MARA Holdings (MARA) Shares Surge 11% on Major Texas Land Acquisition

Key Highlights

• Marathon Digital Holdings secured a 1,200+ acre property in Matagorda County, Texas through a deal with HIF USA LLC
• The property offers up to 1 GW of electrical grid capacity by October 2027, expanding to 2 GW by April 2028
• The company will transform the site into a digital infrastructure hub for cryptocurrency mining and high-performance computing alongside Starwood Digital Ventures
• This acquisition will increase MARA’s combined power capacity to roughly 4.8 GW across all holdings
• Shares of MARA surged over 11% following the announcement, reaching approximately $13.87, with year-to-date gains exceeding 54% in 2026

Marathon Digital Holdings (MARA) announced Wednesday its agreement to purchase a 1,200-acre powered site in Matagorda County, Texas, from synthetic fuel producer HIF USA LLC. Following the announcement, shares rallied more than 11%, with the stock trading near $13.87.

Located approximately 90 miles southwest of Houston, the property provides access to up to 1 GW of power from the electrical grid by October 2027, with capacity expanding to 2 GW by April 2028.

Marathon Digital intends to transform the site into a comprehensive digital infrastructure facility in partnership with Starwood Digital Ventures. The facility will accommodate both cryptocurrency mining operations and high-performance computing (HPC) applications, with several prospective HPC clients already expressing interest.

Marathon Digital Holdings, Inc., MARA

Under the agreement terms, HIF USA will maintain a minority equity position in the project after securing a computing tenant under lease. The company confirmed it will pursue its synthetic fuel initiatives at alternative locations.

Expanding Energy Infrastructure

When construction concludes, the Texas facility is projected to more than double Marathon Digital’s existing power capacity. When combined with the company’s pending acquisition of the Long Ridge Energy & Power facility in Ohio, the total capacity across MARA‘s portfolio would approach approximately 4.8 GW — positioning the company alongside regional utility providers in terms of power availability.

Marathon Digital has now committed over $1.2 billion to Texas infrastructure investments. Construction of the new campus is scheduled to commence in phases during 2026, subject to receiving necessary regulatory clearances.

According to the company, the development will generate thousands of construction positions and permanent employment opportunities in Matagorda County, a predominantly rural area along Texas’s Gulf Coast.

Financial Performance and Market Position

Marathon Digital’s stock has climbed more than 54% year-to-date in 2026, driven by investor optimism surrounding artificial intelligence computing infrastructure demand. The company currently holds a market capitalization near $4.6 billion.

This context positions the recent acquisition as part of a broader strategic shift at Marathon Digital: evolving beyond pure Bitcoin mining operations toward becoming a diversified power infrastructure provider capable of serving multiple compute-intensive industries — from artificial intelligence companies to cryptocurrency operations.

Citizens recently launched coverage on MARA with a Market Outperform rating and established a $24 price target, highlighting the company’s expanding HPC infrastructure of 2.2 GW in owned and operated facilities.

The first quarter 2026 financial results presented challenges. Marathon Digital posted a net loss of $1.3 billion for the period, with earnings per share of -$3.31 compared to analyst expectations of -$1.41, while revenue of $174.6 million fell short of the $181.86 million consensus estimate.

MARA stock was trading at approximately $13.87, representing an intraday gain exceeding 11%.

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