MARA shares jump on 2 GW Texas deal
- MARA Holdings shares rose about 15% after announcing a Texas infrastructure project with up to 2 GW of power capacity.
- The site will support both AI computing and Bitcoin mining as MARA expands its digital infrastructure business.
- The company said the project could more than double its total power capacity to about 4.8 GW.
MARA Holdings shares climbed about 15% after the company announced plans to acquire a Texas site with access to up to 2 gigawatts of electricity.
The 1,200-acre site will support artificial intelligence computing and Bitcoin (CRYPTO:BTC) mining, with the first 1 GW expected by October 2027.
MARA said the site could reach 2 GW by April 2028 and increase its total power capacity to about 4.8 GW, subject to regulatory approvals.
The company did not disclose the financial terms of the deal and said construction will be completed in stages over several years.
MARA has expanded its AI strategy this year through the Long Ridge Energy acquisition and its purchase of a 64% stake in French infrastructure company Exaion.
Bitcoin miners continue investing in AI data centres, with companies such as Core Scientific, Hut 8 and TeraWulf also signing major AI infrastructure agreements.
At the time of reporting, Bitcoin price was $63,219.85.
