$ (495,394)	(2,805,403)	$ 935,555	(3,913,048)
Income tax (reduction) benefit		$ 13,780		$ 17,264

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Tax Provision with Expected Provision (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Benefit on net loss	$ 700,573	$ 2,818,684	$ (731,566)	$ 3,928,774
Nondeductible expenses	6,636	499	7,826	1,538
Valuation allowance (expense)	(495,394)	(2,805,403)	935,555	(3,913,048)
Change in tax rates	$ (211,815)		$ (211,815)
Tax benefit/effective rate		$ 13,780		$ 17,264
Benefit on net loss	24.60%	25.40%	25.40%	25.40%
Nondeductible expenses, percentage	0.20%	0%	(0.30%)	0%
Valuation allowance (expense), percentage	(17.40%)	(25.30%)	(32.40%)	(25.30%)
Tax rate change	(7.40%)		7.30%
Tax benefit/effective rate		0.10%		0.10%

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Deferred tax liabilities:
Right to Use asset	$ (79,489)
Deferred vendor stock compensation	(111,349)	$ (261,323)
Total deferred tax liabilities	(190,838)	(261,323)
Deferred tax assets:
Loss carryforwards	3,884,170	2,101,401
Stock option expense	2,395,939	669,959
Step up in basis - purchase of non-controlling interest	42,981	42,529
Allowance for credit losses	17,618	16,539
Right to Use assets	80,178
Digital asset impairment loss	95,730
Unrealized loss on securities	(2,609,537)	216,284
Total deferred tax asset	4,372,860	3,507,790
Valuation allowance	(4,182,022)	(3,246,467)
C Corporation [Member]
Deferred tax assets:
Step up in basis at contribution	$ 465,781	$ 461,078

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Loss Contingencies [Line Items]
Adjustments to right of use of assets and lease liabilities				$ 300,787
Operating lease discount rate	7.50%			7.50%
Rent expense	$ 28,600		$ 22,600	$ 52,000	$ 47,500
Attorney fees and other related legal cost				275,000
Business Law Group [Member]
Loss Contingencies [Line Items]
Sublease Income				$ 4,900
New Office Lease [Member]
Loss Contingencies [Line Items]
Operating lease beginning date				Jul. 15, 2019
Operating lease expire date				Jul. 31, 2022
Operating lease extended end date		Jul. 31, 2025
Minimum [Member]
Loss Contingencies [Line Items]
Operating lease remaining lease term				1 year
Maximum [Member]
Loss Contingencies [Line Items]
Operating lease remaining lease term				3 years

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Supplemental Balance Sheet Information Related to Operating Leases (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Assets And Liabilities Lessee [Abstract]
ROU assets	$ 313,629	$ 59,969
Current lease liabilities	90,030	68,002
Long-term lease liabilities	226,319
Total lease liabilities	$ 316,349	$ 68,002
Weighted-average remaining lease term (in years)	3 years 1 month 17 days	7 months 6 days
Weighted-average discount rate	7.49%	6.55%

Commitments and Contingencies_3

Commitments and Contingencies - Summary of Supplemental Cash Flow Information and Non-cash Activity Related to Operating Leases (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating cash flow information
Lease liability payments	$ (52,440)	$ (50,353)
ROU assets and operating lease obligation recognized	$ 300,787

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Future Minimum Lease Payment Due (Detail)	Jun. 30, 2022 USD ($)
Commitments And Contingencies Disclosure [Abstract]
2022 (excluding the six months ended June 30, 2022)	$ 57,263
2023	108,039
2024	113,794
2025	77,733
(less: imputed interest)	(40,480)
Total future minimum lease payments due	$ 316,349

