MARA CEO: AI Power Revenues Outpace Bitcoin Mining, Will Continue Mining in Low-Cost Energy Regions
2026-07-29 07:35
Odaily Odaily reports that MARA CEO Fred Thiel stated that electricity used for AI infrastructure can generate higher returns than Bitcoin mining, with equivalent power input yielding more revenue from AI. MARA still plans to continue mining in regions where low-cost or surplus energy is economically attractive.
Thiel said MARA began acquiring sites that were previously hosting mining machines between late 2023 and early 2024, and by the end of 2024, it 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 gigawatt of computing capacity and plans for over 2.5 gigawatts. MARA also agreed in July to acquire a site in Texas that can access approximately 2 gigawatts of power for digital infrastructure.
Thiel said MARA began acquiring sites that were previously hosting mining machines between late 2023 and early 2024, and by the end of 2024, it 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 gigawatt of computing capacity and plans for over 2.5 gigawatts. MARA also agreed in July to acquire a site in Texas that can access approximately 2 gigawatts of power for digital infrastructure.
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