Key Highlights
- MARA shares jumped 11% after the company announced plans to acquire a 1,200-acre powered site in Texas.
- The Texas site is expected to provide up to 2 GW of electricity to support AI computing and Bitcoin mining by 2028.
- The acquisition could more than double MARA’s potential power capacity to about 4.8 GW.
MARA Holdings (NASDAQ: MARA) shares climbed about 11% in early trading on Thursday after the Bitcoin mining company announced plans to acquire a large powered-land site in Texas that it plans to use for both Bitcoin mining and artificial intelligence (AI) computing.
According to the official release, this new site, located in Matagorda County about 90 miles southwest of Houston, is expected to provide up to 2 gigawatts (GW) of electricity by 2028, making it one of MARA’s largest infrastructure projects to date.
The company is acquiring the 1,200-acre property from HIF USA. According to MARA, the site is expected to receive an initial 1 GW of grid power by October 2027 before expanding to 2 GW by April 2028. MARA said it plans to turn the property into a digital infrastructure campus that can support both high-performance computing (HPC), which powers AI applications, and Bitcoin mining. Although the companies confirmed the deal, they did not reveal its financial value.
Investors react to the announcement
The announcement was welcomed by investors. The stock surged more than 11% during Thursday’s trading session, with the stock climbing to $13.35, up $1.33 on the day.
The stock traded relatively flat in early trading before gaining momentum after the announcement. Shares climbed above $14.20 intraday before trimming some gains, though they continued to hold an increase of over 11% by mid-afternoon.
The company has increasingly focused on building energy infrastructure instead of relying only on Bitcoin mining. Having access to large amounts of electricity has become important because both AI data centers and Bitcoin mining operations require huge amounts of power to run.
If the Texas project is completed as planned, MARA said its total potential power capacity will grow to about 4.8 GW. That would more than double the company’s current capacity and give it more room to expand its business in the coming years.
HIF USA will also keep a minority ownership stake in the project if MARA signs a lease agreement with a high-performance computing customer.
CEO outlines long-term vision
MARA Chairman and Chief Executive Officer Fred Thiel said the acquisition fits the company’s long-term infrastructure strategy as demand for computing capacity continues to grow.
“This transaction advances our strategy of securing strategically located infrastructure assets capable of supporting high-performance compute and Bitcoin workloads,” Thiel said. “As demand for digital infrastructure continues to grow, we believe sites with access to reliable, scalable power will become increasingly valuable.”
He added that the acquisition expands MARA’s long-term development pipeline and strengthens its ability to support high-performance computing while maximizing the value of its power assets over time.
Recent deals strengthen MARA’s infrastructure
The Texas acquisition is the latest in a series of expansion moves by MARA. In April, the company announced plans to acquire Long Ridge Energy & Power in a deal worth about $1.5 billion. That transaction added a 505-megawatt gas-fired power plant and a data center in Ohio to MARA’s growing energy portfolio. Earlier this year, the company also bought a 64% stake in French computing infrastructure operator Exaion.
According to BitcoinTreasuries.NET, MARA currently owns 36,303 Bitcoin, making it the fourth-largest publicly traded company holding the cryptocurrency.
Bitcoin miners expand into AI infrastructure
The deal also highlights a growing shift across the Bitcoin mining industry. More mining companies are moving into AI and high-performance computing because they already own valuable power infrastructure. Instead of using that power only for Bitcoin mining, many companies are now expanding into AI services as demand for data centers continues to rise.
Companies such as Core Scientific, Hut 8, and TeraWulf have announced similar AI-related projects in recent months, with investors responding positively to many of those moves.
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