The largest US public bitcoin miner, MARA Holdings, is making a strategic move by acquiring a land parcel in Matagorda County, Texas. The total transaction value could reach $600 million, but only upon successful completion of all project development stages. This is not just a land purchase — it is a bid for dominance in high-performance computing (HPC) and artificial intelligence.
The site, spanning over 1,200 acres (approximately 486 hectares), is located 145 km southwest of Houston. The deal was struck with HIF USA LLC, the American subsidiary of sustainable fuel developer HIF Global, and closed on July 2 through MARA's subsidiary, Volt Texas LLC. Originally planned for a large-scale electromethanol production facility, the site's fate is now radically changing.
Details and Financing Stages
MARA will make payments in stages, tying each tranche to key project milestones: obtaining regulatory approval, completing the land purchase (which is currently under contract), securing the power supply permit, and, most importantly, signing a data center lease agreement with a third-party tenant. After the lease is signed, HIF will retain a minority stake and participate in development, partially monetizing its infrastructure.
MARA expects to gain access to 1 GW of initial capacity by October 2027 and increase that to 2 GW by April 2028. Construction is planned for this year. The company has already stated that there is interest from potential tenants in the high-performance computing segment, confirming demand for such hybrid capacity.
Strategic Expansion of MARA
This deal is just part of a massive transformation. In April, MARA agreed to purchase Long Ridge Energy & Power for $1.5 billion, which includes a 505 MW gas-fired power plant in Ohio and over 1,600 acres for a digital infrastructure campus. In February, a strategic alliance with Starwood Capital Group was announced to convert MARA's sites into AI infrastructure with a potential of up to 2.5 GW of IT capacity.
After the full launch of the Matagorda facility and the closing of the Long Ridge deal, MARA's potential energy capacity will more than double — to approximately 4.8 GW. This transforms the company from a simple miner into a major energy and infrastructure player.
Bitdeer Launches Its Own Miner Production
In parallel, mining company Bitdeer has begun construction of the first US production facility for its own SEALMINER mining machines. The $36 million plant in Sparks, Nevada, is expected to be operational by the end of 2026. The facility will cover approximately 17,400 square meters, with a production capacity of 10,000 units per month, creating around 70 jobs.
This move is a response to pressure on industry profitability. At the time of writing, the hashprice stands at $29.6 per PH/s per day, which is 6% below the all-time high. Bitdeer is pursuing a vertical integration strategy, developing its own chips and deploying them in its fleet, reducing dependence on external suppliers.
Diversification and AI Direction
Bitdeer is also actively developing its AI cloud. In April, the company reported $69 million in revenue from its AI Cloud division, which provides computing infrastructure for artificial intelligence training. Additionally, negotiations are underway to host third-party equipment at the Tydal facility in Norway.
Cipher Digital: From Mining to Data Centers
Cipher Digital CEO Tyler Page filed a Form 144 with the SEC regarding the proposed sale of 112,500 company shares worth approximately $2.38 million. This is part of a Rule 10b5-1 plan adopted in December 2025, which allows for the sale of up to 1.5 million shares through the end of 2026.
Cipher Digital is completely restructuring its business from a bitcoin miner into a developer of data centers for AI and HPC. In February, the company changed its name from Cipher Mining and reported 600 MW of contracted HPC capacity under two lease agreements, including a 15-year, 300 MW agreement with Amazon Web Services and a 10-year, 300 MW agreement with Fluidstack and Google.
My expert opinion: We are witnessing a tectonic shift in the industry. Major miners are no longer just mining bitcoin — they are becoming key suppliers of infrastructure for AI. Those who manage to convert their energy capacity into HPC centers will gain a huge competitive advantage. However, risks remain: high capital intensity and dependence on tenants could lead to financial turmoil if demand for AI computing slows down.