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Stock Option Plan Activity (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Number of Options
Number of Options, Outstanding at Beginning of the year	3,956,827	3,860
Number of Options, Granted
Number of Options, Exercised
Number of Options, Adjustment
Number of Options, Forfeited
Number of Options, Outstanding at End of Year	3,956,827	3,860
Number of Options, Exercisable at End of Year	37,794	3,860
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding at Beginning Balance	$ 6.22	$ 302.55
Weighted Average Exercise Price, Granted
Weighted Average Exercise Price, Exercised
Weighted Average Exercise Price, Adjustment
Weighted Average Exercise Price, Forfeited
Weighted Average Exercise Price, Outstanding at Ending Balance	6.22	302.55
Weighted Average Exercise Price, Exercisable	$ 34.60	$ 302.55

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)			3 Months Ended		6 Months Ended		12 Months Ended
	Nov. 04, 2021	Jan. 29, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Class Of Stock [Line Items]
Recognized stock compensation expense of stock options			$ 3,300,000	$ 0	$ 6,600,000	$ 0
Remaining unrecognized compensation cost			10,200,000		10,200,000
Aggregate intrinsic value of outstanding common stock options			0		0		$ 0
Stock compensation					658,999
Total fair value of the stock at the time of issuance			13,092		$ 13,092		13,018
Number of warrants, expired					25,000
Proceeds from warrants exercised						$ 9,544,623
Number of warrants, exercised						2,326,112
Stock Warrants [Member]
Class Of Stock [Line Items]
Number of warrants, expired					25,000
Proceeds from warrants exercised						$ 9,500,000
Number of warrants, exercised						2,300,000
Number of cashless warrant exercise		129,800
Warrants, aggregate intrinsic value outstanding			0		$ 0		$ 177,000
Management | Management Employment Contract
Class Of Stock [Line Items]
Stock issued for services, shares							73,940
Stock compensation							$ 229,500
Common stock, shares issued							73,940
Two Vendors [Member] | Consulting in Blockchain and Crypto Currency Field [Member]
Class Of Stock [Line Items]
Stock issued for services, shares	200,000
Stock compensation			329,500		659,000
Common stock, shares issued	200,000
Total fair value of the stock at the time of issuance			$ 1,318,000		$ 1,318,000
Stock issued, agreement description					The Company issued 200,000 shares on November 4, 2021 pursuant to an agreement that is for one year with two vendors who provide consulting in the blockchain and crypto currency field.

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Stock Warrants (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Equity [Abstract]
Number of Warrants, beginning balance	7,702,441	2,718,012
Number of warrants, granted
Number of warrants, exercised		(2,326,112)
Number of warrants, terminated	(25,000)
Number of Warrants, ending balance	7,677,441	391,900
Weighted Average Exercise Price, Outstanding at beginning balance	$ 5	$ 4.20
Weighted Average Exercise Price, granted
Weighted Average Exercise Price, exercised		4.08
Weighted Average Exercise Price, terminated	4.50
Weighted Average Exercise Price, Outstanding ending balance	$ 5	$ 4.35

