LM Funding closes $7.3M acquisition of 15MW Oklahoma mining site and raises $5.1M via warrant exercise

LM FUNDING AMERICA, INC.

Acquired 15MW mining site in Oklahoma for $7.3M: $1.1M cash + $3.7M loan credit + $2.5M escrow for seller obligations.
Site has 60MW potential with $0.04/kwh power; option to purchase underlying land after Dec 2026.
Warrant exercise with institutional investor: 1.74M shares at $2.98, gross proceeds $5.1M; received new 5-year warrants at $2.95.
New warrants for 3.47M shares; funds to buy more efficient miners and acquire additional sites.
Company expects 562 petahash capacity at Oklahoma site in Q1 2025, addition to Core Scientific hosting.

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