MARA to Acquire Majority Stake in Exaion in $168M AI and HPC Expansion

MARA to Acquire Majority Stake in Exaion in $168M AI and HPC Expansion
     

Bitcoin mining giant moves into AI infrastructure as mining difficulty climbs to record highs

Bitcoin miner MARA Holdings is making its largest artificial intelligence push to date with a $168 million deal to acquire a 64% stake in Exaion, a subsidiary of French state-owned energy producer Électricité de France (EDF) – one of the world’s leading low-carbon electricity providers.

The acquisition, announced Tuesday, includes an option for MARA to increase its ownership to 75% by 2027 through an additional $127 million investment, contingent on meeting specific performance targets. The transaction is expected to close in the fourth quarter of this year, pending regulatory approvals.

 

 

Founded to support France’s energy transition goals, Exaion specializes in developing high-performance computing (HPC) data centers and delivering AI and cloud infrastructure. The company works closely with industry heavyweights, including Nvidia, and collaborates with Deloitte to offer secure, scalable solutions for both enterprise and public-sector clients.

According to MARA, the partnership will position Exaion for rapid global expansion, enabling it to provide large-scale AI and cloud services across multiple industries. “As data protection and energy efficiency become top priorities for governments and enterprises alike, our combined expertise will allow us to deliver cloud solutions that are both future-ready and environmentally sustainable,” said MARA CEO and chairman Fred Thiel.

 

AI Expansion Aligns with Bitcoin Mining Challenges

MARA’s strategic move into AI infrastructure comes at a time when Bitcoin mining difficulty has surged to record levels, significantly increasing energy demands and compressing profit margins for miners who fail to optimize efficiency or reduce operational costs.

While MARA is the largest Bitcoin miner by production volume, network hash rate, and market capitalization, it has been slower than many of its peers to diversify into AI and HPC services. Thiel explained via an X Spaces session on Monday that the company “deliberately chose not to be in the first wave” of miners retrofitting existing facilities for AI. Instead, MARA opted to invest in an established partner with proven expertise and a strong customer base, allowing it to “move quickly, intelligently, and credibly” into the sector.

 

Rising Competition in Bitcoin Production

In July, MARA mined 703 BTC – trailing competitor IREN, which produced a record 728 BTC in the same month. The decline in MARA’s production was attributed to fewer active mining machines.

Despite this, MARA posted strong financial results in the second quarter, with revenue rising 64% year-over-year to $238 million. The company also continues to hold one of the largest Bitcoin treasuries in the world at 50,000 BTC, valued at nearly $6 billion – second only to Michael Saylor’s Strategy.

This acquisition marks a significant turning point for MARA, signaling a dual focus on sustaining its Bitcoin dominance while expanding aggressively into the fast-growing AI and HPC markets.

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