MARA stock rises after deal to acquire Texas site doubling power capacity
MARA Holdings announced a definitive agreement to acquire a 1,200-acre powered land site in Matagorda County, Texas from HIF USA LLC, expanding its digital infrastructure platform with access to approximately 2 GW of power capacity. This acquisition could more than double MARA's total potential power capacity to approximately 4.8 GW, including the anticipated close of its Long Ridge Energy & Power acquisition. The company plans to develop the site as a large-scale digital infrastructure campus supporting high-performance computing and Bitcoin mining, with phased construction expected to begin in 2026.
*this image is generated using AI for illustrative purposes only.
MARA Holdings, Inc. shares rose 10.48% to $13.28 after the company announced a definitive agreement to acquire a large-scale powered land site in Matagorda County, Texas from HIF USA LLC. The transaction expands MARA's digital infrastructure platform with access to approximately 2 GW of power capacity, which could more than double its total potential power capacity to approximately 4.8 GW across its portfolio. This figure includes the anticipated close of MARA’s previously announced agreement to acquire Long Ridge Energy & Power.
The site encompasses more than 1,200 acres and is located approximately 90 miles southwest of Houston. It 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. HIF will retain a minority ownership interest in the project upon the execution of a lease with a High-Performance Computing (HPC) tenant. The site has already received interest from potential HPC tenants.
Strategic Impact and Capacity Expansion
MARA intends to develop the site through its partnership with Starwood Digital Ventures as a large-scale digital infrastructure campus. This campus will support high-performance computing workloads and flexible compute operations, including Bitcoin mining. Fred Thiel, MARA's chairman and CEO, stated that the transaction advances the strategy of securing infrastructure assets capable of supporting high-performance compute and bitcoin workloads.
Site Development and Investment
Phased construction of the digital infrastructure campus is expected to begin in 2026, contingent upon regulatory approvals. HIF has given a Notice to Proceed for construction on the switchyard to connect the site to the grid. MARA has invested more than $1.2 billion in Texas to date and intends to continue significant investment to develop the site. The site is expected to support thousands of construction and permanent full-time jobs upon completion.
| Metric | Detail |
|---|---|
| Site Size | More than 1,200 acres |
| Initial Capacity (Oct 2027) | Up to 1 GW |
| Full Capacity (Apr 2028) | Up to 2 GW |
| Total Portfolio Capacity | Approx. 4.8 GW |
What are the projected capital expenditures required to fully develop the 2 GW site by 2028?
How will MARA balance the revenue mix between Bitcoin mining and High-Performance Computing (HPC) tenants at this new campus?
What specific regulatory approvals are required before construction can begin in 2026, and are there any anticipated delays?
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