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Bitcoin Miner MARA Holdings Purchases 64% of AI and HPC Firm Exaion

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Analyst Sees a Bitcoin Market Shift — Here’s What’s Happening
Analyst Sees a Bitcoin Market Shift — Here’s What’s Happening

Bitcoin miner MARA Holdings is making its biggest AI play to date, signing a $168 million deal to buy a 64% stake in Exaion, a subsidiary of French state-owned Électricité de France, one of the world’s largest low-carbon energy producers.

This agreement is not binding. announced On Tuesday, MARA announced an increase in its stake from 75% to 75% with an extra $127 million, subject to performance targets.

Exaion and Nvidia

Exaion is a high-performance data center provider and AI/cloud infrastructure developer in partnership, for example with AI powerhouse Nvidia or Big Four accounting firm Deloitte.

MARA reported that this agreement allows Exaion the opportunity to expand its international operations to provide services to enterprise clients and government agencies.

This transaction should close during the fourth quarter of this year, pending all necessary approvals.

Fred Thiel is MARA’s chairman and CEO. “As data protection and energy efficiency become top priorities for both governments and enterprises, MARA and Exaion’s combined expertise would enable us to deliver secure and scalable cloud solutions built for the future of AI.”

BTC mining becomes more difficult, AI will expand.

MARA’s AI growth comes at a time when Bitcoin has risen dramatically (BTC) mining difficultyIf they don’t adapt to lower energy prices or more energy efficient equipment, the pressure will be on their profitability margins.

MARA, the world’s largest Bitcoin mining company by production of Bitcoins. network hash rateThe company has a large market capitalization, but is one of the few players to have made a major push in AI.

Related: Michael Saylor is not sweating the rise of Ethereum treasury companies

Thiel made additional remarks on Monday through X Spaces. noted MARA “deliberately chose not to be in the first wave” Expansion into AI and HPC data center businesses Like other Bitcoin miners.

“Rather than trying to retrofit mining facilities, we’re investing in a partner who already has the expertise, has the customer base and has the track record in the space,” MARA’s boss added that “it allows us to move quickly, intelligently and credibly.”

MARA’s BTC competitor is now MARA

In July, MARA mined 703 Bitcoin — a rare loss to competitor firm IREN, which posted a company record 728 Bitcoin in the same month. MARA’s production drop was probably due to fewer Bitcoin-mining machines.

MARA has seen its effectiveness. revenue rise 64% year-on-year The second quarter saw a rise of $238 millions, and it holds nearly $6 billion worth of Bitcoin.

Magazine: US risks being ‘front run’ on Bitcoin reserve by other nations: Samson Mow