---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-023015"
form_type: "8-K"
ticker: "MARA"
cik: "0001507605"
company_name: "MARA Holdings, Inc."
filed_at: "2025-08-11T23:59:59+00:00"
generated_at: "2026-05-17T15:23:41.255949+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001641172-25-023015
- form_type: 8-K
- ticker: MARA
- cik: 0001507605
- company_name: MARA Holdings, Inc.
- filed_at: 2025-08-11T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1507605/000164117225023015/0001641172-25-023015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1507605/000164117225023015/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-023015
- JSON: https://secwatch.observer/filing/0001641172-25-023015.json
- Plain text: https://secwatch.observer/filing/0001641172-25-023015.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.