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 collaborates with Nvidia and Deloitte.
- MARA is currently the largest Bitcoin miner by production and market cap, holding approximately $6 billion in Bitcoin assets.
- In July, MARA mined only 703 Bitcoin, falling behind competitor IREN’s record of 728 Bitcoin due to fewer active machines.
This acquisition positions MARA to enhance its capabilities in AI and cloud infrastructure amid rising Bitcoin mining difficulty, which has increased energy consumption and impacted profitability. The transaction is expected to close in Q4 pending approvals.
MARA’s revenue rose by 64% year-on-year to $238 million in Q2, highlighting its strong financial position despite recent production challenges.(Source)
