Marathon Digital Holdings (MARA), the largest Bitcoin mining company, is in advanced negotiations to acquire a 64% majority stake in Exaion, a high-performance computing (HPC) and artificial intelligence (AI) infrastructure company. Exaion is a subsidiary of Électricité de France (EDF), the French state-owned energy giant. The deal, valued at approximately $168 million, represents MARA's largest expansion into AI and HPC sectors. The transaction is expected to be completed in the fourth quarter of 2025 or early 2026, subject to regulatory approvals in France and Canada. Exaion was originally established to repurpose EDF’s supercomputers and has become a notable player in HPC and blockchain services. MARA’s French subsidiary, MARA France SAS, will execute the acquisition. This move comes amid increasing challenges in the Bitcoin mining industry and reflects MARA's strategic diversification into AI and HPC technologies.