LM Funding America, Inc. Announces Strategic Collaboration with Arthur Mining to Support Development of New Hosting Sites with Dedicated Capacity Expected to Drive Revenue Growth and Significant Cost Efficiencies

Tampa, FL, June 07, 2024 (GLOBE NEWSWIRE) — LM Funding America, Inc. (NASDAQ:LMFA) (“LM Funding” or the “Company”), a cryptocurrency mining and technology-based specialty finance company, today announced a strategic collaboration to support the development of a new 15 MW hosting site being developed by Arthur Mining Inc., near Oklahoma City. In connection with collaboration, LM Funding has committed to loaning $2.5 million to a new joint venture, majority-owned by Arthur Mining and co-owned by a third-party, in order to accelerate completion of the 15 MW hosting site.

As part of the agreement, the Company has entered into a hosting contract with Arthur Mining for approximately 3,000 of the Company’s Bitmain Antminer S19j Pro machines to be deployed at the new…