MARA shares surge after 2 GW Texas infrastructure deal expands AI ambitions

The Bitcoin miner's shares climbed about 15% after announcing it's acquiring a Texas site with up to 2 GW of power capacity to expand its AI and digital infrastructure strategy.

Bitcoin miner MARA Holdings shares rose about 15% in early trading Thursday after the company announced plans to acquire a Texas powered-land site with access to up to 2 gigawatts of electricity for AI computing and Bitcoin mining.

The 1,200-acre site in Matagorda county, about 90 miles southwest of Houston, is expected to provide access to an initial 1 GW of grid capacity by October 2027 and up to 2 GW by April 2028. MARA said it plans to develop the site as a digital infrastructure campus supporting both high-performance computing and Bitcoin mining.

Upon full energization, the site is expected to more than double the Bitcoin (BTC) miner's potential power capacity to about 4.8 GW. HIF USA will retain a minority ownership stake in the project if MARA signs a lease with a high-performance computing tenant, according to the companies. The companies did not disclose financial terms of the transaction.

Read more