MARA Completes Acquisition of Majority Stake in French Data Center Company Exaion

BlockBeats News, February 21st, MARA announced on Friday that its French subsidiary MARA France has completed the acquisition of a 64% stake in Exaion. The agreement was first reached as early as August last year. As part of the transaction, NJJ Capital has established a strategic partnership with MARA, with NJJ acquiring a 10% stake in MARA France. EDF Group remains a minority shareholder and client of Exaion.

According to Bloomberg's previous report, MARA acquired a majority stake in Exaion for $168 million in cash from its former parent company EDF Pulse Ventures. The French government had reviewed the transaction on grounds of sovereignty concerns.

The Exaion board of directors will be composed of three representatives appointed by MARA, EDF Pulse Ventures, and NJJ Capital, as well as the CEO and co-founder of Exaion. Billionaire Xavier Niel and MARA CEO Fred Thiel will join the Exaion board of directors together.

The three parties stated that this cooperation aims to accelerate Exaion's expansion, strengthen its capabilities in secure cloud services and high-performance computing, and help this France-based company become a leader in European digital infrastructure.

EDF Group provides energy and services to around 41 million customers, with a projected consolidated sales revenue of €113.3 billion by 2025.

MARA, listed on the Nasdaq, saw its stock price drop by about 40% last year and is expected to announce quarterly earnings next week. In the previous quarter, the company achieved a record profit of $123 million by combining its Bitcoin business with new power and AI assets.