MARA Holdings, one of the largest Bitcoin
The $168 million deal will give MARA a 64% stake in the business, with the option to increase that to 75% by 2027 through another $127 million if certain goals are met.
The purchase is expected to close in the fourth quarter, pending regulatory approval.
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Exaion runs high-performance computing (HPC) data centers and provides infrastructure for artificial intelligence (AI) and cloud services. It works with companies such as Nvidia and Deloitte.
MARA stated that the partnership will help Exaion expand internationally to serve both corporate and public-sector clients.
MARA’s CEO and chairman, Fred Thiel, said the acquisition is about combining strengths in energy efficiency and data protection to deliver secure, scalable cloud solutions designed for AI needs.
Thiel explained on X Spaces that MARA chose not to rush into the AI and HPC market. Instead of adapting its mining facilities, the company is partnering with an existing player that already has customers, expertise, and a track record in the field.
He said this approach will allow MARA to move into the market “quickly, intelligently and credibly”.
Recently, JPMorgan Chase announced a partnership with the crypto exchange Coinbase
$2.18B
