MARA Holdings signed an agreement to acquire a powered land site in Matagorda County, Texas, with up to 2 GW of grid capacity by April 2028 for high-performance computing and bitcoin mining operations. The deal, announced through a partnership with Starwood Digital Ventures, triggered a 13% rise in MARA shares on Nasdaq. The acquisition expands MARA's digital infrastructure strategy as demand for AI and compute-intensive workloads accelerates across the sector.
MARA Acquires 1,200-Acre Texas Site With 2 GW Capacity Timeline
MARA Holdings will acquire a site spanning more than 1,200 acres in Matagorda County, Texas, approximately 90 miles southwest of Houston. The site is expected to provide access to an initial 1 GW of grid capacity by October 2027, with capacity rising to 2 GW by April 2028. MARA plans to develop the property into a large-scale campus supporting high-performance computing, flexible compute operations, and bitcoin mining. The site has already received interest from potential high-performance computing tenants. If a lease is signed with an HPC customer, HIF will retain a minority ownership interest in the project.
MARA's Power Portfolio Expands to 4.8 GW With Long Ridge Inclusion
The acquisition significantly increases MARA's long-term power capacity. Once fully energized, the site is expected to help lift the company's potential portfolio capacity to about 4.8 GW, including the anticipated closing of MARA's previously announced agreement to acquire Long Ridge Energy & Power. Fred Thiel, MARA's chairman and CEO, said the deal advances the company's strategy of securing infrastructure assets with access to reliable and scalable power. MARA has already invested more than $1.2 billion in Texas and said it plans to continue significant investment in the state.
HIF USA Retains Minority Stake as Construction Begins in 2026
For HIF USA, the transaction allows the company to monetize infrastructure assets while retaining exposure to future development. HIF will continue its advanced fuels plans at other sites it controls in Texas and globally. Renato Pereira, HIF USA's CEO, said the project will support economic investment and jobs in Matagorda County. HIF has issued a notice to proceed with the construction of the switchyard needed to connect the site to the grid. Phased construction of the digital infrastructure campus is expected to begin in 2026, subject to regulatory approvals. MARA said the development is expected to support thousands of construction and permanent full-time jobs once completed.
FAQ
What did MARA Holdings acquire in Texas?
MARA Holdings signed an agreement to acquire a powered land site in Matagorda County, Texas, spanning more than 1,200 acres with up to 2 GW of grid capacity by April 2028.
When will the Texas site reach full capacity?
The site is expected to provide an initial 1 GW of grid capacity by October 2027, with capacity rising to 2 GW by April 2028.
How does this deal affect MARA's total power capacity?
Once fully energized, the site is expected to help lift MARA's potential portfolio capacity to about 4.8 GW, including the anticipated closing of MARA's previously announced agreement to acquire Long Ridge Energy & Power.
