MARA's 15% Surge: 2 GW Texas Deal Elevates AI and Bitcoin Plans
By John Nada·Jul 9, 2026·4 min read
MARA Holdings' shares jumped 15% after acquiring a 2 GW Texas site for AI and Bitcoin, doubling its power capacity.
Bitcoin miner MARA Holdings didn't just see its shares rise; they soared by 15% early Thursday, buoyed by the announcement of a strategic acquisition in Texas. The company plans to transform a 1,200-acre site in Matagorda County, near Houston, into a digital infrastructure campus—balancing the weight of AI computing and Bitcoin mining.
The site in Matagorda County is strategically positioned approximately 90 miles southwest of Houston, a location that offers logistical advantages for both energy access and connectivity. The project is slated to develop in phases, with the first phase providing an initial 1 gigawatt (GW) of grid capacity by October 2027, and a subsequent increase to 2 GW by April 2028. This ambitious development will more than double MARA's potential power capacity, significantly increasing it to 4.8 GW, further cementing its status as a major player in the digital infrastructure sphere.
HIF USA, a partner in this venture, will retain a minority stake in the project if MARA secures a lease with a high-performance computing tenant. This partnership reflects a growing trend in the Bitcoin mining industry where collaborations are formed to leverage shared resources and expertise. The companies have not disclosed the financial terms of the transaction, leaving analysts and investors alike curious about the underlying financial implications.
The expansion into Texas underscores MARA's aggressive strategy to diversify and scale its operations. Earlier in April, MARA acquired Long Ridge Energy & Power, which added a 505-megawatt gas-fired power plant and a co-located data center in Ohio to its existing portfolio. This $1.5 billion transaction was a significant step in MARA's strategy to integrate energy production with high-performance computing capabilities.
Additionally, MARA's acquisition of a 64% stake in French computing infrastructure operator Exaion earlier this year highlights the company's global approach to expanding its technological and operational capabilities. By acquiring interests in diverse geographical markets, MARA is positioning itself to take advantage of varying regulatory environments and technological advancements.
MARA is the fourth-largest publicly traded corporate holder of Bitcoin (BTC), with 36,303 BTC, according to data from BitcoinTreasuries.NET. This substantial holding solidifies MARA's commitment to the Bitcoin ecosystem and its continued influence in the sector.
The shift towards integrating AI and high-performance computing into traditional Bitcoin mining operations is driven by the burgeoning demand for data center capacity. Companies like MARA are leveraging existing power infrastructures, traditionally built to support BTC mining, to transition into AI-ready data centers. This is a calculated move, given the substantial investment required to convert these mining sites. CoinShares estimates that while mining infrastructure typically costs $700,000 to $1 million per megawatt (MW), liquid-cooled AI infrastructure can demand between $8 million to $15 million per MW, making it a resource-intensive endeavor.
Despite the high costs, the potential returns are drawing significant interest. Several publicly traded miners have announced lucrative AI infrastructure agreements in recent months. For instance, Core Scientific expanded its hosting agreement with CoreWeave to exceed $10 billion, a testament to the lucrative nature of these AI infrastructure endeavors.
Investors have broadly rewarded these strategic pivots. When Hut 8 announced its 15-year, $7 billion data center lease with Fluidstack, its shares jumped about 20%. This pattern indicates a shifting valuation trend where companies intertwining AI contracts with BTC mining gain higher valuation multiples than those focused solely on Bitcoin production.
TeraWulf, another player in the Bitcoin mining sector, recently reported billions of dollars in contracted HPC revenue. Its shares rose about 12% following the announcement of a 20-year AI data center lease with Anthropic, which is expected to generate approximately $19 billion in contract revenue. These significant revenue projections from long-term AI infrastructure commitments highlight the substantial financial opportunities available in this evolving market.
MARA's position in the CoinShares Bitcoin Mining ETF, holding 4.76% of assets, places it as the sixth-largest player in the sector. This strategic positioning within the ETF reflects MARA's robust influence and competitive stance in the growing Bitcoin and AI infrastructure markets. WGMI shares, which are part of this ETF, rose more than 5% in early afternoon trading on Thursday, signaling investor confidence in MARA's strategic direction.
The pivot to AI infrastructure isn't just a hedge; it's diversification—a calculated leap into an expansive market. As MARA navigates the regulatory landscape necessary for this ambitious project, questions linger about whether its strategic roadmap might redefine the terrain of digital infrastructure. The integration of AI and high-performance computing within traditional Bitcoin mining frameworks is a testament to the industry's adaptability and foresight in addressing emerging technological trends.