LM Funding America, Inc.

Good day, and thank you for standing by. Welcome to the LM Funding America, Inc. Second Quarter 2025 Earnings Conference Call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded. I'd like to hand the conference over to your first speaker today, Coley Fletcher, Director of Orange Group Advisor. Please go ahead.

Thank you, Operator, and thank you all for joining LM Funding America's second quarter 2025 earnings conference call. Joining us today are Chairman and CEO Bruce Rogers, President of U.S. Digital Mining Ryan Duran, and CFO Richard Russell. For today's call, we have uploaded an accompanying supplemental investor presentation which can be found under the Events section of LM Funding's Investor Relations website. Before we get started, please note that our remarks today may include forward-looking statements. These statements are subject to risks, and uncertainties and actual results may differ materially. We will also reference certain non-GAAP financial measures today. Please refer to our 10-Q filing and our website for a full reconciliation of these non-GAAP performance measures to the most comparable GAAP measures. For a more comprehensive discussion of these and other risks, please refer to our filings with the SEC, available on sec.gov and in the investor section of our website at www.lmfunding.com backslash investors. I'll now turn the call over to our CEO, Bruce Rogers. Bruce?

Thanks, Cody. Good morning, and thank you for joining us today. On August 1st, we signed a definitive purchase agreement to acquire an 11-megawatt Bitcoin mining site in Columbus, Mississippi from Greenwich Generation for $3.9 million, or approximately $355,000 per megawatt. The 6.4-acre property comes with low power costs and roughly 7.5 megawatts of mining capacity, along with an additional 3,000 KVA transformer. The acquisition is fully funded from our balance sheet. closing expected on or before September 16, 2025. This acquisition meets our M&A criteria and is precisely the type of attractively priced asset we are targeting. Once closed, this site will increase our wholly owned U.S. power and Bitcoin mining capacity to 26 megawatts, equivalent to approximately 1.7 exahash capacity, assuming latest generation Bitcoin miners at 15 joules per terahash. It will also accelerate our expansion timeline compared to greenfield builds, maximizing ROI for our shareholders. We also made progress towards our two-megawatt immersion-based expansion in Oklahoma, which we expect to be completed by the end of the year. In our view, immersion cooling delivers superior ROI in climates like Oklahoma by mitigating many of the performance and maintenance challenges faced by traditional air-cooled systems. With these strategic expansions firmly underway, we strengthened our operational foundation and positioned LM funding with a strong growth runway. In terms of our financial results for the quarter, we mined 18.4 Bitcoin, down slightly from Q1 due to curtailments for hot summer months and the relocation of approximately 800 miners from our third-party hosting site in Kentucky to our wholly owned site in Oklahoma. These S21 and XP next generation miners replaced our S19J pro miners and increased our overall fleet efficiency. These miners are also now running on approximately 40% cheaper power, thereby increasing our profitability and mining margins. In addition, thanks to our strategic transition to a fully integrated model, curtailment and energy sales generated approximately $223,000 in Q2. which helped offset some of the lower Bitcoin production and drove higher mining margins compared to Q1. We ended the second quarter with 155.5 Bitcoin valued at $16.7 million, about $3.25 Bitcoin per share based on June 30 prices, and ended July with 150.4 Bitcoin valued at $17.8 million, or $3.46 of Bitcoin per share. I'll now hand it over to Ryan Duran, president of our U.S. Digital Mining subsidiary, to discuss our operations in more detail. Ryan?