MARA Holdings pivots to Texas as AI infrastructure powers stock gains

The deal with HIF grants MARA immediate access to a site slated for 1 gigawatt of power by October 2027, with full capacity expected by April 2028. Developed in partnership with Starwood Digital Ventures, the campus aims to attract high-performance computing tenants, marking a departure from pure-play mining. This expansion follows the company’s $1.5 billion acquisition of Long Ridge Energy & Power, reinforcing a strategy to diversify revenue streams as AI demand reshapes the digital infrastructure landscape.

MARA is not alone in this pivot. Industry peers like IREN Limited and TeraWulf are increasingly pivoting toward AI-ready data centers to capitalize on surging demand for compute power. With year-to-date gains exceeding 53%, MARA’s aggressive asset accumulation suggests that the most successful crypto miners of the next cycle may be those that function more like traditional utility and data center providers.