Bitcoin mining giant MARA Holdings (formerly Marathon Digital) has closed a strategic acquisition: its French subsidiary MARA France purchased a 64% controlling stake in French computing firm Exaion for approximately $168 million in cash. The transaction received formal regulatory approval from the French government on February 20, 2026, marking a significant step for MARA's diversification from pure Bitcoin mining into high-performance computing (HPC) and artificial intelligence (AI) infrastructure.
Deal Details and Partners
According to the joint announcement, MARA France secured 64% ownership of Exaion, making it the controlling shareholder. The total consideration for the controlling interest was valued at roughly $168 million. Xavier Niel's NJJ Capital participated by acquiring a 10% minority stake in MARA France, while the original parent company, EDF Group (Électricité de France), retained a minority share and will continue as a primary anchor customer for the platform.
EDF Group had previously held a stake in Exaion through its venture arm EDF Pulse Ventures. After this deal, EDF's ownership will be diluted to a minority position, but the strategic partnership remains intact, ensuring Exaion continues to benefit from EDF's energy resources.
Exaion's Assets and Positioning
Exaion currently operates four specialized data centers in France, boasting 37 petabytes (PB) of storage capacity. The company focuses on high-performance computing (HPC) and secure cloud services, targeting AI training, scientific computing, and enterprise cloud solutions across Europe. By acquiring Exaion, MARA gains ready-made computing infrastructure on the continent, accelerating its transformation from a Bitcoin miner to a diversified digital infrastructure provider.
The joint statement emphasized: “The purpose of the partnership is to accelerate Exaion’s expansion, enabling Exaion to emerge as a European leader in digital infrastructure.” MARA plans to leverage its expertise in power procurement, energy management, and large-scale operations to help Exaion scale its business and reduce operating costs.
Strategic Significance and Industry Impact
MARA has been actively diversifying its business in recent years. In 2023, the company rebranded to MARA Holdings and began exploring HPC and AI opportunities. The acquisition of a controlling stake in Exaion provides MARA with immediate access to European data center assets, an established client base, and a direct pathway to participate in the rapidly growing European AI computing market.
Demand for sovereign AI infrastructure is surging across Europe, particularly in France and Germany. Exaion, backed by EDF's energy advantages and now reinforced by MARA's capital and operational know-how, is well-positioned to become a benchmark for homegrown European AI infrastructure. The involvement of NJJ Capital, led by French billionaire Xavier Niel, adds strong local industrial capital support to the venture.
Key FAQs
What percentage of Exaion did MARA Holdings acquire in this deal? MARA France officially secured a 64% controlling stake.
What was the total valuation of the majority stake acquisition? The transaction was valued at approximately $168 million in cash.
Which other major investor participated in the strategic partnership? Xavier Niel's NJJ Capital acquired a 10% minority stake in the MARA France entity.
Will the original parent company remain involved with Exaion? EDF Group remains a minority shareholder and will continue as a primary anchor customer.