Bitcoin miner MARA has outlined plans to expand its artificial intelligence and energy infrastructure business, including a Texas site with potential power capacity of up to 2 gigawatts, according to its third-quarter 2026 shareholder letter.
Q3 2026 · MARA
MARA Moves From Bitcoin Mining Toward AI Computing Power
The bitcoin miner is planning a Texas site with up to 2 GW of potential power capacity and has booked its first disclosed GPU-as-a-service contract, worth $79 million, through subsidiary Exaion.
2 GW
Potential power capacity at the planned Texas site
$79M
Exaion GPU-as-a-service contract, rented on demand
Scale of the Texas plan
Each block represents 1 GW of potential capacity. Figures are plans, not operating output.
2 GW
Texas site, potential
The site is central to the strategy. Two gigawatts would be a substantial load by industry standards, and access to large volumes of electricity is one of the main constraints for companies building AI data centers.
From mining to AI infrastructure
Power-intensive mining sites
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Large-scale power and land for AI data centers
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GPU computing rented to customers
The key question
Potential capacity becomes revenue only if MARA secures customers, hardware and financing.
Customers Buyers for AI computing capacity
Hardware GPUs to equip the facilities
Financing Capital to build out the Texas site
Investor view: positive
Demand for AI computing has drawn interest toward companies that can secure power and land quickly, and MARA now has a disclosed revenue contract.
Analyst view: cautious
Analysts point to execution risk, heavy capital needs for data centers, and volatility in both bitcoin prices and AI demand. The Texas timeline has not been detailed.
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