Overview
- The acquisition gives MARA a controlling interest in Exaion following months of French national security screening.
- EDF retains a minority share in Exaion and continues as a customer of the HPC and secure cloud provider.
- France required NJJ Capital to take a 10% stake in the local entity Mara France to preserve a domestic anchor investor.
- Exaion’s board will include three MARA seats, three from EDF Pulse Ventures, one from NJJ, plus the CEO, with Fred Thiel and Xavier Niel joining as directors.
- The deal advances MARA’s push into AI and high‑performance computing as miners diversify after the 2024 halving and a recent difficulty jump, with a reported option to raise its stake to 75% by 2027.