MARA CEO: AI Power Revenue Exceeds Bitcoin Mining, Will Continue Mining in Low-Cost Energy Regions
2026-07-29 07:35
Odaily Planet Daily News: MARA CEO Fred Thiel stated that power used for AI infrastructure can generate higher returns than Bitcoin mining, with the same amount of electricity dedicated to AI yielding more revenue. MARA still plans to continue mining in regions where low-cost or surplus energy is economically attractive.
Thiel said that MARA began acquiring sites previously hosting mining rigs between late 2023 and early 2024, and by the end of 2024, it had owned infrastructure supporting approximately 70% of its operations. The company then shifted its focus to energy assets.
MARA has partnered with Starwood to establish a platform, with a near-term target of approximately 1 GW of computing capacity, and plans exceeding 2.5 GW. In July, MARA also agreed to acquire a site in Texas that can access approximately 2 GW of power for digital infrastructure.
Thiel said that MARA began acquiring sites previously hosting mining rigs between late 2023 and early 2024, and by the end of 2024, it had owned infrastructure supporting approximately 70% of its operations. The company then shifted its focus to energy assets.
MARA has partnered with Starwood to establish a platform, with a near-term target of approximately 1 GW of computing capacity, and plans exceeding 2.5 GW. In July, MARA also agreed to acquire a site in Texas that can access approximately 2 GW of power for digital infrastructure.
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