Investments - Additional Inform

Investments - Additional Information (Details) - USD ($)		1 Months Ended	3 Months Ended				6 Months Ended		12 Months Ended
	Jan. 28, 2021	Jun. 30, 2021	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Jul. 29, 2022	Jul. 28, 2022	Feb. 01, 2022	Dec. 01, 2021
Stock issued for warrants exercised, shares		5,956,544
Debt instrument amount funded for transaction							$ 1,666,667
Part of transaction purchased, amount							3,333,333
Stock issued for warrants exercised		$ 8,500,000				$ 9,544,623
Short-term investments - debt security (Note 7)			$ 2,185,863				2,185,863		$ 2,000,000
Unrealized gain (loss) on convertible debt security			(288,320)		$ 2,501,600			$ 2,501,600
Realized gain on convertible debt securities			$ 287,778				$ 287,778
Common stock, par value			$ 0.001				$ 0.001		$ 0.001
Realized gain (loss) on securities			$ 45,261		8,453,570		$ (349,920)	14,125,034
Gain recognized on loan transaction								5,700,000
Amount of loans receivables acquired								18,200,000
Cost associated with acquisition of receivables loan								15,500,000
Proceeds from sale of own shares								32,600,000
Provision for investor								11,300,000
Note payable - short-term (Note 3)									$ 114,688
Exercise of warrants								9,544,623
Common stock, shares issued			13,091,883				13,091,883		13,017,943
Class B Shares And Warrants [Member]
Unrealized gain (loss) on convertible debt security			$ 12,200,000		500,000
Stock Warrants [Member]
Unrealized gain (loss) on convertible debt security							$ 11,200,000	1,100,000
Stock Warrants [Member]
Exercise of warrants								9,500,000
IPO [Member]
Percentage of sponsors initial risk	69.50%
Proceeds from issuance initial public offering	$ 103,500,000
Gain or loss on equity investment in unconsolidated subsidiary							12,700,000	4,600,000
IPO [Member] | Stock Warrants [Member]
Private warrants hold by sponsors	5,738,000
Private Placement Warrants [Member] | LMF Acquisition Opportunities Inc [Member] | Stock Warrants [Member]
Warrant Exercise Price	$ 1
Proceeds from issuance of private placement	$ 5,738,000
LMFA Sponsor LLC [Member]
Unrealized gain (loss) on convertible debt security			$ (433,000)		506,000		$ (1,457,000)	(3,443,000)
Purchased aggregate of private placement warrants							5,738,000
Investment warrants exercise price							$ 1
Class A Common Stock [Member] | IPO [Member] | LMF Acquisition Opportunities Inc [Member]
Common stock, par value	$ 10
Common stock, shares issued	10,350,000
Gross proceeds from common stock issuance	$ 103,500,000
Class A Common Stock [Member] | LMFA Sponsor LLC [Member]
Investment warrants exercise price							$ 11.50
Class A And Class B Common Shares [Member] | IPO [Member]
Percentage of common stock hold by sponsors	20%
BORQS Technologies [Member]
Marketable securities shares sold			3,863,200				8,759,094
Proceeds from sale marketable securities			$ 890,000				$ 2,318,000
Realized net gain (loss) on marketable securities			$ 45,000				$ (350,000)
Symbiont IO [Member]
Stock issued for warrants exercised, shares									700,000
Common stock, par value									$ 3.0642
Investment expiry date									Dec. 01, 2026
Exercise of warrants									$ 2,000,000
Symbiont IO [Member] | ROFR Agreement {Member]
Debt Instrument, Interest Rate, Stated Percentage			16%				16%
Accrued interest income			$ 185,863				$ 185,863		27,178
Common stock, par value			$ 3.0642				$ 3.0642
Investment maturity date			Dec. 01, 2021				Dec. 01, 2021
Investment expiry date							Dec. 01, 2022
LMF Acquisition Opportunities Inc [Member] | Class B Shares And Warrants [Member]
Common stock, par value			$ 0.0001				$ 0.0001
Investments in affiliates shares			5,738,000				5,738,000
Warrant Exercise Price			$ 11.50				$ 11.50
Percentage of ownership in subsidiary							70%
Value of shares under acquisition			$ 25,000				$ 25,000
Maximum [Member] | Symbiont IO [Member] | ROFR Agreement {Member]
Note payable - short-term (Note 3)													$ 3,000,000
Subsequent Event [Member] | Class A Common Stock [Member] | LMF Acquisition Opportunities Inc [Member]
Common stock, par value										$ 0.10
Convertible Debt Securities [Member]
Convertible note							844,882
Accrued interest income		$ 86,938	17,753		$ 86,938		17,753	$ 86,938
Realized gain on convertible debt securities							287,778
Short-term Investments [Member]
Sale of stock, price per share		$ 1.45			$ 1.45			$ 1.45
Short-term investments - debt security (Note 7)		$ 7,588,538			$ 7,588,538			$ 7,588,538
Unrealized gain (loss) on convertible debt security					$ 2,501,600			$ 2,501,600
Short-term Investments [Member] | Convertible Debt Securities [Member]
Convertible note									4,100,000
Accrued interest income									$ 131,760
Converted common stock									3,863,200
Marketable securities shares sold				4,895,894					1,064,935
Realized gain on convertible debt securities							(395,000)
Remaining Convertible debt with Accrued Interest income									$ 965,096
Common stock, par value									$ 0.25
Realized gain (loss) on securities			45,000				45,000
Short-term Investments [Member] | Convertible Debt Securities [Member] | Borqs Convertible Note Plus Accrued Interest
Converted common stock									5,960,829
Short-term Investments [Member] | Convertible Debt Securities [Member] | Remaining Borqs Convertible Note Plus Accrued Interest
Converted common stock									3,863,200
Realized gain on convertible debt securities			287,778				287,778
LMF Acquisition Opportunities Inc [Member]
Debt instrument principal amount			5,000,000				5,000,000
Senior notes			$ 20,000,000				$ 20,000,000
Debt instrument maturity month and year							2023-02
Debt Instrument, Interest Rate, Stated Percentage			8%				8%
Debt instrument discount rate percentage							10%
Debt instrument warrant coverage rate							90%
Debt instrument convertible conversion price rate							110%
Stock issued for warrants exercised, shares							2,922,078
Unsecured Promissory Note [Member]
Debt instrument principal amount												$ 500,000
Drawn amount							$ 910,000
Unsecured Promissory Note [Member] | Subsequent Event [Member]
Debt instrument principal amount											$ 1,750,000

