MARA Holdings (NASDAQ:MARA) has agreed to pay $168M in cash for a 64% stake in Exaion from EDF Pulse Ventures, the venture division of French utility firm Electricite de France SA, the companies said Monday.

The company’s SEC filing says MARA’s French unit, MARA France SAS, will buy new and existing shares to own 64% of Exaion, a high-performance computing and AI infrastructure firm. The deal should close in late 2025 or early 2026, once regulators in France and Canada approve it.

Marathon Digital Holdings (MARA) has acquired a majority stake in energy firm EDF’s data center and cloud subsidiary, Exaion. The crypto company and EDF Pulse Ventures, the corporate venture of EDF, this week announced the signing of an investment agreement allowing MARA to acquire a 64 percent stake in Exaion.

MARA Holdings, the world’s largest Bitcoin mining firm, has made its biggest AI play yet, signing a $168 deal to acquire 64% of HPC data center and AI infrastructure firm Exaion.

Bitcoin miner MARA to acquire EDF’s Exaion in a $168M deal, targeting AI inference and advanced data infrastructure growth.

MARA Holdings (MARA) is making a surprise pivot from its bitcoin (BTC) mining roots, announcing late Monday that it will acquire a 64% stake in Exaion, a high-performance computing (HPC) subsidiary of French energy giant EDF,

MARA, which supports the energy transformation, by converting clean, stranded or otherwise underutilised energy into economic value, will invest around $168m to buy the stake

MARA to buy 64% of EDF’s Exaion for $168M, expanding into AI infrastructure with a focus on cost-efficient inference services.

MARA Holdings Inc. has agreed to acquire a majority stake in Exaion from Electricite de France SA as the largest Bitcoin miner looks to extend its reach into artificial intelligence as an infrastructure provider.