Bitcoin mining firm MARA Holdings (NASDAQ: MARA) received the final sign-off to complete its investment in Exaion, a firm that develops and runs data centers along with cloud and artificial intelligence infrastructure.
MARA France entered a deal to acquire a 64% stake in Exaion in August, according to an announcement on Friday. Bloomberg previously reported MARA was offering $168 million in cash to former parent company EDF Pulse Ventures to secure its majority stake in Exaion.
As part of this new operation, NJJ Capital and MARA have formed a strategic partnership under which NJJ will acquire a 10% stake in MARA France. The EDF Group remains a minority shareholder and a customer of Exaion.
“The French government was screening the transaction for potential sovereignty concerns, using its powers to intervene in investment by foreign entities,” according to Bloomberg.
Exaion’s Board of Directors will include three representatives appointed by MARA, three representatives appointed by EDF Pulse Ventures, one representative appointed by NJJ, as well as Exaion’s CEO and co-founder. Billionaire Xavier Niel and MARA CEO Fred Thiel will both sit on Exaion’s Board.
“The purpose of the partnership between MARA, EDF, and NJJ is to accelerate Exaion’s expansion, strengthen its capabilities in secure cloud services and high-performance computing, and enable Exaion — based in France — to emerge as a European leader in digital infrastructure,” the firms wrote in Friday’s release.
The EDF Group supplies energy and services to approximately 41 million customers and generated consolidated sales of €113.3 billion in 2025, according to the release.
Nasdaq-listed MARA, whose shares fell about 40% last year, is scheduled to release quarterly earnings next week. MARA posted a record $123 million profit last quarter by pairing its bitcoin operations with new power and AI assets.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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