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Cryptocurrency penny stocks are heating up right now. And as a result of bullish momentum with popular cryptocurrencies like Bitcoin and DogeCoin, many penny stocks<\/a> involved in crypto have seen complementary rises in value. Within the stock market, there are plenty of options to choose from as far as companies that work in crypto or blockchain. To understand this further, let\u2019s break it down.<\/p>\n At the top, we have companies that mine cryptocurrency. These tend to be the most highly correlated to the crypto industry for obvious reasons. Keep in mind that these penny stocks also tend to be more volatile than most due to the overall volatility of the cryptocurrency industry.\u00a0<\/p>\n [Read More] <\/strong>Penny Stocks To Watch Under $1 With Bitcoin Prices Up 20%+ In October<\/a><\/p>\n A step down from this, we have companies that work in cryptocurrency-related technology. This could be the production of Bitcoin mining machines, mining-related tech, and so on. And lastly, we have companies that are involved in blockchain tech.\u00a0<\/p>\n While you might think that blockchain and crypto are the same, they are quite different. Blockchain is the underlying technology that allows cryptocurrency to function. And cryptocurrency is a product of blockchain tech. <\/p>\n While blockchain tech has a variety of applications such as decentralized finance and other decentralized opportunities, cryptocurrency simply offers an alternative to fiat currency. So, with all of this in mind, let\u2019s take a look at four cryptocurrency penny stocks<\/a> to watch right now.\u00a0<\/p>\n LMFA stock is a penny stock that has been making headway in the past year or so. In the past five days, shares of LMFA stock have shot up by over 11% with a one-year gain of almost 50%. Today, LM Funding made an exciting announcement during pre-market trading. But before we get into it, let\u2019s talk about what LMFA does. LM Funding is a finance company that provides funding to tech-based businesses. This includes its entrance into blockchain via its subsidiary, U.S. Digital Mining and Hosting Co.\u00a0<\/p>\n [Read More] <\/strong>Hot Penny Stocks That Are Trending in 2021<\/a><\/p>\n Today, LM Funding announced that it has purchased an additional 4,000 S19J Pro Antiminer Machines from Bitmain, worth $25.3 million. The company had previously purchased 1,000 of these machines for a price of $6.3 million. LM Funding states that once the 5,000 machines are delivered, it will have the capacity to mine 504 petahash, which could generate almost 100 Bitcoin per month.\u00a0<\/p>\n \u201cIn September, we began to purchase Bitcoin mining machines as a cost-effective way to purchase Bitcoin assets at a risk-adjusted asset exposure to the ecosystem while generating positive operating income. <\/p>\n Our initial plans have expanded with the purchase of an additional 4,000 miners at favorable prices. We plan to run all of our mining machines with low carbon energy housed in custom build containers purchased from Bit5ive.\u201d\u00a0<\/p>\n Bruce M. Rodgers, the CEO of LM Funding<\/cite><\/p><\/blockquote>\n This is exciting news for the company and comes at a time when the crypto industry is booming. Considering this, do you think that LM Funding is worth adding to your penny stocks watchlist<\/a> or not?<\/p>\nWhat Are Crypto Penny Stocks And Are They Worth It?<\/h3>\n
4 Crypto Penny Stocks to Watch in October 2021\u00a0<\/h2>\n
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Crypto Penny Stocks to Watch: LM Funding America Inc. (NASDAQ: LMFA)\u00a0<\/h3>\n
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