Mara Holdings (Mara) Makes a surprise turn from its Bitcoin
Mining Roots announcing late Monday that it will acquire a 64% share in exaion, a high performance computing (HPC) The subsidiary of French energy giant EDF, broker HC Wainwright said in a research report on Tuesday.
While Mara has long floated the idea of helping electricity companies balance grid loads, HC Wainwright analyst Kevin Dede said he expected it would remain within a mining-centered strategy, not a direct jump in the HPC buildings.
But with Bitcoin -Halvation events threatening in 2028 and 2032, and artificial intelligence (AI) Demand for running Premium returns on computational power, Mara pays that HPC offers stronger margins than mining alone, the analyst wrote.
Mara is the latest Bitcoin Mining Company to turn to AI and HPC. Core scientific (Corz) was first to the party in June last year when it announced a 12-year deal with AI Cloud provider Coreweave (CRWV). The AI company agreed to buy Corz last month in an All-Share Agreement.
The pivot for HPC also places Mara in SOVEREIGN CLUD AI SERVICES, a niche where data remains private and separated behind the company’s firewalls, but where scaling requires deep networking and calculation of expertise, the report says.
HC Wainwright said the acquisition is a smart post in HPC, giving Mara credibility that it may not achieve on its own. The broker repeated his purchase rating on the shares with a price target of $ 28. The shares were 0.6% higher and traded about $ 15.76 upon publication time.
While Mara’s valuation has been bent by Bitcoin’s recent rally, Treasury Recording and Stocked Foundation -driven Inflow, there are still risks. These range from the BTC price volatility and network problems to capital dilution and the operational challenges of developing data center, the report added.
Read more: Mara, proprietor of nearly $ 6B BTC, is traveling $ 950 million. To buy more Bitcoin
