Catenaa, Sunday, March 01, 2026- MARA Holdings has finalized its acquisition of a 64% stake in Exaion after receiving regulatory clearance from French authorities, marking a major expansion of the US-based bitcoin miner into European digital infrastructure.
The deal, first announced in August, involved an offer of $168 million in cash to EDF Pulse Ventures, according to prior reporting by Bloomberg. French officials reviewed the transaction over sovereignty concerns tied to foreign investment in strategic assets.
Exaion develops and operates data centers, along with cloud and artificial intelligence infrastructure. The transaction positions MARA to deepen its presence in high-performance computing and secure cloud services across Europe.
As part of the arrangement, NJJ Capital will acquire a 10% stake in MARA France under a strategic partnership. EDF Group will remain a minority shareholder in Exaion and continue as a customer.
Exaion’s board will include representatives from MARA, EDF Pulse Ventures and NJJ Capital, along with its chief executive. Billionaire Xavier Niel and MARA Chief Executive Fred Thiel are set to join the board.
EDF Group supplies energy and services to about 41 million customers and reported €113.3 billion in consolidated sales in 2025.
Nasdaq-listed MARA, which saw its shares decline about 40% last year, is scheduled to release quarterly earnings next week. The company reported a record $123 million profit last quarter after expanding into power generation and artificial intelligence assets alongside its bitcoin operations.
