Overview
- MARA and HIF announced a definitive agreement on July 9 for MARA to acquire more than 1,200 acres in Matagorda County, Texas for development as a digital infrastructure campus.
- The site carries rights to deliver roughly 1 GW of grid capacity by October 2027 and up to 2 GW by April 2028, and HIF has issued a notice to proceed for a switchyard to connect the site to the grid.
- The purchase is structured as milestone‑based payments that could total up to $600 million if regulatory approvals, interconnection authorizations, and a signed HPC tenant lease are all achieved.
- MARA will develop the campus with Starwood Digital Ventures, will continue Bitcoin mining options while courting high‑performance computing tenants, and the announcement drove double‑digit gains in MARA’s share price.
- If fully energized and combined with MARA’s pending Long Ridge deal, the Matagorda site would raise the company’s potential power portfolio to about 4.8 GW, though permitting, equipment lead times and interconnection risks could delay targets and affect final costs and jobs.