MARA Holdings, Inc.

MARA is an energy and digital infrastructure company that acquires, manages, and allocates energy to its highest-value uses. The company utilizes Bitcoin mining as a flexible, energy-responsive workload to monetize excess and underutilized power and optimize power management across its portfolio. MARA is also developing artificial intelligence ("AI") inference and high-performance computing ("HPC") capabilities. The company operates across four continents and 18 data centers in North America, the Middle East, Europe, and Latin America, with approximately 1.9 gigawatts ("GW") of total capacity. MARA's strategy focuses on the ownership and control of energy and digital infrastructure, having transitioned from an asset-light model to expand its owned portfolio capacity to approximately 70%. The company is deploying and scaling AI inference and HPC capabilities within its existing footprint, reallocating a meaningful portion of its capacity to support these applications. MARA acquired a majority ownership interest in Exaion SaS ("Exaion"), a company that develops and operates HPC data centers and provides secure cloud and AI infrastructure. Additionally, MARA entered into a strategic agreement with Starwood Digital Ventures ("Starwood") to develop, finance, and operate AI and HPC infrastructure on select power-rich sites. Under this agreement, MARA will contribute certain sites and retain up to a 50% ownership interest in a newly formed joint venture.