- MARA is set to acquire 64% of EDF’s Exaion for $168M, with an option to expand to 75% for $127M more.
- The shift targets AI inference services, leveraging MARA’s infrastructure and energy management strengths.
- Deal could transform MARA into a dual-force in Bitcoin and AI infrastructure, boosting long-term growth potential.
MARA Holdings Inc. is gearing up for one of its most ambitious plays yet — a $168 million deal to snag a majority stake in EDF’s Exaion. This isn’t just another crypto miner buying more rigs; it’s a signal that MARA is leaning hard into artificial intelligence infrastructure. According to SEC filings, the acquisition would secure MARA 64% of Exaion, with the option to bump that up to 75% for another $127 million if certain conditions click into place. EDF, through its Pulse Ventures arm, would hang onto a minority slice of the French high-performance computing firm.
From Mining Blocks to Powering AI
Exaion isn’t your average data company. It builds and runs high-performance data centers, cloud platforms, and AI infrastructure, focusing on sovereign data solutions — meaning companies keep control over their sensitive info. MARA’s angle here is to double down on AI inference services, the lighter but still lucrative side of AI processing. While rivals like Core Scientific and Hut 8 are busy catering to hyperscale cloud giants, MARA’s chasing a more direct route into AI adoption, leveraging its existing operational strengths in energy management and infrastructure.
AI Gold Rush Meets Crypto Muscle
The AI sector is attracting tens of billions in investment, and miners are circling for their cut. With demand for computing power stretching global capacity, companies like MARA have a unique edge — they already control energy resources and understand scale. On top of this AI push, MARA hasn’t stepped back from its Bitcoin strategy. It’s actively building a BTC treasury, holding onto every coin it mines and recently raising $950 million to add more. The goal? Become a stock market proxy for Bitcoin, much like Michael Saylor’s MicroStrategy. Shares nudged up 1.8% to $15.67 in New York, giving the company a $5.8 billion valuation.
A Potentially Defining Shift
If this deal lands, it could mark a turning point for MARA — evolving from the world’s largest Bitcoin miner into a broader infrastructure powerhouse, straddling both crypto and AI. The combination of mining expertise, energy efficiency, and high-performance computing capabilities could position MARA in the sweet spot of two of the most high-growth industries on the planet. Whether the move delivers depends on execution, but the market is already paying attention.
