Bitcoin Miner MARA Expands AI Infrastructure With Texas Site Acquisition, Stock Price Surges

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Managing Editor (News)

Expertise : Crypto, Stocks, Tokenization, AI, Prediction Markets, Crypto Regulation

Boluwatife Adeyemi is a well-experienced crypto news writer and editor with a focus on macro topics, crypto policy and regulation and the intersection between DeFi and TradFi. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.

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MARA Acquires Texas Land Site, Stock Price Surges

In a press release, the Bitcoin miner announced that it has entered into a definitive agreement under which it will acquire from HIF a large-scale powered land site in Texas. “The site encompasses more than 1,200 acres and is expected to provide access to up to an initial 1 GW of grid capacity by October 2027 and up to 2 GW by April 2028,” the release read.

This comes as MARA continues to expand its AI infrastructure, pivoting from just Bitcoin mining. Notably, this latest purchase comes just months after the miner acquired Long Ridge Energy & Power in a $1.5 billion deal.

Meanwhile, the firm noted that the Texas site is well-positioned to support the development of next-generation, efficient digital infrastructure and has already attracted interest from potential High-Performance Computing (“HPC”) tenants.

MARA is one of many BTC miners pivoting into the AI industry. As CoinGape reported, miner TeraWulf recently signed a 20-year data center lease with AI firm Anthropic, a deal the firm said could generate nearly $19 billion in revenue.

Plans For The Texas Site

MARA said it intends to develop the site, through its partnership with Starwood Digital Ventures, into a large-scale digital infrastructure campus capable of supporting high-performance computing workloads and flexible compute operations. This will notably include Bitcoin mining.

Meanwhile, the firm revealed that upon execution of a lease with an HPC tenant, HIF will retain a minority ownership interest in the project. It expects to begin phased construction of the digital infrastructure campus this year, contingent upon regulatory approvals.

The MARA stock has surged amid the announcement of this land site acquisition. The crypto stock is currently trading at around $13, up over 12% today, according to TradingView data. The stock is also up over 45% year-to-date (YTD), bucking the downtrend among other crypto stocks amid the current bear market.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.