MARA to acquire 64% stake in EDF’s Exaion for $168 million

MIAMI - Digital energy company MARA Holdings, Inc. (NASDAQ:MARA), currently valued at $5.8 billion and showing impressive revenue growth of 41% over the last twelve months, announced Monday it has signed an agreement to acquire a 64% stake in Exaion, a subsidiary of French energy producer EDF, for approximately $168 million in cash. According to InvestingPro analysis, MARA’s stock has been notably volatile, with a beta of 6.26.

The deal includes an option for MARA to increase its ownership in Exaion to 75% by 2027 with an additional investment of approximately $127 million, contingent upon certain milestones being met. InvestingPro data indicates MARA is currently burning through cash rapidly, with a negative free cash flow yield, making the financing strategy of this acquisition particularly important for investors to monitor.

Exaion, which was created through EDF’s Pulse Incubation program, develops and operates high-performance computing data centers and provides secure cloud and AI infrastructure services. The company partners with technology firms including NVIDIA, Deloitte, and 2CRSI.

Following the transaction, EDF will remain a client of Exaion and retain a minority interest in the company. The acquisition is expected to close around the fourth quarter of 2025, subject to regulatory approvals and other closing conditions. MARA’s overall financial health score is rated as FAIR by InvestingPro, which offers comprehensive analysis through its Pro Research Report, available for over 1,400 US stocks.

"Our partnership with Exaion would bring together two global leaders in data center development and digital energy," said Fred Thiel, MARA’s Chairman and CEO, in a statement accompanying the press release.

Julien Villeret, Head of Innovation at EDF Group, noted the transaction "would be a major opportunity for Exaion to accelerate both its technological and international development."

MARA, which trades on the Nasdaq at $15.66 per share, focuses on deploying digital energy technologies and transforming excess energy into digital capital. The company, which has achieved a strong gross profit margin of 42%, stated that integrating Exaion’s platform and expertise would expand its capabilities into AI and high-performance computing infrastructure development.

Darrois Villey Maillot Brochier is serving as legal advisor to MARA for the transaction, while Stifel Financial Corp. is acting as financial advisor to Exaion.

In other recent news, Marathon Digital Holdings reported a record-breaking second quarter for 2025 with revenues reaching $238.5 million, marking a 64% increase compared to the previous year. The company also exceeded expectations by reporting earnings per share of $1.84, significantly above the anticipated loss of $0.22. In a separate development, MARA Holdings is in advanced talks to acquire a 64% stake in Exaion from Electricite de France SA’s venture capital division for approximately $168 million. This acquisition is part of MARA’s strategic expansion into artificial intelligence infrastructure. Meanwhile, Cantor Fitzgerald has maintained its Overweight rating on MARA Holdings, citing the company’s record revenue and increased adjusted EBITDA margin of 22.2% in the second quarter. These developments highlight the company’s strong financial performance and strategic growth initiatives.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.