MARA Holdings has signed a $168 million deal to acquire a 64% stake in Exaion, which develops high-performance computing (HPC) data centers and provides AI and cloud infrastructure. The acquisition, expected to close in Q4 2025, includes an option to increase ownership to 75% by 2027 with additional investment linked to performance milestones. MARA CEO Fred Thiel emphasized that this move aligns with the growing importance of data protection and energy efficiency for clients across both public and private sectors. This strategic expansion into AI comes as Bitcoin mining profitability faces challenges due to increasing mining difficulty, driving higher energy costs. In July, MARA produced 703 Bitcoin, reflecting a drop in active machines but still holds nearly $6 billion in Bitcoin, making it one of the largest companies in the industry. Thiel notes that rather than retrofitting existing facilities, investing in Exaion allows for a more agile and credible entry into the AI space, leveraging the expertise and existing customer base of Exaion.

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