BlockBeats News, February 21 — MARA announced on Friday that its French subsidiary MARA France has completed the acquisition of a 64% stake in Exaion. The agreement was initially reached last August. As part of the deal, NJJ Capital has established a strategic partnership with MARA, acquiring a 10% stake in MARA France. The EDF Group remains a minority shareholder and customer of Exaion.
According to previous reports by Bloomberg, MARA purchased Exaion’s controlling stake from its former parent company EDF Pulse Ventures for $168 million in cash. The French government had reviewed the transaction on national security grounds.
The Exaion board will consist of three representatives appointed by MARA, three by EDF Pulse Ventures, one by NJJ Capital, and the CEO and co-founder of Exaion. Billionaire Xavier Niel and MARA CEO Fred Thiel will jointly join the Exaion board.
The three parties stated that this collaboration aims to accelerate Exaion’s expansion, strengthen its capabilities in secure cloud services and high-performance computing, and help this France-based company become a leader in digital infrastructure in Europe.
EDF Group provides energy and services to approximately 41 million customers, with combined sales reaching €113.3 billion in 2025.
MARA, listed on NASDAQ, saw its stock price decline by about 40% last year and is expected to release its quarterly earnings next week. In the previous quarter, the company achieved a record profit of $123 million by combining its Bitcoin operations with new electricity and AI assets.
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