MARA Unveils 2 GW Texas AI & Bitcoin Mining Campus Plan, Stock Jumps 14%
MARA has more than doubled off its 52-week low of $6.66.
Summary
MARA announced plans to acquire a 1,200-acre site in Texas for up to $600 million in milestone payments, aiming to develop a 2 gigawatt digital infrastructure campus for AI and bitcoin mining. This significant expansion, which could boost MARA's total power portfolio to 4.8 gigawatts, aligns with its strategic pivot towards high-performance computing and AI infrastructure, as detailed in its Q1 2026 report. The market reacted strongly, sending shares up 14% on the news. The project is expected to reach 1 gigawatt capacity by October 2027 and 2 gigawatts by Q2 2028, contingent on ERCOT approvals.
At the time of this announcement, MARA was trading at $13.88 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 9 out of 10. Source: The Block.