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

LM FUNDING AMERICA, INC.

Acquired assets of 15MW mining site in Oklahoma for $7.3M; paid $1.1M cash, $3.7M credit against loans, $2.5M escrowed.
Company now controls site with up to 60MW potential; expects to use full 15MW at $0.04/kWh.
Gross proceeds of $5.1M from exercise of 1,736,370 existing warrants at $2.98/share; new warrants for 3,472,740 shares at $2.95/share.
Acquisition funded by prior loans of $3.8M converted to credit; warrant proceeds for more efficient miners and site expansion.
Q1 2025 combined mining capacity expected to reach 562 petahash at Oklahoma site plus Core Scientific hosted site.

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