Bitcoin miner MARA to acquire majority stake in Exaion in AI, HPC play

MARA Holding’s expansion into AI and high-performance computing is expected to close in Q4, and comes amid a steep rise in Bitcoin mining difficulty.

Bitcoin miner MARA Holdings is making its biggest AI play to date, signing a $168 million deal to buy a 64% stake in Exaion, a subsidiary of French state-owned Électricité de France, one of the world’s largest low-carbon energy producers.

The agreement, announced on Tuesday, includes an option for MARA to raise its stake to 75% by 2027 with an additional $127 million investment, contingent on performance milestones.

Exaion develops high-performance computing (HPC) data centers and provides AI and cloud infrastructure in partnership with the likes of AI heavyweight Nvidia and Big Four accounting firm Deloitte.

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