Bitcoin-Miner MARA Strikes $168 Million Deal for EDF Unit (1)

MARA Holdings Inc. has agreed to acquire a majority stake in Exaion from Electricite de France SA as the largest Bitcoin miner looks to extend its reach into artificial intelligence as an infrastructure provider.

Hallandale Beach, Florida-based MARA will pay about $168 million in cash to acquire a 64% stake in Exaion from EDF Pulse Ventures, the venture arm of the French utility group, according to a statement Monday that confirmed a Bloomberg News report. MARA will also have the option to increase its Exaion stake to 75% for another $127 million, contingent on certain conditions. EDF will remain a ...