The largest US public miner, MARA Holdings, continues its aggressive expansion into the high-performance computing segment. The company has signed an agreement to acquire a strategic land parcel with energy infrastructure in Matagorda County, Texas. The total transaction value could reach $600 million, subject to the completion of all project development phases.
Deal Details and Infrastructure Potential
The site, spanning over 1,200 acres (~486 hectares), is located approximately 145 km southwest of Houston. The deal was closed on July 2 through MARA's subsidiary, Volt Texas LLC. The seller was the US division of HIF Global, a developer of eco-friendly fuel. Initially intended for large-scale electromethanol production, the facility will now be repurposed for next-generation data centers.
Financing will be phased, tied to key milestones: obtaining regulatory approvals, completing the land purchase (which is currently under contract), securing the power supply permit, and, crucially, signing a data center lease agreement with a third-party tenant. HIF will retain a minority stake in the project and participate in its further development, having received approval to begin work on the distribution node for grid connection.
MARA expects to gain access to 1 GW of initial power by October 2027 and increase that figure 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.
Strategic Pivot: From Mining to AI Infrastructure
This deal is just one part of MARA's large-scale transformation. In April, the company agreed to purchase Long Ridge Energy & Power, including a 505 MW gas-fired power plant in Ohio and over 1,600 acres of land for a digital infrastructure campus. The cost of this asset is approximately $1.5 billion, including debt, with closing expected in the second half of 2026.
In February, the miner announced a strategic partnership with Starwood Capital Group aimed at converting its own sites into AI infrastructure. The platform is designed for approximately 1 GW of IT capacity, with potential growth to 2.5 GW.
After the full launch of the Matagorda facility and the closing of the Long Ridge deal, MARA's potential energy portfolio capacity will more than double, reaching approximately 4.8 GW. This is not just diversification but a fundamental shift in the business model: the company is transforming from a pure miner into an operator of large-scale energy and computing infrastructure.
Bitdeer Builds US Factory
Against this backdrop, another player, Bitdeer, is betting on vertical integration. The company has begun construction of the first US production facility for its proprietary SEALMINER mining machines. The $36 million plant in Sparks, Nevada, is expected to become operational by the end of 2026.
The facility will cover approximately 17,400 square meters and have a production capacity of 10,000 SEALMINER units per month. The project will create around 70 jobs. The plant will complement Bitdeer's existing US data centers and its hub in San Jose, California. Until now, the firm's US presence was limited to bitcoin mining and AI infrastructure.
Profitability Pressure and Diversification
Construction began as the industry faces significant profitability pressure. According to Hashrate Index, at the time of writing, the hashprice stands at $29.6 per PH/s per day, which is 6% below the historical high of around $27.8 recorded in February. In response, Bitdeer is pursuing a vertical integration strategy, developing its own miners and deploying them within its fleet. In April, the firm launched mass production of the A4 series with an efficiency of 9.45 J/TH.
Bitdeer is also developing its AI division: in April, the miner reported $69 million in ready revenue from its AI Cloud unit, which provides computing infrastructure for artificial intelligence training.
Cipher Digital: Stock Sales and Profile Change
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. The proposed transaction date is July 8. The filing is tied to a Rule 10b5-1 plan adopted on December 19, 2025. In its annual report, Cipher disclosed that Page's plan allows for the potential sale of up to 1.5 million shares by December 24, 2026.
Cipher is restructuring its business from a bitcoin miner into a developer of data centers for AI and high-performance computing (HPC). In February, the company changed its name from Cipher Mining to Cipher Digital 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 professional opinion: We are witnessing a tectonic shift in the industry. Miners who once fought for every watt to mine bitcoin are now becoming key players in the AI infrastructure market. MARA, Bitdeer, and Cipher Digital are just the tip of the iceberg. Those who manage to restructure their energy base and establish partnerships with hyperscalers will gain a tremendous advantage in the post-halving era, as the economics of mining become increasingly less attractive.