MARA signs agreement to acquire 64% of Exaion from EDF for ~$168M, option to increase to 75%

MARA Holdings, Inc.

MARA to acquire 64% stake in Exaion (EDF subsidiary) for ~$168M upfront; option to increase to 75% by 2027 for additional ~$127M.
Exaion operates HPC/AI data centers; partners include NVIDIA, Deloitte; MARA expects to expand AI/HPC infrastructure capabilities.
Transaction expected to close Q4 2025; subject to French/Canadian regulatory approvals; no financing condition.
EDF will remain a client and retain minority interest; MARA will become strategic shareholder.
Investment via Mara France SAS; includes primary share subscription and secondary purchase from EDF Pulse Holding and minority holders.

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