MARA Acquires Exaion, Expands AI and Cloud Footprint

BTC1,44%
HIVE2,6%
  • MARA now owns 64% of Exaion, with EDF staying as client and NJJ Capital joining as a strategic partner.

  • Bitcoin miners shift to AI and cloud services to offset tighter margins after 2024 halving and rising network difficulty.

  • Mining difficulty surged 15% after storms, showing crypto volatility while firms invest heavily in AI data centers.

MARA Holdings is accelerating its push into artificial intelligence and cloud computing by acquiring a majority stake in French data center operator Exaion. The deal, first agreed in August 2025 with EDF Pulse Ventures, gives MARA France a 64% stake after securing all regulatory approvals, the Bitcoin miner announced on Friday. French energy giant EDF will remain a minority shareholder and continue as a client.

Additionally, NJJ Capital, the investment arm of telecom entrepreneur Xavier Niel, will acquire a 10% stake in MARA France, creating a broader strategic partnership. MARA CEO Fred Thiel and Xavier Niel will both join Exaion’s board, alongside representatives from EDF Pulse Ventures and MARA, ensuring governance reflects the new ownership structure.

Bitcoin Miners Pivot to AI Amid Economic Pressure

Bitcoin mining companies are increasingly shifting toward AI and high-performance computing as traditional mining faces margin pressures. After the 2024 halving reduced block rewards and rising network difficulty squeezed profits, several miners now pursue hybrid models.

Hence, mining remains a cash-flow engine, while AI cloud operations provide more stable revenue. HIVE Digital Technologies reported strong results even during weaker Bitcoin prices, backed by expanding AI services.

CoreWeave similarly pivoted from GPU mining to become a major AI infrastructure provider. Moreover, firms such as TeraWulf, Hut 8, IREN, and MARA are repurposing mining facilities and energy capacity into AI data centers, signaling a broader industry trend.

Energy, Infrastructure, and Market Dynamics

The transition also coincides with volatile Bitcoin network conditions. Mining difficulty rose roughly 15% to 144.4 trillion on Friday, reversing an earlier 11% drop triggered by winter storms that disrupted U.S. power grids. Consequently, many miners went temporarily offline, sharply reducing hash rates.

Additionally, CleanSpark announced plans to raise up to $1.28 billion through a senior convertible note offering to expand its mining and data center operations. This combination of infrastructure investments and capital inflows highlights the growing convergence of crypto mining and AI computing.

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