Marathon Digital Plans $600M Texas Mining Hub, Stock Surges 18% on Thursday

MARA11.69%
BTC0.74%
According to Foresight News, Marathon Digital Holdings announced plans to acquire 1,200 acres of electrified land in Texas on Thursday, with its stock surging approximately 18% in early morning trading. The company plans to build a digital infrastructure park for high-performance computing and Bitcoin mining with a capacity of up to 2 gigawatts. The acquisition will be phased and could reach $600 million total, with payments contingent on regulatory approvals, land acquisition, power access, and tenant contracts. Located in Matagorda County southwest of Houston, Marathon Digital expects to reach 1 gigawatt of capacity by October 2027 and 2 gigawatts by Q2 2028, pending ERCOT approval.
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