MARA to Acquire Large Tract of Land in Texas for Up to $600 Million to Expand AI and Mining Infrastructure

Planning a Data Center Hub with Up to 2 Gigawatts of Power Capacity

MARA Holdings, a Bitcoin mining company, has agreed to acquire over 1,200 acres of power supply land in Matagorda County, Texas, from HIF USA.
The company plans to invest up to $600 million to establish a large-scale digital infrastructure hub that supports both high-performance computing (HPC) and Bitcoin mining.

Expansion to Up to 2 Gigawatts, Payments Linked to Development Stages

The planned site is located approximately 90 miles southwest of Houston, with plans to connect to a 1-gigawatt transmission grid capacity by October 2027. Subject to approval from the Electric Reliability Council of Texas (ERCOT) and other conditions, there is potential to expand to a maximum of 2 gigawatts by the second quarter of 2028.
MARA will not pay the acquisition amount in a lump sum but will make payments of up to $600 million in installments based on development progress. Conditions for the payments include regulatory approvals, completion of land acquisition, authorization for power supply from the transmission grid, and signing lease agreements with qualified HPC tenants.
Development will be carried out in partnership with Starwood Digital Ventures, which will handle design, construction, and tenant selection, while MARA will provide the power supply land and energy infrastructure. HIF USA plans to continue investing as a minority shareholder in the project after securing HPC-related tenants.
If regulatory approvals are obtained, phased construction could begin as early as 2026. According to the company, there has already been interest from potential HPC tenants, although no specific lease agreements have been announced at this time.

Strengthening Power Infrastructure to Support AI and Bitcoin Mining

This acquisition is part of MARA's strategy to expand its business from a Bitcoin mining company to a digital energy infrastructure provider supporting AI and large-scale computing.
Data centers and AI computing require large and stable power supplies along with scalable facilities. MARA plans to utilize the acquired land to accommodate both HPC workloads and flexible computing operations, including Bitcoin mining.
If the Texas facility operates at maximum capacity, the potential power capacity secured by MARA, including the planned Longridge Energy-related facilities, is expected to reach approximately 4.8 gigawatts. The company has already invested over $1.2 billion in Texas and positions the state as the center of its long-term infrastructure strategy.
Following the announcement, MARA's stock saw a significant increase during trading on July 9. This acquisition is part of the company's efforts to expand its infrastructure for AI and HPC as a new revenue base.

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