Bitcoin mining firm LM Funding America is planning to expand into high-performance computing and AI infrastructure, with the company looking to repurpose capacity across its Bitcoin mining sites in Oklahoma and Mississippi.
The Tampa, Florida-based company said this month that it had ordered its initial AI GPU server hardware for deployment at its Oklahoma facility. The system will use Nvidia ‘professional-grade’ GPUs and is expected to be listed on a GPU compute marketplace once deployed.
LM Funding said the move marks the beginning of a broader strategic expansion into AI and HPC infrastructure, using power and data center assets originally built for Bitcoin mining. The company said it is also marketing available power capacity at both of its existing facilities to AI colocation and power hosting customers.
The company currently operates 26MW of wholly-owned power infrastructure across two sites: a 15MW facility in Calumet, Oklahoma, and an 11MW facility in Columbus, Mississippi.
According to its first quarter filing, LM Funding had around 7,500 Bitcoin mining machines as of March 31, 2026, with a total hashing capacity of approximately 0.85 EHps.
The company’s Oklahoma site hosts around 4,640 Antminer machines with a projected hashrate of 554 PH/s, while the Columbus site hosts around 2,370 Antminer machines with a projected hashrate of 235 PHps.
LM Funding said around 22MW of its capacity is currently used for active Bitcoin mining operations. The company is now marketing up to 10MW of operational and energized capacity to potential AI customers, and said some mining infrastructure could be transitioned to AI and HPC use if demand warrants it.
The company has also ordered initial GPU hardware for the Oklahoma site as a proof-of-concept deployment. LM Funding said the trial will help it gather operational data, test unit economics, and build staff experience before any larger-scale AI deployment.
Bruce Rodgers, chairman and CEO of LM Funding, said the company “did not build these sites for AI,” but added that the same attributes needed for efficient Bitcoin mining, such as owned power, low energy costs, and operational infrastructure, as well as room to grow, are now being sought by the AI compute market.
LM Funding said it is also in discussions with its Oklahoma power provider regarding a potential 10-50MW expansion, subject to load studies and related assessments. The company said it will continue to evaluate additional power site acquisitions that could support either Bitcoin mining or future AI workloads.
The company estimated that a full AI buildout across its existing 26MW footprint could support annual revenue of between $20 million and $50 million, based on industry benchmarks of $800,000 to $2 million per megawatt per year. LM Funding said such a buildout would require additional financing through debt or capital markets, with estimated buildout costs of $10-12 million per megawatt.
The AI pivot follows a loss-making first quarter for the company. LM Funding reported revenue of $2.1 million for the three months ended March 31, 2026, down around 11 percent year-on-year. The company posted a net loss of $10.1 million and a Core EBITDA loss of $8.4 million, primarily driven by non-cash Bitcoin fair value adjustments and operating costs tied to its expanded mining platform.
LM Funding mined 26.1 Bitcoin during the quarter and said it reached a record energized hashrate of around 790 PHps in March. As of March 31, the company held 338.2 Bitcoin, including 174 Bitcoin held by Galaxy Digital in a digital assets receivable account, valued at approximately $23.1 million.
Founded in 2008, LM Funding historically operated as a specialty finance company providing funding to nonprofit community associations. It now describes itself as a Bitcoin treasury and mining company expanding into AI and HPC infrastructure.
