Bitcoin Miner MARA Enters High Performance Computing Market by Acquiring Majority Stake in EDF Subsidiary: HC Wainwright
MARA Holdings (MARA) Suddenly Divests Bitcoin-Related Assets
$119,631.61 worth of BTC mining company Roots announced late Monday that it has acquired a 64% stake in Exaion, a subsidiary of French energy giant EDF that focuses on high-performance computing (HPC), according to a research report from broker HC Wainwright published Tuesday.
While MARA has long offered to help energy companies balance network load, HC Wainwright analyst Kevin Dede said it would remain part of a mining-focused strategy rather than directly expanding HPC capacity.
However, given the expected Bitcoin halvings in 2028 and 2032, as well as the growing demand for artificial intelligence (AI), which provides high profitability of computing power, MARA hopes that HPC will provide higher profitability than mining alone, the analyst said.
MARA is the latest Bitcoin mining company to pivot to AI and high-performance computing. Core Scientific (CORZ) was the first to join the trend last June, announcing a 12-year deal with AI cloud provider CoreWeave (CRWV). Last month, the AI-focused company agreed to acquire CORZ in an all-stock deal.
The move to HPC also places MARA in the AI cloud services space, where data remains private and protected by corporate firewalls, but scaling requires deep networking and computing expertise, the report said.
HC Wainwright noted that the acquisition is a smart move for HPC that adds credibility to MARA that it might not have achieved on its own. The broker reiterated a “buy” rating on the stock with a $28 price target. At press time, the stock was up 0.6%, trading around $15.76.
While MARA's valuation has increased thanks to the recent rise in Bitcoin, the adoption of Treasuries, and the influx of funds from exchange-traded funds, risks remain. These range from BTC price volatility and network difficulties to capital erosion and operational issues related to data center development, the report noted.
Read more: MARA, Owner of Nearly $6 Billion BTC, Raises $950 Million to Buy More Bitcoin
Source: cryptonews.net
