MARA Holdings Pivots Towards AI Data Centers with Starwood Partnership

MARA Holdings, a bitcoin miner, has announced a significant partnership with Starwood Capital Group to develop AI data centers across its U.S. sites.

The joint platform is expected to deliver over 1 gigawatt of IT capacity in the initial development phase and could extend beyond 2.5 gigawatts over time.

This move comes as MARA pivots away from Bitcoin mining, which has seen squeezed margins due to rising power costs, falling bitcoin prices, and increasing competition.