TL;DR
Deal terms: MARA to buy 64% of EDF’s Exaion for $168M, with an option to reach 75% by 2027. Closing targeted Q4 2025 pending approvals; EDF keeps a minority stake and remains a client.
Strategic rationale: Exaion adds AI/HPC data centers, secure cloud, and partnerships with NVIDIA, Deloitte, and 2CRSI. Integration aims to scale globally while aligning with low‑carbon, compliance-first enterprise needs.
What’s next: MARA integrates Exaion’s platform and teams for international rollout and energy‑efficient AI compute. An additional 11% purchase remains milestone‑based; both firms emphasize security and sovereign infrastructure.
Bitcoin miner MARA plans to acquire a majority share in Exaion, a French AI and high-performance computing branch of energy company EDF. This deal will further integrate the Nasdaq-listed company into data-center infrastructure. Under a newly signed agreement, MARA will acquire 64% of Exaion for about $168 million in cash, with an option to lift its stake to 75% by 2027. The transaction, subject to regulatory approvals, is targeted to close around the fourth quarter of 2025. EDF will retain a minority interest and remain a client.
Today, MARA and @EDFofficiel signed an investment agreement in subsidiary Exaion to expand MARA’s global AI/HPC capabilities.
Read the press release: https://t.co/mH0z6X8NWK pic.twitter.com/HHUyRXQDEj
— MARA (@MARA) August 11, 2025
Deal overview
As a strategic shareholder, MARA plans to integrate Exaion’s platform, operations, and engineering teams to scale AI/HPC services globally. The option to acquire an additional 11%, for roughly $127 million, contingent on milestones, would cement majority control as demand for secure compute rises. The partnership structure preserves EDF’s commercial ties while aligning incentives for accelerated international rollout. The deal prioritizes execution and compliance.
Why Exaion matters
Exaion builds and operates HPC data centers and secure cloud infrastructure tailored to enterprises and public-sector clients. The company collaborates with NVIDIA, Deloitte, and 2CRSI, signaling a stack optimized for AI workloads and trusted compliance frameworks. Its origins within EDF’s Pulse incubation arm add credibility with customers prioritizing resiliency, sovereignty, and carbon-aware compute.
Energy and security pitch
MARA CEO Fred Thiel framed the tie-up as a marriage of digital energy and data-center expertise, promising secure, scalable cloud tuned for AI while improving energy efficiency. Julien Villeret, EDF’s head of innovation, described the agreement as a new chapter that connects Exaion with an experienced tech partner while maintaining collaboration with EDF Group. Both parties positioned data protection and low‑carbon operations as differentiators in government and enterprise markets.
Timeline and what’s next
Following closely, Exaion would transition from a France-centered business to a larger-scale international deployment leveraging MARA’s footprint. MARA says integrating Exaion advances its strategy of converting excess energy into digital capital and reducing the energy demands of AI at the edge.
Legal and financial advisors are in place, and closing hinges on standard conditions and approvals. If milestones are met, MARA could move to 75% ownership by 2027.
