MARA Holdings Seeks New Revenue Streams Through AI Data Centers

MARA Holdings, a leading bitcoin miner, has made a significant move in its business strategy by partnering with Starwood Capital Group to develop artificial intelligence (AI) data centers across its U.S. sites.

The deal will convert existing MARA mining sites into facilities for enterprise cloud and AI customers, targeting over 1 gigawatt of IT capacity initially. This is a significant expansion of MARA's business scope, as it moves away from traditional bitcoin mining towards more lucrative AI infrastructure development.

The partnership with Starwood Capital Group will allow MARA to leverage its existing sites, which come with direct access to large power supplies - a rare and valuable commodity in the tech industry. As tech companies scramble to secure power for new AI infrastructure, MARA's assets have become increasingly attractive.