MARA shares jump 10.48% after agreement to buy Texas site with up to 2 GW of grid capacity by April 2028
AI Market Summary
MARA announced an acquisition of a 1,200+ acre Texas site targeting up to 1GW grid capacity by Oct 2027 and 2GW by Apr 2028, with early HPC tenant interest and a minority retained stake by the seller contingent on leasing. Combined with the pending Long Ridge deal, management frames total potential power capacity above 4.8GW, reinforcing long-duration infrastructure optionality for HPC and bitcoin workloads. Shares rose ~10% on the news.
Impact level
● Medium
Affected assets
NCSKMARA2USD/USDT+0.80%
AI Insight · NCSKMARA2USD/USDTAI Insight
▲ Bullish
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MARA said it will acquire more than 1,200 acres in Matagorda County, Texas, a site expected to provide access to up to 1 GW of grid capacity by October 2027 and up to 2 GW by April 2028. Including the previously announced deal to acquire Long Ridge Energy & Power, the company said its total potential power capacity would exceed 4.8 GW. MARA added that potential high-performance computing tenants have already expressed preliminary interest in the project.