Investments - Schedule of Short

Investments - Schedule of Short Term Investment in Convertible Debt Securities (Details) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Beginning of year		$ 4,676,130
Unrealized gain on convertible debt security		11,229,002	$ 1,147,886
Realized gain on convertible debt securities	$ 287,778	287,778
End of period	17,362,125	17,362,125		$ 4,676,130
Convertible Debt Securities [Member]
Convertible note			7,588,538	539,351
Beginning of year		539,351
Investment in convertible debt security			5,000,000
Accrued interest income on debt security	$ 17,753	17,753	86,938
Unrealized gain on convertible debt security			2,501,600
Convertible debt and interest converted into marketable shares		(844,882)
Realized gain on convertible debt securities		$ 287,778
End of period			$ 7,588,538	$ 539,351

Investments - Schedule of Sho_2

Investments - Schedule of Short Term Investments Held to Maturity in Debt Securities (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Unrealized gain on convertible debt security	$ 11,229,002	$ 1,147,886
Short-term Investments [Member] | Symbiont IO [Member]
Symbiont.IO Note Receivable	2,185,863		$ 2,027,178
Beginning of year	2,027,178
Accrued interest income on debt security	158,685
End of period	$ 2,185,863		$ 2,027,178

Investments - Summary of Market

Investments - Summary of Marketable Equity Securities (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Investments [Abstract]
Marketable equity securities, Cost	$ 2,976,933	$ 4,766,349
Marketable equity securities, Cost of Shares Sold	(2,915,813)	(1,246,708)
Marketable equity securities, Gross Unrealized Gain (Loss)	(23,900)	(1,387,590)
Marketable equity securities, Fair Value	$ 37,220	$ 2,132,051

Investments - Schedule of Long

Investments - Schedule of Long Term Investment (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Beginning of year			$ 4,676,130
Unrealized loss on investment in affiliate	$ (288,320)	$ 2,501,600		$ 2,501,600
End of period	17,362,125		17,362,125		$ 4,676,130
Long Term Investments
LMF Acquisition Opportunities Inc. warrants			516,420	2,295,200	1,973,413
Beginning of year			1,973,413
Investments in affiliate		5,738,000		5,738,000
Unrealized loss on investment in affiliate			(1,456,993)	(3,442,800)
End of period	$ 516,420	$ 2,295,200	$ 516,420	$ 2,295,200	$ 1,973,413

Investments - Summary of Invest

Investments - Summary of Investment in Unconsolidated Affiliates (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Beginning of year			$ 4,676,130
Unrealized gain (loss) on convertible debt security	$ (288,320)	$ 2,501,600		$ 2,501,600
End of period	17,362,125		17,362,125		$ 4,676,130
LMF Acquisition Opportunities Inc [Member]
LMF Acquisition Opportunities Inc. common stock			17,362,125	4,615,583	4,676,130
Beginning of year			4,676,130	25,000	25,000
Unrealized gain (loss) on convertible debt security			12,685,995	4,590,583
End of period	$ 17,362,125	$ 4,615,583	$ 17,362,125	$ 4,615,583	$ 4,676,130

