MARA Acquires 64% Stake in EDF’s Exaion for $168M

MARA Holdings is making a major strategic pivot by acquiring a 64% stake in Exaion, a subsidiary of French state-owned Électricité de France, for $168 million, with an option to increase its ownership to 75% by 2027 through an additional $127 million investment. Exaion specializes in high-performance computing (HPC) data centers and AI cloud infrastructure, partnering with firms like Nvidia and Deloitte, positioning MARA to expand into scalable cloud and AI solutions beyond its traditional Bitcoin mining operations. This acquisition aims to leverage MARA's expertise in energy management and large-scale operations while tapping into the growing digital infrastructure sector to reduce its dependence on the volatile cryptocurrency market. Analysts have responded positively, with an 'Outperform' consensus rating and a projected upside in MARA's stock price, reflecting confidence in the company's growth and innovation prospects. The deal, expected to close in the fourth quarter pending approvals, illustrates a broader industry trend of crypto companies diversifying into AI and HPC to mitigate risks and capitalize on the rising demand for advanced computing capabilities. MARA's CEO highlighted the importance of energy efficiency and data protection in delivering future-ready AI cloud solutions through this partnership.