MARA to acquire the project company of a 2,000MW computing data center in Texas for up to $600 million

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Golden Finance reported that on July 9, MARA Holdings’ subsidiary Volt Texas signed an agreement with HIF USA to acquire most of the equity in MAT 1177 LLC, which holds the Texas data infrastructure campus project, retaining only a portion of the minority equity for the seller. The project company has a memorandum of understanding with an electric utility, planning to supply the campus with up to 2000 megawatts of power to build a large-scale digital infrastructure campus that can support high-performance computing and Bitcoin mining. The transaction consideration will be paid in installments by milestones; if all development milestones are completed, the total acquisition amount will be up to $600 million. The execution of the land acquisition, power connection, and subsequent data center lease agreements will trigger the installment payment obligations.
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