MARA Holdings is in advanced talks to acquire a majority stake in Exaion, a high-performance computing data center and AI infrastructure provider, from Electricite de France for $168 million. MARA plans to build out operations for AI inference and is also carrying out a Bitcoin treasury strategy to become a hedge-fund proxy to the cryptocurrency in the stock market.
MARA Holdings Inc., the largest Bitcoin miner, is in advanced negotiations to purchase a majority stake in Exaion, a high-performance computing data center and AI infrastructure provider, from Electricite de France SA (EDF) for approximately $168 million. The deal, if finalized, would see MARA acquire a 64% stake in Exaion, with an option to increase its ownership to 75% for an additional $127 million [1].
The acquisition aligns with MARA's strategic expansion into the artificial intelligence (AI) infrastructure sector. Exaion develops and runs high-performance computing data centers and provides cloud and AI infrastructure, making it an attractive target for MARA. While other top mining companies focus on providing data-center infrastructure for hyperscalers, MARA aims to build out operations specifically for AI inference, a critical part of AI data processing that typically requires lower overhead investment [2].
MARA's move into AI infrastructure comes as the company seeks to diversify its revenue streams beyond Bitcoin mining. The company is also carrying out a Bitcoin treasury strategy, buying billions of dollars in the digital asset through equity and debt financing while keeping mined tokens without any sales. This strategy aims to position MARA as a hedge-fund proxy to the cryptocurrency in the stock market [2].
Shares of MARA rose 1.8% to $15.67 in New York trading on July 2, 2025, giving the company a market value of about $5.8 billion, making it the largest Bitcoin miner by market value [2]. The acquisition of Exaion could further enhance MARA's market position and provide a significant boost to its revenue streams.
References:
[1] https://www.investing.com/news/stock-market-news/mara-holdings-in-talks-to-buy-majority-stake-in-exaion-from-edf--bloomberg-93CH-4183662
[2] https://www.bloomberg.com/news/articles/2025-08-11/bitcoin-miner-mara-said-to-near-168-million-deal-for-edf-unit
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