Core Insights - MARA Holdings, Inc. has signed an investment agreement to acquire a 64% stake in Exaion, a subsidiary of EDF, with an option to increase ownership to 75% by 2027 [1][5] - The acquisition aims to enhance MARA's capabilities in AI and high-performance computing (HPC) infrastructure, addressing the growing demand for secure cloud solutions [2][4] Investment Details - MARA will invest approximately $168 million in cash upfront for the initial 64% stake and has the opportunity to invest an additional $127 million for an extra 11% contingent on certain milestones [5] - The transaction is expected to close in Q4 2025, pending regulatory approvals [5] Strategic Implications - Post-transaction, MARA will become a strategic shareholder in Exaion, which will facilitate larger-scale international commercial deployment of its services [2][4] - EDF will retain a minority interest in Exaion, indicating confidence in Exaion's long-term growth prospects [3] Company Background - MARA focuses on deploying digital energy technologies to advance energy systems and transform excess energy into digital capital [7] - Exaion specializes in high-performance computing data centers and secure cloud infrastructure, catering to enterprise and public-sector clients [2][8] - EDF Group is a leader in low-carbon energy, with a significant focus on sustainable energy solutions and innovation [9][10]