According to the press release, EDF has retained a minority stake in the former subsidiary. As part of the transaction, MARA also entered into a strategic partnership with NJJ Capital, owned by French billionaire Xavier Niel. NJJ Capital will acquire a 10% stake in the miner’s financial division.

It’s time. MARA’s transaction to acquire a 64% stake in EDF subsidiary Exaion has been completed
It’s time. MARA’s transaction to acquire a 64% stake in EDF subsidiary Exaion has been completed. X

Exaion’s board will include three representatives from MARA, three from EDF Pulse Ventures, and one from NJJ. The board will also include Exaion’s CEO and co-founder, MARA CEO Fred Thiel, and Xavier Niel.

Source: BitcoinMiningStock
Source: BitcoinMiningStock

The deal comes as MARA faces growing pressure in both the mining and AI infrastructure markets. In January, the company lost its position as the leading public bitcoin miner by total hashrate, falling behind Bitdeer. MARA has also dropped to eighth place by market capitalization at around $3 billion, down sharply from approximately $8.5 billion in mid-October, as competitors such as IREN and TeraWulf expand aggressively into AI-related services.