France has approved the sale of a majority stake in a key data center unit of state-owned Electricité de France (EDF) to U.S.-based bitcoin miner MARA Holdings Inc. MARA, headquartered in Florida, is acquiring a 64% stake in Exaion, a subsidiary operating high-performance computing infrastructure. The deal is valued at $168 million.
The transaction, initially raising concerns about foreign control, led the French government to impose conditions. These include NJJ Capital, a firm controlled by Xavier Niel, taking a 10% stake in Mara France. EDF will retain a minority stake and remain a client.
Finance Minister Roland Lescure stated the outcome balances attractiveness for international investment with the protection of strategic interests and technological sovereignty. A government statement confirmed no sensitive EDF data will remain with Exaion post-sale. Exaion's board will now feature representatives from MARA, EDF, and NJJ.