MARA Holdings Acquires 1,200-Acre Texas Site for Expanded Mining and Computing Operations

MARA Holdings (NASDAQ: MARA), a Bitcoin mining company, has announced plans to acquire a 1,200-acre powered site in Texas, marking its largest infrastructure project to date. The site, located about 90 miles southwest of Houston, is expected to provide up to 2 GW of electricity by 2028 and will support both AI computing and Bitcoin mining.

The acquisition more than doubles MARA's potential power capacity to around 4.8 GW, making it a significant move for the company in its expansion plans. According to CEO Fred Thiel, the deal 'advances our strategy of securing strategically located infrastructure assets capable of supporting high-performance compute and Bitcoin workloads.'

The Texas project is part of MARA's growing energy portfolio, which includes the recent acquisition of Long Ridge Energy & Power and a 64% stake in Exaion. The company has been expanding its operations beyond Bitcoin mining to high-performance computing, a trend seen among other mining companies such as Core Scientific and Hut 8.

The stock surged over 11% following the announcement, with investors responding positively to the move. MARA currently owns around 36,303 BTC, making it one of the largest publicly traded holders of the cryptocurrency.