Deposits on Mining Equipment _2

Deposits on Mining Equipment and Hosting - Additional information (Detail)						6 Months Ended
	Jun. 21, 2022 USD ($) Machine	Oct. 31, 2021 USD ($) BitcoinMachine	Oct. 06, 2021 USD ($) kWh BitcoinMachine	Sep. 15, 2021 USD ($) BitcoinMachine	Sep. 08, 2021 USD ($) BitcoinMachine	Jun. 30, 2022 USD ($) Machine	Dec. 31, 2021 USD ($)
Deposit [Line Items]
Payments to deposits for mining equipment						$ 11,200,000
Payments to transportation and customs costs for equipment						285,000
Payments to bitmain and related vendors to purchase of machines						25,100,000
Additional payments under bitmain contract through completion of delivery of machines.						1,000,000
Payments of non-refundable co-location deposit	$ 1,262,621
Hosting agreement cost	$ 21,000
Fixed assets, net						$ 15,084,921	$ 17,914
Mining Machine [Member]
Deposit [Line Items]
Number of machines received | Machine						2,521
Purchase Agreement [Member]
Deposit [Line Items]
Cryptocurrency mining machines | BitcoinMachine			4,044	5,046	1,002
Mining machines delivery timeframe description						We anticipate that receiving the remaining Mining Machines to be delivered in batches over an estimated delivery timeframe from July and continuing through October 2022.
Payments to deposits for mining equipment						$ 11,200,000
Payments to transportation and customs costs for equipment						285,000
Payments to bitmain and related vendors to purchase of machines						25,100,000
Additional payments under bitmain contract through completion of delivery of machines.				$ 1,000,000
Purchase Agreement [Member] | Mining Machine [Member]
Deposit [Line Items]
Aggregate purchase price of asset			$ 25,300,000	31,600,000	$ 6,300,000
Mining machines delivery timeframe description			The Purchase Agreement provides for delivery of the Mining Machines in batches over an estimated delivery timeframe starting in April 2022 and continuing through September 2022
Reduction in purchase price						$ 19,000
Payment for deposit			$ 7,900,000	$ 7,900,000
Percentage of total purchase price to shipment, nonrefundable			25%	25%
Percentage of batch price			35%	35%
Percentage of remaining purchase price to shipment			40%	40%
Percentage of deposit			25%
Payment for batch price			$ 5,700,000
Number of machines received | Machine						2,521
Container project amount			$ 3,100,000
Manufacture containers agreement description			In 2021, the Company entered into an agreement with Miami based Bit5ive subsidiary Uptime Armory LLC to manufacture 18 Pod5ive specialty containers for approximately $3.1 million and paid $2.4 million as a non-refundable deposit for the containers.
Number of manufacturing specialty containers | BitcoinMachine			18
Purchase Agreement [Member] | Pod5ive Containers [Member]
Deposit [Line Items]
Payment of non-refundable deposit			$ 2,400,000
Hosting Agreement [Member]
Deposit [Line Items]
Payment for deposit		$ 800,000
Number of manufacturing specialty containers | BitcoinMachine		18
Additional deposit for each container three months prior to delivery at the hosting site		$ 44,000	44,000
Final deposit for each container one month prior to arrival at the hosting site		$ 44,000	$ 44,000
Contract description						US Digital also entered into a hosting agreement with Uptime Hosting LLC(the “Hosting Agreement”) to host the Company’s 18 POD5ive containers at a secure location and provide power, maintenance and other services specified in the contract for 6 cents per kilowatt with a term of one year.
Hosting Agreement [Member] | Mining Machine [Member]
Deposit [Line Items]
Cost of mining machine per unit | kWh			0.06
Contract description			The Company also entered into a hosting agreement with Uptime Hosting LLC (the “Hosting Agreement”) to house and service LMFA’s mining machines for $0.06 per kilowatt and the Company paid $0.8 million in 2021 as a deposit for the hosting services and an additional deposit for each container three months prior to delivery at the hosting site of $44 thousand and a final deposit for each container one month prior to arrival at the hosting site of $44 thousand. On June 29, 2022 the Company entered into a mutual termination agreement pursuant to which the parties agreed to terminate the Hosting Agreement. The $788 thousand deposit paid for hosting services under the Hosting Agreement is refundable and is included within Prepaid expenses and other assets on the consolidated balance sheet as of June 30, 2022.
Number of hosting agreement contract machine | Machine	4,200
Deposit on mining equipment						$ 14,500,000	16,800,000
Fixed assets, net			$ 15,100,000				$ 0
Hosting Agreement [Member] | Mining Machine [Member] | Hosting Services
Deposit [Line Items]
Payment for deposit			800,000
Payment of refundable deposit			$ 788,000

