MARA Jumps 15% on Texas Site Deal, Doubling Power Capacity to 4.8 GW
MARA has more than doubled off its 52-week low of $6.66.
Summary
MARA shares surged 15% to $13.82 midday Thursday after the company disclosed new details of its Texas land acquisition from HIF USA. The 1,200-acre Matagorda County site will deliver 1 GW of grid capacity by October 2027 and 2 GW by April 2028, more than doubling MARA's total potential power to 4.8 GW when combined with the pending Long Ridge Energy deal. The company plans to develop the campus with Starwood Digital Ventures for HPC and bitcoin mining, while HIF retains a minority stake. This follows earlier reports of the deal this morning but adds concrete timelines, the Starwood partnership, and the portfolio-level capacity impact that drove the stock's sharp move.
At the time of this announcement, MARA was trading at $13.81 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $5.3B. The 52-week trading range was $6.66 to $23.45. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.