MARA Stock Jumps as Bitcoin Miner Buys Powered Texas Site for AI Push

TLDR

• MARA agreed to buy a 1,200-acre powered site in Texas.
• The Texas site could provide up to 2 GW of grid capacity.
• MARA plans AI compute and Bitcoin mining workloads at the site.
• MARA shares rose more than 15% after the land deal.
• Citizens rated MARA Outperform with a $24 price target.

MARA Holdings shares jumped after the Bitcoin miner agreed to acquire more than 1,200 acres of powered land in Texas, adding a large energy asset for Bitcoin mining and high-performance computing.

The company said it will buy the site in Matagorda County from HIF USA. The land comes with access to up to 1 gigawatt of grid capacity by October 2027 and up to 2 gigawatts by April 2028.

MARA plans to develop the property into a computing campus with Starwood Digital Ventures. The site may support both Bitcoin mining machines and AI data center workloads, as miners continue looking for ways to use power assets beyond crypto mining.

MARA Expands Power Portfolio in Texas

MARA said the Texas acquisition will add to its long-term infrastructure pipeline. The company has already invested more than $1.2 billion in Texas and said the project could create construction and permanent jobs in Matagorda County.

HIF USA will keep a minority stake after a computing tenant signs a lease. The synthetic fuels company had previously planned to use the site for fuel projects and said it will continue those plans at other locations in Texas and abroad.

MARA Chairman and CEO Fred Thiel said, “This transaction advances our strategy of securing strategically located infrastructure assets capable of supporting high-performance compute and Bitcoin workloads.”

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He added that sites with access to reliable and scalable power may become more valuable as demand for digital infrastructure grows. The company said the acquisition could help raise its total power portfolio to nearly 4.8 gigawatts, including a previously announced Ohio power plant deal.

Stock Rises as AI Compute Story Grows

MARA shares rose more than 15% after the announcement, trading near $13.87. The stock has gained more than 50% so far in 2026 as investors watch its shift from pure Bitcoin mining toward AI and high-performance compute infrastructure.

Citizens also initiated coverage of MARA with an Outperform rating and a $24 price target. The firm cited MARA’s plan to repurpose Bitcoin mining power infrastructure for hyperscale computing customers.

The company’s revenue stood near $907.1 million in the latest period, while profitability measures remained negative as MARA continues to expand. The balance sheet showed about $513.7 million in cash and about $2.26 billion in long-term debt.

MARA remains tied to Bitcoin market conditions, but the company is increasingly being valued on power access, data center demand, and its ability to secure customers for AI workloads. Bloomberg has reported that power availability has become a central issue for data center and AI infrastructure growth.

Bitcoin Miners Chase Data Center Demand

The deal reflects a broader shift among public Bitcoin miners. Many companies that built large energy footprints for mining are now exploring AI, cloud computing, and high-performance computing to diversify revenue.

Bitcoin mining remains energy-intensive, but AI data centers also require large and reliable power supplies. That overlap has made mining sites more attractive to firms seeking faster access to power infrastructure.

MARA’s Texas site gives the company a chance to serve both markets from the same energy base. The final value of the project will depend on buildout costs, power delivery, tenants, Bitcoin prices, and demand from AI customers.

The company’s move comes as traders also track possible U.S. policy support for Bitcoin through a Strategic Bitcoin Reserve. That proposal is still under review, but crypto infrastructure stocks such as MARA have reacted to policy headlines alongside company-specific expansion plans.