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MARA CEO Fred Thiel said in an interview with Natalie Brunell that revenue generated per unit of power by AI data centers is significantly higher than that of Bitcoin mining. MARA currently has more than 4 GW of energy capacity, and before the related infrastructure is converted into AI data centers, the company can continue using these facilities to mine. Thiel also said that MARA is not a digital asset treasury company, and its Bitcoin holdings are part of a cash management strategy. The company previously sold about 20k BTC, with proceeds used to repurchase discounted bonds and reduce its debt burden. He said he has not lost confidence in Bitcoin, but believes the main shortcoming of Bitcoin as an asset is that it cannot generate yield.