MARA jumps 18% as Bitcoin miner acquires Texas powered land site for $600 million

MARA (NASDAQ: MARA) said connected Thursday that a subsidiary had acquired a power-backed onshore tract successful Matagorda County, Texas, with rights associated with up to 2,000 MW of capacity. The property, astir 90 miles southwest of Houston, covers much than 1,200 acres and is slated for a integer infrastructure field that tin enactment AI/HPC workloads, flexible compute, and Bitcoin mining.

Shares of MARA traded up 18% successful aboriginal greeting hours connected the quality astatine $14.18.

The woody closed connected July 2, 2026, erstwhile MARA's subsidiary Volt Texas, LLC bought the rank interests of MAT 1177 LLC from HIF USA LLC. After afloat energization, MARA said the tract should assistance its portfolio powerfulness capableness to astir 4.8 GW, much than doubling it, including the antecedently announced Long Ridge Energy & Power transaction.

If each improvement milestone is reached, the maximum aggregate acquisition terms is $600 million. The payments beryllium connected regulatory approvals, the tract nether declaration being acquired, support to person power, and signing a information halfway lease with a third-party tenant. The seller besides keeps a number involvement erstwhile that lease is signed. At the afloat 2 GW and the afloat $600 cardinal milestone path, the implied outgo works retired to astir $300,000 per MW.

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Construction successful phases is expected to commencement successful 2026, pending regulatory approvals. The tract is expected to person entree to arsenic overmuch arsenic an archetypal 1 GW of grid capableness by October 2027 and up to 2 GW by April 2028. MARA is gathering retired the field with Starwood Digital Ventures and said the tract has already drawn involvement from imaginable HPC tenants.

"This transaction advances our strategy of securing strategically located infrastructure assets susceptible of supporting high-performance compute and bitcoin workloads," Fred Thiel, president and CEO, said successful a institution release. "As request for integer infrastructure continues to grow, we judge sites with entree to reliable, scalable powerfulness volition go progressively valuable."

Renato Pereira, CEO of HIF USA, said the institution has issued announcement to proceed with operation connected the switchyard that volition link the tract to the grid. "We are pleased to invited MARA to our semipermanent concern with Matagorda County, accelerating our committedness to economical concern and jobs for Texans," Pereira said.

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The powerfulness rights stem from an LOA with an electrical inferior institution covering the afloat 2,000 MW of capacity. MARA said the acquisition broadens its semipermanent improvement pipeline and gives it much options for utilizing that powerfulness implicit time.