MARA Holdings Inc. is set to sign a $168 million deal to acquire a controlling stake in the French company Exaion, marking a significant shift from Bitcoin mining to artificial intelligence.
Deal Details
According to the company's SEC filing, MARA's French unit, MARA France SAS, will buy new and existing shares of Exaion, giving it a 64% controlling interest. The deal is expected to close in late 2025 or early 2026, pending regulatory approval in France and Canada.
Shift to AI Infrastructure
With this acquisition, MARA is poised to transform from a major Bitcoin miner to a key player in the AI infrastructure sector. The company's expertise in managing large-scale computing operations positions it well to capitalize on the rapidly growing AI market while maintaining a connection to Exaion's legacy as a utility provider.
Market Prospects and Impact
The demand for computing power for AI applications is soaring, and MARA is targeting AI services that can be provided to a broader client base. This strategy enables the company to maintain greater control and offer tailored solutions for client needs. The deal with Exaion also increased MARA's market capitalization to $5.8 billion.
The acquisition of Exaion will be a crucial step for MARA Holdings Inc. in its efforts to expand into the artificial intelligence sector and reduce dependence on the volatile revenues from Bitcoin mining.
