Bitcoin miner MARA Holdings saw its shares jump roughly 15% in early trading Thursday. The company announced a deal to acquire a 1,200-acre powered-land site in Matagorda County, Texas, providing access to up to 2 gigawatts of electricity.
The site, located about 90 miles southwest of Houston, is slated for development as a digital infrastructure campus. It will support both high-performance computing for AI and Bitcoin mining. Upon full energization, the project is expected to more than double MARA's potential power capacity to approximately 4.8 gigawatts.
The expansion is part of a broader industry trend where Bitcoin miners are pivoting to leverage their power infrastructure for lucrative AI data center contracts. This shift has been rewarded by investors, with companies like Hut 8 and TeraWulf seeing significant stock gains after securing major AI hosting deals.
MARA noted the Texas project is in early development and subject to regulatory approval. Construction will be phased over several years.