MARA Holdings Outlines AI and Energy Shift with MPLX LOI; Q3 Results Impress

MARA Holdings and MPLX LP have entered into a letter of intent (LOI) to develop integrated power generation and data center campuses in West Texas. Under the agreement, MPLX will supply natural gas from its Delaware Basin facilities to power MARA's planned gas-fired facilities, which are set to initially deliver 400 MW of electricity, with potential expansion to 1.5 GW. This power will serve MARA's data centers and also bolster energy reliability for MPLX's regional operations, signaling MARA's strategic shift toward advanced AI and high-performance computing workloads.

Concurrently, MARA reported impressive third-quarter 2025 financial results. Revenues surged 92% year-over-year to $252 million, and the company swung from a net loss of $125 million last year to a net income of $123 million. Adjusted EBITDA saw a massive increase of 1,671% to $395.6 million. The company's energized hashrate grew by 64% to 60.4 EH/s, and its bitcoin holdings nearly doubled to 52,850.

(Source：CoinDesk)