Bitcoin miner MARA mulls buying $168-million stake in French data firm: Bloomberg
Quick Take Bitcoin miner MARA is reportedly mulling a $168-million investment in Exaion, a French firm that both develops and runs data centers while also providing cloud and artificial intelligence infrastructure. MARA would become a majority shareholder in Exaion.
Bitcoin miner MARA Holdings may spend $168 million to acquire a majority stake in a French data firm, Bloomberg reported on Monday, citing anonymous sources.
If the transaction moves forward, MARA will pay $168 million in cash to secure a 64% stake in Exaion from EDF Pulse Ventures, according to the report . Exaion develops and runs data centers while also providing cloud and artificial intelligence infrastructure.
"While other top mining companies including Core Scientific Inc. and Hut 8 Corp., are focused on providing data-center infrastructure for so-called hyperscalers, MARA plans to build out operations for AI inference, which is a specific part of AI data processing that tends to require lower overhead investment," Bloomberg said.
MARA could potentially increase its stake in Exaion to 75% for an additional $127 million. EDF plans to remain a minority shareholder.
Along with an industry shift towards artificial intelligence and high-performance compute, crypto miners continue to recover profitability from the fourth Bitcoin halving in April 2024.
MARA has also recently leaned into a Bitcoin treasury strategy. It raised approximately $940.5 million to help buy more Bitcoin.
Less than two weeks ago, MARA reported its adjusted EBITDA had skyrocketed over 1,000% year on year. In the second quarter of this year, MARA earned $808.2 million, compared to a net loss of nearly $200 million in the prior-year quarter.
The company is the largest bitcoin miner by market cap and the second-largest corporate BTC holder after Strategy.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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