Fixed Assets, net - Components

Fixed Assets, net - Components of Fixed Assets (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Gross fixed assets	$ 15,271,894	$ 199,786
Less: accumulated depreciation	(186,973)	(181,872)
Fixed assets, net	15,084,921	17,914
Mining Machine [Member]
Property Plant And Equipment [Line Items]
Gross fixed assets	$ 15,058,872
Useful Life (Years)	5 years
Furniture, Computer and Office Equipment [Member]
Property Plant And Equipment [Line Items]
Gross fixed assets	$ 213,022	$ 199,786
Furniture, Computer and Office Equipment [Member] | Minimum [Member]
Property Plant And Equipment [Line Items]
Useful Life (Years)	3 years
Furniture, Computer and Office Equipment [Member] | Maximum [Member]
Property Plant And Equipment [Line Items]
Useful Life (Years)	5 years

Fixed Assets, net - Additional

Fixed Assets, net - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) Machine	Jun. 30, 2021 USD ($)
Mining Machine [Member]
Property Plant And Equipment [Line Items]
Number of machines received | Machine			2,521
Depreciation			$ 0
Furniture, Computer and Office Equipment [Member]
Property Plant And Equipment [Line Items]
Depreciation	$ 2,000	$ 3,300	$ 5,100	$ 5,000

Digital Assets - Schedule of Di

Digital Assets - Schedule of Digital Assets (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Digital Assets [Line Items]
Digital assets, End of period	$ 408,879	$ 408,879
Purchase of digital assets		1,286,586
GUSD Earned on digital assets		5,658
Sale of digital assets		(505,658)
Impairment loss on digital assets	(377,707)	(377,707)
Bitcoin [Member]
Digital Assets [Line Items]
Digital assets, End of period	$ 408,879	$ 408,879

Digital Assets - Additional Inf

Digital Assets - Additional Information (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2022 USD ($) Bitcoin	Jun. 30, 2022 USD ($) Bitcoin
Digital Assets [Line Items]
Impairment loss on digital assets	$ (377,707)	$ (377,707)
Carrying value of digital assets	408,879	408,879
Sale of digital currencies		505,658
Bitcoin [Member]
Digital Assets [Line Items]
Purchase of digital assets	$ 787,000	$ 787,000
Purchase of bitcoin | Bitcoin	21.5	21.5
Impairment loss on digital assets	$ 378,000	$ 378,000
Carrying value of digital assets	409,000	409,000
Gemini Dollars [Member]
Digital Assets [Line Items]
Purchase of digital assets	0	500,000
Impairment loss on digital assets	0	0
Additional income earned	$ 1,000	5,600
Sale of digital currencies		$ 506,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	Jul. 29, 2022	Jun. 30, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Share price		$ 0.001	$ 0.001
Subsequent Event [Member] | LMF Acquisition Opportunities Inc [Member]
Subsequent Event [Line Items]
Aggregate amount deposited in trust account	$ 1,035,000
Subsequent Event [Member] | Public Share [Member] | LMF Acquisition Opportunities Inc [Member]
Subsequent Event [Line Items]
Share price	$ 0.10