MARA to Acquire Majority Stake in Exaion in $168M AI and HPC Expansion
MARA Holdings, the world’s largest publicly traded Bitcoin miner by production, hash rate, and market cap, has announced its most significant move into artificial intelligence and high-performance computing (HPC) to date.
The company signed a $168 million agreement to acquire a 64% stake in Exaion, a subsidiary of French state-owned energy giant Électricité de France (EDF), one of the largest producers of low-carbon electricity globally.
The deal includes an option for MARA to increase its ownership to 75% by 2027 through an additional $127 million investment, contingent on performance milestones. The acquisition is expected to close in Q4 2025, pending regulatory approvals.
Today, MARA and @EDFofficiel signed an investment agreement in subsidiary Exaion to expand MARA’s global AI/HPC capabilities.
📄 Read the press release: https://t.co/mH0z6X8NWK pic.twitter.com/HHUyRXQDEj
— MARA (@MARA) August 11, 2025
Exaion Partners with Nvidia and Deloitte
Exaion specializes in developing HPC data centers and delivering AI and cloud infrastructure solutions in partnership with leading technology and consulting firms, including Nvidia and Deloitte.
Following the deal, Exaion will focus on expanding internationally to serve enterprise and public-sector clients.
“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,” said MARA CEO and Chairman Fred Thiel.
Strategic AI Move Amid Rising BTC Mining Difficulty
The expansion into AI and HPC comes as Bitcoin mining difficulty hits record highs, increasing operational costs and pressuring miner margins unless offset by more efficient equipment or lower energy costs.
While many mining companies have already diversified into AI and HPC, Thiel said MARA “deliberately chose not to be in the first wave” of such expansions.
“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. It allows us to move quickly, intelligently, and credibly,” he said during an X Spaces session on Monday.
MARA’s Competitive Landscape
In July, MARA mined 703 BTC, trailing rival IREN, which set a company record with 728 BTC. The dip in MARA’s production was attributed to fewer active mining rigs.
Despite the slight drop in output, MARA’s Q2 2025 revenue surged 64% year-on-year to $238 million. The company still holds 50,000 BTC (valued at nearly $6 billion), making it the second-largest corporate Bitcoin treasury behind Michael Saylor’s Strategy.
