LM Funding America, Inc., a cryptocurrency mining company headquartered in Tampa, has recently procured a $5.6 million loan to finance the acquisition of a Texas-based mining facility, aiming to capitalize on its 72-megawatt capacity.

This strategic move is expected to substantially enhance their mining operations, particularly by utilizing the latest immersion mining techniques to maximize output.

The Texas site, currently operational at 55 PH/s of mining capacity, represents a significant part of LM Funding’s expansion strategy. By acquiring this facility, LM Funding plans to deploy additional capital to fully utilize the site’s capacity and potentially boost its computational power to match the increasing demands of Bitcoin mining.

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