MARA acquires EDF's Exaion for $168M, expanding into AI infrastructure

Bitcoin mining leader Mara Holdings Inc. has finalized an agreement to acquire a controlling stake in Exaion, a unit of French utility giant Electricite de France SA. This strategic move signals Mara’s ambition to expand beyond cryptocurrency mining and establish itself as a key infrastructure provider in the burgeoning field of artificial intelligence.

Under the terms of the deal, Hallandale Beach, Florida-based Mara will pay approximately $168 million in cash for a 64% interest in Exaion. The acquisition is being made from EDF Pulse Ventures, the venture capital arm of the state-owned French energy group. The agreement, announced Monday, confirms earlier reports by Bloomberg News.

Furthermore, Mara retains an option to raise its ownership in Exaion to 75% through an additional investment of $127 million, subject to the fulfillment of specified conditions. Electricite de France will maintain a minority stake in Exaion following the transaction.