MARA's Texas Gigawatt Expansion
MARA Acquires Texas Land for 2 GW Digital Infrastructure and Bitcoin Mining Campus
Anonymous
Key Points
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The acquisition is structured through MAT 1177 LLC (the Project Company) and Volt Texas, LLC, a MARA subsidiary, which will own the project. MAT 1177 LLC holds the land under contract, title to an adjacent Owned Site, and rights under a letter agreement with a utility (the LOA) for power delivery.
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The Texas site is located in Matagorda County and is slated to provide up to 1 GW of grid capacity by October 2027, expanding to 2 GW by April 2028, with full energization potentially increasing MARA's total power capacity to about 4.8 GW across its portfolio.
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The market reacted to the news with MARA stock rising about 5.7% in premarket trading, signaling investor optimism about the expansion and scale of the project.
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HIF will retain a minority ownership stake in the project upon execution of a lease with an HPC tenant, aligning its continued participation with MARA’s development of the site for high-performance computing and Bitcoin-mining workloads.
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HIF is also continuing its advanced fuels development plans on other sites, indicating that the transaction is part of a broader, multi-site strategic collaboration beyond this Texas project.
MARA Holdings has agreed to acquire a 1,200-acre powered land site in Matagorda County, Texas, from HIF USA in a deal valued at up to $600 million in milestone-based payments, according to The Defiant. The site is designed to support up to 2 gigawatts of electricity capacity by 2028, potentially lifting MARA's total power portfolio to about 4.8 GW.
MARA stock jumped roughly 15% after the announcement, according to TradingView, as investors bet the Texas project will cement MARA's position as one of the largest digital infrastructure operators in the United States.
Matagorda County Site Built for Bitcoin and AI
The Texas site spans more than 1,200 acres in Matagorda County, according to Crypto Economy. MARA plans to turn it into a large-scale campus for Bitcoin mining and high-performance computing — the kind of heavy number-crunching used in artificial intelligence workloads. The project is structured through a MARA subsidiary called Volt Texas, LLC, which will own the site via a project company named MAT 1177 LLC.
The site is slated to reach 1 GW of grid capacity by October 2027. It will then expand to 2 GW by April 2028. That schedule gives MARA a clear runway to scale up operations without waiting years for new power infrastructure to be built from scratch.
HIF Keeps a Stake, Partners Join the Build-Out
HIF USA, which had originally planned a $7 billion green fuels project on the land, will not walk away entirely, according to The Defiant. Once MARA signs a lease with an HPC tenant, HIF will retain a minority ownership stake in the project. HIF is also continuing its advanced fuels work on other sites, meaning this deal is part of a wider collaboration between the two companies.
MARA is developing the site alongside partners including Starwood Digital Ventures. That partnership targets roughly 1 GW of IT capacity. MARA has also previously teamed up with Long Ridge Energy & Power, signaling that the company is building its infrastructure empire through a network of joint ventures rather than going it alone.
Texas Deregulated Grid Drives MARA's Strategy
Texas is not an accident of geography for MARA. The state's deregulated energy market — run through the ERCOT grid — allows large power users to negotiate electricity rates directly. That flexibility makes it cheaper to run energy-hungry operations like Bitcoin mining and AI computing. Texas also has abundant wind and solar resources, which help keep power costs low.
The Matagorda County deal fits a broader push by MARA to build energy-backed compute facilities at scale. If all announced projects come online, MARA is on a path to more than 2 GW of energized capacity across its portfolio, with the full Texas site pushing the total to roughly 4.8 GW, according to Crypto Economy.
Stock Surges as Investors Cheer the Scale
Markets responded quickly to the news. MARA shares climbed about 15% after the announcement, according to TradingView. TipRanks reported that the stock jumped on what analysts called a "mega Bitcoin power deal." The move came on top of a recent analyst upgrade that set a $24 price target on the stock, according to Stocks to Trade.
The enthusiasm reflects how Wall Street is viewing the intersection of Bitcoin mining and AI computing. Large power sites are scarce. A company that locks up 2 GW in a fast-growing state like Texas is gaining an asset that is very hard to replicate quickly.
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