MARA to Acquire Majority Stake in EDF’s Exaion to Expand AI Business

MARA Holdings Inc. is set to finalize a $168 million deal to purchase a controlling stake in EDF’s Exaion, marking a significant move from Bitcoin mining into the artificial intelligence infrastructure sector. According to MARA’s SEC filing, its French subsidiary, MARA France SAS, will acquire 64% ownership of Exaion, a company specializing in high-performance computing and AI infrastructure. The transaction is expected to close in late 2025 or early 2026, pending regulatory approvals in France and Canada.

Strategic Investment to Grow AI Infrastructure

MARA will purchase 4.1 million newly issued shares of Exaion for approximately €115 million and acquire 1.2 million existing shares from EDF Pulse Holding and other minority shareholders for €33 million. An initial payment of €23 million will be made at closing, with an additional €10 million payable in 2027 contingent on Exaion meeting specified performance targets. This acquisition grants MARA a controlling interest in Exaion, allowing it to steer the company’s growth and strategic direction while maintaining EDF as a minority partner. Furthermore, MARA plans a second phase in March 2027 to increase its stake to roughly 75% by purchasing an additional 3.9 million shares for about €110 million. This phased approach ensures continuity between Exaion’s utility roots and its expanding role in technology.

Entering the AI Market with Focus on AI Inference

Exaion operates advanced high-performance computing data centers and cloud platforms designed to handle complex workloads such as AI applications and big data analytics. MARA’s acquisition aligns with its expertise in managing large-scale, energy-intensive computing operations. Unlike companies focused on training AI models, which require massive resources, MARA will concentrate on AI inference — running and utilizing pre-trained AI models to perform tasks. This approach leverages Exaion’s infrastructure to meet growing demand for AI computing power while emphasizing data sovereignty and compliance with regional data protection regulations.

New Revenue Streams Beyond Bitcoin Mining

The demand for AI-capable computing power is surging rapidly. MARA’s AI infrastructure services target a broad client base, differentiating it from competitors like Core Scientific and Hut 8, which primarily serve hyperscale cloud providers. By engaging directly with customers, MARA aims to offer customized computing and data solutions, potentially increasing profitability and control. Simultaneously, MARA continues its aggressive Bitcoin treasury strategy, having raised $950 million through equity and debt to acquire more Bitcoin while retaining all mined coins. Following the announcement of the Exaion deal, MARA’s market capitalization rose to $5.8 billion, with shares increasing 1.8% to $15.67 in New York trading. If completed, this acquisition positions MARA strongly in both the dynamic AI sector and the established cryptocurrency mining industry.

Source: Originally published at Cryptopolitan on August 12, 2025.

Frequently Asked Questions (FAQ)

About the Acquisition

Q: What is the main purpose of MARA's acquisition of Exaion? A: The primary goal is to expand MARA's business into the artificial intelligence infrastructure sector, leveraging Exaion's high-performance computing and AI infrastructure capabilities. Q: How much is the total value of the deal? A: The total value of the deal for MARA to acquire a majority stake in Exaion is $168 million. Q: What percentage of Exaion will MARA acquire? A: MARA will acquire a 64% ownership stake in Exaion initially, with plans to increase it to approximately 75% in a second phase. Q: When is the transaction expected to be completed? A: The transaction is anticipated to close in late 2025 or early 2026, pending regulatory approvals.

Exaion's Operations and MARA's Strategy

Q: What does Exaion specialize in? A: Exaion specializes in high-performance computing and AI infrastructure, operating advanced data centers and cloud platforms. Q: What is MARA's focus within the AI market? A: MARA plans to concentrate on AI inference, which involves running and utilizing pre-trained AI models, rather than AI training. Q: How does MARA's approach to AI infrastructure differ from competitors? A: MARA aims to differentiate itself by engaging directly with customers to offer customized computing and data solutions, emphasizing data sovereignty and regulatory compliance, unlike competitors who primarily serve hyperscale cloud providers. Q: What is MARA's strategy regarding Bitcoin mining and treasury? A: MARA continues to pursue an aggressive Bitcoin treasury strategy, raising funds to acquire more Bitcoin while retaining all mined coins.

Crypto Market AI's Take

MARA's strategic move to acquire a majority stake in Exaion signifies a pivotal shift for the company, moving beyond its Bitcoin mining roots into the burgeoning field of AI infrastructure. This diversification leverages MARA's expertise in managing energy-intensive computing operations and positions it to capitalize on the rapidly growing demand for AI computing power. By focusing on AI inference, MARA aims to provide specialized solutions that cater to data sovereignty and regional regulations, potentially opening up new, profitable revenue streams. This expansion into the AI sector, alongside its continued commitment to Bitcoin, reflects a forward-looking strategy to create a more robust and diversified business model. For insights into how AI is shaping other aspects of the cryptocurrency market, explore our AI Agents and AI Personal Finance sections.

Bitcoin miner MARA nears 68M EDF deal to power AI expansion