NEWS
LM Funding America, Inc. Enters into Agreement to Make Pivotal Acquisition
LM Funding America (NASDAQ: LMFA) has signed an asset purchase agreement to acquire a 15 MW mining site in Oklahoma from Tech Infrastructure JV I for $7.3 million. The company currently operates 10 MW of Bitcoin mining machines at this site. The acquisition includes air-cooled GIGA containers, transformers, and related infrastructure. The payment structure involves $1.1 million in cash, $3.7 million in loan credits, and $2.5 million held in escrow. By January 2025, LM Funding plans to deploy approximately 800 S21 and XP Bitmain machines and 640 S19J Pros after vacating the current third-party miner from 5 MW of space.
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