Mining company MARA plans to acquire a controlling stake in the AI subsidiary of French utility company for $168 million

ChainCatcher news, according to Bloomberg, Bitcoin mining company MARA Holdings Inc. will acquire a 64% stake in Exaion, a technology subsidiary of the French electricity company (EDF), for $168 million in cash.

Under the agreement, MARA also has the option to invest an additional $127 million, increasing its stake to 75%. The French electricity company will retain a minority shareholder status.

This acquisition aims to expand MARA's business layout in the field of artificial intelligence infrastructure.