STOCKS | MARA Shares Rise About 18% After Plan to Buy Electrified Texas Land

MARA Holdings said it plans to acquire a 1,200-acre electrified site in Texas to build a digital infrastructure campus for high-performance computing and Bitcoin mining, sending its shares up about 18% in early Thursday trading. According to Foresight News, the planned campus would have up to 2 gigawatts of grid interconnection capacity. The site is located in Matagorda County, southwest of Houston. MARA said the purchase would not be paid in a lump sum; instead, payments would be made in stages up to $600 million. The company said payments will depend on project milestones, including regulatory approvals, land acquisition, power access and authorizations, and the eventual signing of contracts with data center tenants. MARA added that it expects interconnection capacity to reach 1 gigawatt by October 2027 and 2 gigawatts by the second quarter of 2028, depending on approval from ERCOT.