PowerCompute (Formerly LM Funding America, Inc.) Issues Shareholder Letter Following New Company Strategic Direction

Company Formally Begins Trading Under New Nasdaq Ticker Symbol “PWCM”

TAMPA, Fla., July 22, 2026 (GLOBE NEWSWIRE) -- PowerCompute, Inc. (NASDAQ: PWCM) ("PowerCompute" or the "Company”), formerly known as LM Funding America, inc., a Bitcoin treasury and mining company expanding into high-performance computing (“HPC”) and artificial intelligence (“AI”) infrastructure, today issued a letter to shareholders following the recent change in strategic direction of the Company. The Company also announced that its common stock will begin trading under its new corporate name and Nasdaq ticker symbol, PWCM, effective at the open of market trading today, Wednesday, July 22, 2026.

PowerCompute’s Chairman, Chief Executive Officer and President, Bruce M. Rodgers, shares key highlights of the Company’s new strategic direction, what it means for the overall business, and why the Company believes it positions the business for long-term value creation.

Dear Shareholders,

A New Name for a New Direction

As we move our focus, we need an identity that captures the scale of our ambition and one that better encapsulates the markets and customers we will serve. We view PowerCompute as more than a change in name; it represents a commitment to powering high-performance computing, artificial intelligence infrastructure and Bitcoin mining in this evolving market.

Key Strategic Highlights

The Company built power infrastructure from zero to 26 wholly-owned megawatts in approximately fifteen months. While approximately 22 MW is currently utilized in Bitcoin mining operations, all or a part of the Company’s megawatts are immediately addressable for HPC deployment. We are currently in discussions with an Oklahoma power provider regarding a potential capacity expansion of between 10 and 50 megawatts.
We have the capability to operate a “power-first” deployment strategy. With power often cited as the top constraint for AI deployment, we believe we have the ability and infrastructure to capitalize on the emerging model of modular GPU infrastructure deployed directly where low-cost, operational power already exists, enabling time-to-revenue measured in months rather than years.
We are currently in the process of a proof-of-concept study with the deployment of professional-grade GPUs at the Oklahoma facility. This system is listed on a GPU compute marketplace to generate early revenue and build the operational knowledge, unit economics, and staff capability needed to execute at a larger scale.
The Company estimates the opportunity at its current 26-megawatt capacity, with a full HPC buildout, could support annual revenues of between $20 million and $50 million. ⁽¹⁾

What This Means

Our objective is to own and operate the HPC infrastructure directly by delivering facilities that provide power and space to third parties. We intend to fund the initial HPC expansion through a combination of Bitcoin mining operations and Bitcoin treasury.

Long-Term Value Creation

While we did not build the sites for HPC, we believe they are ideally positioned to capitalize on this rapidly arriving opportunity. The capabilities that enabled the Company to mine Bitcoin efficiently are in line with what the AI market is now seeking, owned low-cost power with operational infrastructure in place and room to grow. We view this as a tremendous market opportunity and are excited about the pathway ahead.

Thank you for your trust and continued support.

Sincerely,

Bruce M. Rodgers
Chairman, Chief Executive Officer and President

⁽¹⁾

^{Revenue and buildout cost projections are based on industry benchmarks and published data for HPC and AI compute infrastructure. These figures represent potential outcomes assuming full deployment of available power capacity and are not LMFA-specific guidance. Actual results will depend on customer contracts, infrastructure costs, utilization rates, and other factors. Such a buildout would require additional funding through either the debt or capital markets.}

About PowerCompute

PowerCompute, Inc. (Nasdaq: PWCM) is a Bitcoin treasury and mining company expanding into high-performance computing and artificial intelligence infrastructure. Founded in 2008 and headquartered in Tampa, Florida, the Company operates 26 megawatts of wholly-owned power infrastructure across facilities in Oklahoma and Mississippi. The Company also operates a technology-enabled specialty finance business providing funding to nonprofit community associations primarily in the State of Florida. For more information, please visit https://www.power-compute.com.

Forward-Looking Statements

This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company’s most recent Annual Report on Form 10-K and its other filings with the SEC, which are available at www.sec.gov. These risks and uncertainties include, without limitation, our ability to successfully enter and operate in the high-performance computing and AI infrastructure business, the availability and cost of GPU and related infrastructure equipment, competition in the HPC and AI compute market, our ability to finance our site acquisitions and cryptocurrency mining operations, the risks of operating in the cryptocurrency mining business and our ability to grow that business, the capacity of our Bitcoin mining machines and our related ability to purchase power at reasonable prices, our ability to identify and acquire additional mining sites, our ability to acquire new accounts in our specialty finance business at appropriate prices, changes in governmental regulations that affect our ability to collect sufficient amounts on defaulted consumer receivables, changes in the credit or capital markets, changes in interest rates, and negative press regarding the debt collection industry. The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition, and results of operations.

Investor and Media Contact

KCSA Strategic Communications
Philip Carlson
pcarlson@kcsa.com
212-896-1233

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