LM Funding America, Inc. Q2 FY2026 Earnings Call

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PowerCompute Q2 2026 Earnings Summary

  • Company Context: PowerCompute (NASDAQ: PWCM, formerly LM Funding America) is transitioning from Bitcoin mining to AI/HPC infrastructure hosting. Controls 26 MW of energized power across two sites (15 MW Calumet, OK at ~$0.037/kWh; 11 MW Columbus, MS at ~$0.035/kWh; blended ~$0.036/kWh). ~22 MW currently used for Bitcoin mining; evaluating expansion and additional low-cost sites.
  • Strategic Update: July 2026 business expansion into AI/HPC colocation. Proof-of-concept: Acquired and listed first GPU on Vast.ai marketplace (no Q2 revenue; immaterial Q3 revenue expected). Marketing 4 MW at Mississippi site for hosting; full 11 MW convertible. Long-term illustrative estimate (not guidance): $20M–$50M annual revenue potential at full 26 MW build-out, requiring substantial capital and multi-year execution.

Financial Performance (Q2 2026 vs. Prior Periods)

  • Revenue: $2.1 million (flat vs. Q1 2026 $2.1 million; +9.8% YoY vs. Q2 2025 $1.9 million). Growth driven by more active miners and lower difficulty, offset by lower average Bitcoin price.
  • Bitcoin Mined: 27.9 BTC (up from 26.1 BTC in Q1 2026; up from 18.4 BTC in Q2 2025).

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Operator: Good day, and thank you for standing by. Welcome to the PowerCompute Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Please be advised today's conference is being recorded. I would like to hand the conference over to your speaker today, Bill Carlson. Please go ahead. Bill Carlson: Thank you, operator, and thank you all for joining us on PowerCompute's Second Quarter 2026 Earnings Conference Call. Joining us today are Chairman and Chief Executive Officer, Bruce Rodgers; Chief Financial Officer, Richard Russell; and President of U.S. Digital Mining, Ryan Duran. An accompanying supplemental investor presentation has been posted under the Events section of our Investor Relations website. Before we begin, please note that today's remarks include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future results and are subject to risks and uncertainties that could cause actual results to differ materially. Important factors include, among others, our ability to retain the listing of our securities on the NASDAQ Capital Market, our liquidity and our ability to obtain additional financing on acceptable terms, the short-dated nature of our credit facility and our ability to renew it, the early stage of our AI infrastructure business and our lack of operating history in it, the volatility of Bitcoin prices and risks related to the use of Bitcoin as collateral and o

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