MARA Holdings Touts Exploding AI Demand, Targets 4 GW Power Portfolio With Bitcoin Mining as Its ‘Foundation’

MARA Holdings Inc. (NASDAQ: MARA) CFO Salman Khan said on Monday that the firm owns and operates about 1 gigawatt of power capacity, with a roadmap to scale beyond 4 GW.

MARA’s Plan to Deliver Long-Term Shareholder Value

During MARA’s third-quarter earnings call, Khan said the firm has secured the “power, partnerships and capital” required to advance its digital infrastructure strategy and deliver “long-term shareholder value.”

The firm is transitioning its infrastructure toward high-performance computing and AI data centers, alongside its Bitcoin (CRYPTO: BTC) mining foundation.

Last week, MARA received approval for its acquisition of energy firm Long Ridge Energy & Power LLC, a deal expected to quadruple the company’s owned power-generation capacity.

“And if you do the math, you know, we can go multi-gigawatt build opportunity through the existing liquidity that we have on the balance sheet, through the Bitcoin that we hold and the cash that we hold as of now,” Khan said.

A Paradigm Shift in Bitcoin Mining Industry

MARA’s expansion comes as other Bitcoin miners increasingly pursue AI and cloud infrastructure opportunities to monetize their power assets.

Core Scientific (NASDAQ:CORZ) announced last week that it’d exit Bitcoin mining entirely by year-end and become a pure-play provider for AI and high-performance computing workloads.

MARA posted third-quarter revenue of $164.23 million, down 35% year over year and below analyst expectations. It reported diluted earnings per share of $1.28, beating consensus expectations of a loss of 20 cents per share.

The company mined 2,247 BTC in the quarter and increased the mining hash rate by 18%.

As of this writing, MARA holds 35,177 BTC, worth $2.6 billion, in its reserves, according to BitcoinTreasuries.net, making it the fifth-biggest hoarder of the apex cryptocurrency.

Price Action: As of this writing, BTC is up 0.20% in the last 24 hours to $74,533.05, according to Benzinga Pro. 

MARA Holdings shares were down 0.15% in overnight trading at the time of writing, after closing 4.57% higher at $6.64 during Monday’s regular trading session.

MARA shows a weak price trend across short-, medium-, and long-term timeframes, according to Benzinga Edge Stock Rankings.

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