LM Funding America Closes Acquisition of 11 MW Site and Miners in Columbus Mississippi for $4.0 Million

Rhea-AI Summary

LM Funding America (NASDAQ:LMFA) has completed the acquisition of an 11 MW Bitcoin mining facility in Columbus, Mississippi from Greenidge Generation Holdings for $4.0 million. The acquisition includes the site and approximately 7.5 MW or 157 PH/s of operational hashrate from ~2,300 Bitmain S19 series miners.

The facility features favorable power pricing of $0.036/kWh and will increase LMFA's total owned capacity to 26 MW. The acquisition was funded through a $1.3 million secured loan and existing liquid assets. The company plans to fill remaining capacity with existing miners and cost-effective additions while implementing firmware optimizations.

Positive

• Acquisition increases total owned capacity by 73% to 26 MW
• Favorable power pricing at $0.036/kWh will lower fleetwide average electricity costs
• 157 PH/s of operational hashrate from ~2,300 Bitmain S19 miners included
• Geographic diversification reduces single-site risk
• Partial funding through secured loan preserves cash position

Negative

• Takes on $1.3 million in secured debt to partially fund acquisition
• Additional capital required to fill remaining capacity with miners

Insights

Bitcoin Mining Infrastructure Analyst

LMFA expands mining capacity by 73% with strategic $4M acquisition, securing low-cost power and geographic diversification.

LM Funding has closed a $4 million acquisition of an 11 MW Bitcoin mining facility in Columbus, Mississippi from Greenidge Generation Holdings. This strategic purchase includes both the physical site and approximately 2,300 Bitmain S19 series miners delivering 7.5 MW or 157 PH/s of operational hashrate. The deal features remarkably favorable power pricing at $0.036/kWh, which is substantially below industry averages.

The acquisition increases LMFA's total owned capacity by 73% (from 15 MW to 26 MW), demonstrating significant infrastructure expansion. What makes this deal particularly attractive is the combination of physical assets and operational miners at a price point of approximately $364,000 per MW of capacity, which represents excellent value in the current market.

The company's strategy of targeting smaller, undervalued power assets that larger operators overlook appears to be paying dividends. By establishing operations in Mississippi, LMFA reduces its geographic concentration risk while creating immediate hashrate growth. The financing structure—combining a $1.3 million secured loan with existing liquid assets—indicates a balanced approach to capital deployment that preserves financial flexibility.

The 3.6¢/kWh power cost is especially notable when compared to industry averages that typically range from 5-8¢/kWh. This cost advantage provides critical operational leverage in the highly competitive Bitcoin mining landscape where electricity represents 80-90% of ongoing operational expenses. Management's stated plan to optimize firmware and deploy additional miners into the remaining 3.5 MW of capacity should further enhance the site's economics and overall production capacity.

TAMPA, Fla. , Sept. 18, 2025 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a Bitcoin treasury and mining company, today announced that it has closed on the acquisition of an 11 MW Bitcoin mining facility in Columbus, Mississippi from Greenidge Generation Holdings, Inc. The acquisition includes both the site and approximately 7.5 MW or 157 PH/s of operational hashrate from ~2,300 Bitmain S19 series miners for total consideration of $4.0 million. This site comes with favorable power pricing of approximately $0.036/kWh.

“This Mississippi site adds 11 MW of Bitcoin mining capacity at an attractive price and is expected to increase our total owned capacity to 26 MW,” said Bruce M. Rodgers, Chairman and CEO of LM Funding. “The acquisition fits perfectly with our strategy of buying smaller and undervalued power assets that larger operators often overlook. By securing scalable power in a new geographic region, we diversify our footprint, reduce single-site risk, and create a platform for accelerated miner deployment—all while adhering to our disciplined capital allocation framework and strengthening our Bitcoin treasury.”

“We plan to fill the remaining capacity at the facility with a combination of existing miners and additional cost-effective miners while leveraging firmware optimizations that have improved margins at our Oklahoma site,” added Ryan Duran, President of LM Funding’s U.S. Digital Mining & Hosting Co. subsidiary. “We also expect the power pricing of approximately $0.036/kWh to lower our overall fleetwide average electricity price.”

The acquisition was funded in part by a $1.3 million secured loan, and the remainder was from the use of existing liquid assets. Additional information regarding the acquisition is included in our Current Report on Form 8-K filed today.

About LM Funding America
LM Funding America, Inc. (Nasdaq: LMFA), operates as a Bitcoin treasury and mining company. The Company was founded in 2008 and is based in Tampa, Florida. The Company also operates a technology-enabled specialty finance business that provides funding to nonprofit community associations primarily in the State of Florida. For more information, please visit https://www.lmfunding.com.

Forward-Looking Statements
This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company's most recent Annual Report on Form 10-K and its other filings with the SEC, which are available at www.sec.gov. These risks and uncertainties include, without limitation, the risks of operating in the cryptocurrency mining business, the risk that we will not realize the anticipated benefits from our acquisition of the Columbus, Mississippi facility, our limited operating history in the cryptocurrency mining business and our ability to grow that business, the capacity of our Bitcoin mining machines and our related ability to purchase power at reasonable prices, our ability to identify and acquire additional mining sites, the ability to finance our site acquisitions and cryptocurrency mining operations, the risks associated with allocating increased assets to our Bitcoin treasury operations and strategy, our ability to purchase Bitcoin at the prices we want and create positive BTC yield, the risks of investing in Bitcoin in general and Bitcoin’s volatility, our ability to acquire new accounts in our specialty finance business at appropriate prices, changes in governmental regulations that affect our ability to collected sufficient amounts on defaulted consumer receivables, changes in the credit or capital markets, changes in interest rates, and negative press regarding the debt collection industry. The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition, and results of operations.

For investor and media inquiries, please contact:
Investor Relations
Orange Group
Yujia Zhai 
LMFundingIR@orangegroupadvisors.com 

FAQ

How much did LM Funding (LMFA) pay for the Mississippi Bitcoin mining facility?

LM Funding paid $4.0 million for the 11 MW Bitcoin mining facility in Columbus, Mississippi, which includes both the site and approximately 2,300 Bitmain S19 series miners.

What is the power cost at LMFA's new Mississippi mining facility?

The power pricing at the new facility is approximately $0.036/kWh, which will help lower LMFA's overall fleetwide average electricity price.

How many Bitcoin miners were included in LMFA's Mississippi facility acquisition?

The acquisition included approximately 2,300 Bitmain S19 series miners, providing 7.5 MW or 157 PH/s of operational hashrate.

How did LM Funding finance the Mississippi mining facility acquisition?

The acquisition was funded through a combination of a $1.3 million secured loan and the use of existing liquid assets.

What is LMFA's total mining capacity after the Mississippi acquisition?

The acquisition increases LMFA's total owned capacity to 26 MW, representing a significant expansion of their mining operations.