MARA completes purchase of majority stake in French data center unit

Bitcoin mining firm MARA Holdings has received final approval to complete its investment, acquiring a 64% majority stake in Exaion, a French company specializing in data centers, cloud, and AI infrastructure. The deal, initially announced in August, involved MARA offering $168 million in cash to the former parent company, EDF Pulse Ventures. As part of the transaction, NJJ Capital will acquire a 10% stake in MARA France, while the EDF Group remains a minority shareholder and a customer of Exaion. The acquisition faced scrutiny from the French government over sovereignty concerns, which has now been cleared. The new Board of Directors will feature representatives from MARA, EDF Pulse Ventures, and NJJ, including MARA CEO Fred Thiel and Xavier Niel. The partnership aims to accelerate Exaion's expansion to become a leading European digital infrastructure provider.

(Source：The Block)