MARA Holdings signs $168 million deal to acquire 64% of Exaion, expanding into AI and HPC

MARA Holdings, a leading Bitcoin mining company, has made its largest AI investment to date, signing a $168 million deal to acquire a 64% stake in Exaion, a subsidiary of Électricité de France (EDF), one of the world’s largest low-carbon energy producers. The deal, announced on Tuesday, also includes an option for MARA to increase its stake to 75% by 2027, contingent on performance milestones and an additional $127 million investment.

Exaion is well known for developing high-performance computing (HPC) data centers and providing AI and cloud infrastructure, working with top firms like Nvidia and Deloitte. This acquisition marks a major move for MARA into the AI space, positioning Exaion for larger-scale international deployment to serve enterprise and public-sector clients. The deal is expected to close in Q4 2025, subject to regulatory approvals.

MARA’s CEO and chairman Fred Thiel stated, As data protection and energy efficiency become top priorities for both governments and enterprises, MARA and Exaion’s combined expertise would enable us to deliver secure and scalable cloud solutions built for the future of AI.

MARA expands into AI and high-performance computing

MARA’s move into AI comes as Bitcoin mining difficulty rises sharply, which has increased energy consumption and put pressure on profit margins for miners. With Bitcoin mining becoming more resource-intensive, miners need to adapt to efficient equipment or lower energy costs to remain profitable.

Although MARA is the largest Bitcoin miner by production, network hash rate, and market cap, it has been one of the last in the industry to make a significant push into AI. In an interview on Monday via X Spaces, Thiel explained that MARA deliberately chose not to enter the AI and HPC space in the early stages, opting instead to partner with Exaion, a company with expertise, a customer base, and a track record in AI and HPC data centers.

Thiel remarked, “Rather than trying to retrofit mining facilities, we’re investing in a partner who already has the expertise, has the customer base and has the track record in the space.” This strategic move allows MARA to expand quickly and intelligently into the AI market.

MARA faces rising competition in Bitcoin production

MARA’s production in July dipped to 703 Bitcoin, losing out to competitor IREN, which mined a record 728 Bitcoin in the same month. The decline in production for MARA was attributed to fewer machines being active for mining. However, MARA’s revenue rose 64% year-on-year to $238 million in Q2, and it still holds 50,000 Bitcoin, valued at nearly $6 billion, making it the second-largest Bitcoin treasury after Michael Saylor’s Strategy. Despite increased competition in Bitcoin production, MARA continues to strengthen its position in both the mining and AI sectors.