Leading Bitcoin mining entity, MARA Holdings, is aggressively venturing into artificial intelligence with a substantial $168 million investment. This strategic move secures them a commanding 64% ownership stake in Exaion, a division of Électricité de France (EDF), the French government-owned energy giant and a major player in low-carbon energy production globally.
Announced on Tuesday, the agreement also grants MARA the option to increase its ownership to 75% by the year 2027. This expansion would involve an additional investment of $127 million, contingent upon the achievement of specific performance targets.
MARA and @EDFofficiel have formally signed an investment agreement for Exaion, aiming to boost MARA’s global AI and HPC capabilities.
📄 Official Press Release: https://t.co/mH0z6X8NWK pic.twitter.com/HHUyRXQDEj
Exaion’s Collaboration with Nvidia
Exaion specializes in developing high-performance computing (HPC) data centers and providing AI and cloud infrastructure solutions. They maintain strategic partnerships with industry leaders such as Nvidia, a prominent AI technology provider, and Deloitte, one of the “Big Four” accounting firms.
MARA states that this agreement positions Exaion for an evolution towards broader international deployments, offering services to enterprise clients and the public sector.
The transaction is anticipated to be finalized in the fourth quarter, pending the satisfaction of standard regulatory approvals.
Fred Thiel, CEO and Chairman of MARA, commented, “With data protection and energy efficiency emerging as crucial priorities for both enterprises and government entities, the combined strengths of MARA and Exaion will enable us to create secure, scalable cloud solutions ideally suited for the future of AI.”
AI Push Amid Rising BTC Mining Difficulty
MARA’s diversification into AI occurs at a time when Bitcoin (BTC) mining difficulty is experiencing a substantial increase. This escalation raises energy consumption levels and places greater pressure on miner profitability unless they modernize with more efficient technology or reduce energy expenses.
While MARA holds the position of the largest Bitcoin miner based on Bitcoin production, network hashrate, and market capitalization, it has been a relative latecomer to the widespread movement of integrating AI technologies.
In remarks shared on Monday via X Spaces, Thiel explained that MARA consciously avoided joining the initial rush to expand into AI and HPC data center businesses.
“Rather than attempting to adapt existing mining infrastructure, we are investing in a partner that brings pre-existing expertise, an established customer base, and a proven performance record in this area,” the MARA head noted, emphasizing that “This enables us to advance swiftly, thoughtfully, and with credibility.”
New Competitor in BTC Production for MARA
During July, MARA mined 703 Bitcoin, falling short of IREN, a competitor firm that reported a company record of 728 Bitcoin in the same period. MARA’s lower production levels can likely be attributed to fewer active mining machines.
Nevertheless, MARA achieved a 64% year-over-year increase in revenue during the second quarter, reaching $238 million. The company also holds 50,000 Bitcoin, currently valued at nearly $6 billion, securing its position as the second-largest Bitcoin treasury, after Michael Saylor’s Strategy.