Common Stock par value $0.001 per share

LM FUNDING AMERICA, INC.

1200 WEST PLATT STREET, TAMPA, FL, 33606

This Schedule 13D is filed by: (i) Hyperscale Data, Inc., a Delaware corporation ("Hyperscale"), as the holder of all of the equity interests of Ault Capital Group, Inc.; (ii) Alpha Structured Finance LP, a Delaware limited partnership ("Alpha Fund"), with respect to the Shares beneficially owned by it; (iii) Alpha Structured Finance GP LLC, a Delaware limited liability company ("Alpha GP"), as the general partner of Alpha Fund; (iv) ACG Alpha Management LLC, a Delaware limited liability company ("Alpha Management"), as the investment manager of Alpha Fund and the managing member of Alpha GP; (v) Ault Lending, LLC, a California limited liability company ("Ault Lending"), with respect to the Shares beneficially owned by it; (vi) Ault Capital Group, Inc., a Nevada corporation ("Ault Capital"), as the holder of all of the equity interests of Alpha Management and Ault Lending; and (vii) Milton C. Ault, III, as CEO and Chief Investment Officer of Alpha Management, Executive Chairman of Ault Capital and Executive Chairman of Hyperscale. Each of the foregoing is referred to as a "Reporting Person" and collectively as the "Reporting Persons." Set forth on Exhibit 1 annexed hereto ("Exhibit 1") is the name and present principal occupation or employment, principal business address and citizenship of the executive officers and directors of Hyperscale, Alpha Fund, Alpha GP, Alpha Management, Ault Lending, and Ault Capital. To the best of the Reporting Persons' knowledge, except as otherwise set forth herein, none of the persons listed in Exhibit 1 beneficially owns any securities of the Issuer or is a party to any contract, agreement or understanding required to be disclosed herein.

The principal business address of Hyperscale is 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141. The principal business address of Alpha Fund is 11411 Southern Highlands Parkway, Suite 330, Las Vegas, NV 89141. The principal business address of Alpha GP is 11411 Southern Highlands Parkway, Suite 330, Las Vegas, NV 89141. The principal business address of Alpha Management is 11411 Southern Highlands Parkway, Suite 330, Las Vegas, NV 89141. The principal business address of Ault Lending is 940 South Coast Drive, Suite 200, Costa Mesa, CA 92626. The principal business address of Ault Capital is 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141. The principal business address of Mr. Ault is c/o Hyperscale Data, Inc., 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141.

The principal business of Hyperscale is operating as an artificial intelligence data center company anchored by Bitcoin as well as a wholly owned subsidiary that is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. The principal business of Alpha Fund is investing in securities. The principal business of Alpha GP is serving as the general partner of Alpha Fund. The principal business of Alpha Management is serving as the investment manager of Alpha Fund. The principal business of Ault Lending is providing commercial loans and investing in securities. The principal business of Ault Capital is being a diversified holding company. The principal occupation of Mr. Ault is serving as the Executive Chairman of Hyperscale.

No Reporting Person nor any person listed in Exhibit 1 has, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Hyperscale is organized under the laws of the State of Delaware. Alpha Fund is organized under the laws of the State of Delaware. Alpha GP is organized under the laws of the State of Delaware. Alpha Management is organized under the laws of the State of Delaware. Ault Lending is organized under the laws of the State of California. Ault Capital is organized under the laws of the State of Nevada. Mr. Ault is a citizen of the United States of America. The citizenship of the persons listed in Exhibit 1 is set forth therein.

The aggregate percentage of Shares reported beneficially owned by the Reporting Persons is based upon 12,209,413 Shares outstanding as of November 11, 2025, which is the total number of Shares outstanding as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 14, 2025. As of the date hereof, Hyperscale, as the majority holder of the equity interests of Ault Capital, may be deemed to beneficially own the 891,428 Shares beneficially owned in the aggregate by Alpha Fund and Ault Lending. Percentage: Approximately 7.3% As of the date hereof, Alpha Fund beneficially owned 185,000 Shares. Percentage: Approximately 1.5% As of the date hereof, Alpha GP, as the general partner of Alpha Fund, may be deemed to beneficially own the 185,000 Shares beneficially owned by Alpha Fund. Percentage: Approximately 1.5% As of the date hereof, Alpha Management, as the investment manager of Alpha Fund, may be deemed to beneficially own the 185,000 Shares beneficially owned by Alpha Fund. Percentage: Approximately 1.5% As of the date hereof, Ault Lending beneficially owned 706,428 Shares. Percentage: Approximately 5.8% As of the date hereof, Ault Capital, as the majority holder of the equity interests of Alpha Management and Ault Lending, may be deemed to beneficially own the 891,428 Shares beneficially owned in the aggregate by Alpha Fund and Ault Lending. Percentage: Approximately 7.3% As of the date hereof, Mr. Ault, as the CEO and Chief Investment Officer of Alpha Management, Executive Chairman of Ault Capital, and the Executive Chairman of Hyperscale, may be deemed to beneficially own the 891,428 Shares beneficially owned in the aggregate by Alpha Fund and Ault Lending. Percentage: Approximately 7.3%

Hyperscale: 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 891,428 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 891,428 Alpha Fund: 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 185,000 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 185,000 Alpha GP: 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 185,000 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 185,000 Alpha Management: 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 185,000 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 185,000 Ault Lending: 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 706,428 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 706,428 Ault Capital: 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 891,428 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 891,428 Mr. Ault: 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 891,428 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 891,428

The transactions in the Shares by each of the Reporting Persons during the past sixty days are set forth in Exhibit 2 and are incorporated herein by reference.

No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.

Not applicable.