MARA Holdings (MARA, Financial) just sent its stock flying nearly 18% today after announcing a massive 372-megawatt boost to its compute capacity in Ohio. The company snagged two operational data centers with 222 megawatts of interconnect-approved capacity and is developing a 150-megawatt greenfield facility in Findlay. Translation? MARA just upped its owned and operated compute power by over 70%, setting itself up for a major leap toward its 2024 target of 50 exahashes per second (EH/s). Investors are eating this up, and for good reason—MARA is playing a long game, aiming to dominate the Bitcoin mining industry on cost and capacity.
Salman Khan, MARA's CFO, didn't hold back on the numbers, calling the acquisitions a steal at $270,000 per megawatt—one of the lowest in the industry. “This isn't just about adding capacity; we're slashing costs and taking control,” he said, pointing out the potential for up to 50% operating cost reductions at the Hopedale facility. CEO Fred Thiel chimed in, saying the expansion diversifies MARA's footprint across multiple independent system operators (ISOs), ensuring no single jurisdiction has more than half of its compute power. With plans to fully energize these sites by 2025, MARA's making it clear they're in it to win it, and the market is catching on.
This isn't just an operational win—it's a strategic masterstroke. MARA now boasts nearly 1.5 gigawatts of total capacity, with 65% of it fully under their control. That's a big deal in an industry that lives and dies by efficiency. The cherry on top? MARA's positioning itself as the low-cost leader while leaning into greenfield developments to drive profitability. The stock's 18% surge today reflects growing confidence that MARA's not just keeping pace—it's racing ahead in the Bitcoin mining space.
