MARA Holdings Acquires Majority Stake in Exaion for AI Expansion
- MARA Holdings signed a $168 million deal to acquire a 64% stake in Exaion, a subsidiary of Électricité de France.
- The agreement includes an option to increase the stake to 75% by investing an additional $127 million by 2027.
- Exaion specializes in high-performance computing (HPC) and AI infrastructure, partnering with Nvidia and Deloitte.
- MARA is the largest Bitcoin miner by production and market cap but has been slower to enter the AI space compared to competitors.
- In July, MARA mined only 703 Bitcoin, falling behind competitor IREN, which mined a record of 728 Bitcoin.
This acquisition aims to enhance MARA’s capabilities in AI and HPC as it faces rising Bitcoin mining difficulty and energy consumption challenges. The deal is expected to close in Q4, pending necessary approvals.
MARA’s revenue increased by 64% year-on-year to $238 million in Q2 while holding approximately 50,000 Bitcoin worth nearly $6 billion, solidifying its position as a major player in the industry.
