MARA acquires majority stake in French Exaion; Ministry of Finance reviews and approves

2026-02-05 00:10:15

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Marathon Digital Holdings (MARA), the leading Bitcoin mining company in the United States, has acquired a majority stake in Exaion, the data center division of France’s national electricity provider EDF, and has received official approval from the French Ministry of Finance. This acquisition marks a continued expansion of the global cryptocurrency mining industry into Europe and also reflects France’s new attitude toward balancing regulation and industry development.

How the French Government Views the Cryptocurrency Mining Industry

The Ministry of Finance’s review focused on the non-compete clause within the transaction terms. According to the agreement, EDF will be restricted from engaging in commercial high-performance computing (HPC), artificial intelligence (AI), and Bitcoin mining operations for the next two years, and will not invest in companies providing such services. However, the government allows EDF to continue supplying power for these activities and to develop related technologies for its own use.

This limited but not entirely prohibitive approach reflects the French government’s pragmatic considerations—aiming to prevent direct competition between state-owned power companies and private mining firms while not completely abandoning the development opportunities in this sector.

MARA’s Important Step into Europe

With a 64% stake, MARA’s entry into the French market signifies a deepening of the company’s international expansion strategy. Exaion, as a data center operator under EDF, has a stable power supply infrastructure within France and ready-made facilities, making it highly attractive to Bitcoin mining companies seeking low-cost electricity.

Through this deal, MARA not only gains a competitive operational site but also officially enters the European landscape, laying the groundwork for further expansion into other European markets. The approval from the French Ministry of Finance further confirms the country’s open attitude toward investment in cryptocurrency infrastructure, which is expected to attract more international mining capital.

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