MARA Holdings said it has signed a definitive agreement with HIF USA to acquire a more than 1,200-acre powered land site in Matagorda County, Texas, about 90 miles southwest of Houston, in a move that could lift its total potential power capacity to about 4.8 gigawatts.
The site is expected to provide access to up to 1 gigawatt of grid capacity by October 2027, with capacity rising to as much as 2 gigawatts by April 2028. MARA said the project is already drawing interest from high-performance computing tenants and is intended to support both HPC workloads and flexible compute operations, including bitcoin mining.
The deal expands MARA’s Texas footprint after the company said it has already invested more than $1.2 billion in the state. MARA said full energization of the Matagorda site, together with the anticipated close of its previously announced Long Ridge Energy & Power acquisition, would more than double its potential power capacity to approximately 4.8 gigawatts across its portfolio.
HIF will keep a minority ownership stake in the project once a lease is executed with an HPC tenant. The company said it will continue its advanced fuels development plans on other sites.
Construction on the digital infrastructure campus is expected to begin in 2026, pending approvals. MARA said the site is expected to support thousands of construction and permanent full-time jobs upon completion. HIF said it has already issued notice to proceed for construction of the switchyard connecting the site to the grid. As a result of these announcements, the company's shares have moved 11.18% on the market, and are now trading at a price of $13.3636. If you want to know more, read the company's complete 8-K report here.
