MARA Expands into AI with Acquisition of Majority Interest in Exaion
MARA purchases a 64% share in Exaion, aiming to enhance its position in AI and cloud computing amidst changing trends in Bitcoin mining.
MARA Holdings has finalized the acquisition of a controlling interest in Exaion, a French computing infrastructure company, marking its entry into artificial intelligence (AI) and cloud services. The transaction, first negotiated in August 2025 with EDF Pulse Ventures, now gives MARA France a 64% stake in Exaion following the necessary regulatory approvals.
The French energy enterprise, EDF, will continue as a minority stakeholder and a customer of Exaion. This investment establishes a larger partnership, as NJJ Capital, led by telecom entrepreneur Xavier Niel, will also purchase a 10% share in MARA France.
Governance and Management
The governance of Exaion will reflect the new ownership configuration, with the company’s board comprising three members from MARA, three from EDF Pulse Ventures, and one representative from NJJ, along with the chief executive officer and co-founder of Exaion. Both Niel and MARA’s CEO Fred Thiel will hold board seats.
Shift Towards AI in Bitcoin Mining
As Bitcoin mining faces economic pressures, companies are increasingly looking towards AI and data center solutions. Following the 2024 halving, which reduced block rewards, many publicly traded mining operations have adopted a hybrid approach, blending traditional Bitcoin mining with more stable revenues from AI cloud services and high-performance computing.
For instance, HIVE Digital Technologies has shown impressive results despite declining Bitcoin prices, thanks to its expanding AI operations. Similarly, CoreWeave has transitioned from crypto mining to become a significant AI infrastructure provider in light of decreased GPU mining demand.
Other companies such as TeraWulf, Hut 8, and MARA are repurposing their mining facilities into AI data centers, responding to the shifting landscape of the cryptocurrency market. In a previous announcement, CleanSpark indicated plans to raise about $1.13 billion to fund the expansion of its Bitcoin mining and data center operations.
Bitcoin Mining Difficulty Surge
Recently, Bitcoin’s mining difficulty climbed roughly 15% to 144.4 trillion, recovering from an earlier drop of 11% that followed severe winter outages in the United States. While the increased difficulty enhances Bitcoin’s security, it also raises the computational demands required to mine new blocks, further straining miners already facing rising costs.
