Bitcoin Mining Company MARA Invests $168 Million in French Firm Exaion to Capitalize on AI and High-Performance Computing
Bitcoin Mining Company MARA Holding Announces Acquisition of 64% Stake in Exaion
On August 11, Bitcoin mining company MARA Holding announced that it will spend $168 million to acquire a 64% stake in Exaion, a subsidiary of the French state-owned electricity company Électricité de France, officially entering the AI and high-performance computing (HPC) market.
$168 Million Investment in Exaion, Aiming for 75% Stake by 2027
According to the terms, MARA will initially invest $168 million to obtain a 64% stake in Exaion. Assuming Exaion’s performance meets the agreed-upon targets, MARA can invest an additional $127 million before 2027 to increase its stake to 75%.
The acquisition announcement was shared on MARA’s Twitter (X) account.
The completion of this 64% stake acquisition is expected around Q4 2025, contingent upon meeting the prerequisites outlined in the agreement and obtaining approval from relevant regulatory authorities. As for the subsequent increase to a 75% stake, that portion represents a future “optional” investment for MARA and is not included in the current Q4 timeline.
Stock Price Jumps After Acquisition News
After the news of the stake acquisition broke, the stock price rose by about 2% on the same day.
Exaion Specializes in HPC and AI Cloud Infrastructure, with Nvidia as a Partner
Exaion’s parent company, Électricité de France, is the largest electricity company in France and one of the world’s largest nuclear power producers, supplying approximately 70% of France’s electricity. Exaion specializes in developing and operating high-performance computing (HPC) data centers, providing AI and cloud infrastructure services, with partners including Nvidia and Deloitte, one of the Big Four accounting firms. MARA stated that this transaction will enable Exaion to expand into larger international markets, serving both corporate and public sector clients.
Mining Difficulty Soars, Mining Companies Expand AI Infrastructure
According to mining data site CoinWarz, the current mining difficulty for Bitcoin is nearly 50% higher than it was a year ago, requiring 42.8% more computing power to have a chance of mining it.
The chart shows that if mining one BTC last year required 90 trillion hashes, it now requires 129 trillion, meaning nearly a 50% increase in computational effort.
This means miners must invest more computing power and energy to maintain the same output. Given this situation, many mining companies have begun seeking additional revenue sources by extending their existing high-performance computing (HPC) infrastructure into the AI domain. For instance, Core Scientific has transformed from one of the largest Bitcoin mining companies in the U.S. to an AI infrastructure provider, starting to lease H100 GPUs to AI startups and research institutions.
MARA’s AI expansion plan comes at a time when Bitcoin mining difficulty has significantly increased, energy consumption has risen, and mining profits have been compressed. As the world’s leading Bitcoin miner in terms of production, computing power, and market value, MARA must accelerate its efforts to expand into AI to respond to rapid market changes.
MARA’s July Mining Output Surpassed by IREN, But Financial Report Shines
In July 2025, MARA mined 703 BTC, which was a 2% decrease from June, falling behind competitor IREN, which mined 728 BTC in the same month. MARA attributed the decline in output to power or seasonal factors, as some mines temporarily paused operations, reducing computing power. However, recently, mining operations have resumed, increasing total computing power, which led to an automatic adjustment of 9% in mining difficulty, making it harder for miners.
On the left is IREN, and on the right is MARA.
Despite this, MARA’s Q2 revenue for this year saw a year-on-year increase of 64%, reaching $238 million, and the company holds 50,000 BTC valued at nearly $6 billion, ranking second globally in Bitcoin reserves, only behind Michael Saylor’s MicroStrategy.
Risk Warning
Investing in cryptocurrencies carries a high level of risk, and their prices can be extremely volatile; you may lose your entire principal. Please assess the risks carefully.
