MARA Holdings Outlines AI and Energy Shift with MPLX LOI; Q3 Results Impress
MPLX will supply natural gas from its Delaware Basin processing plants to MARA’s planned gas-fired power facilities.
What to know:
- MARA Holdings and MPLX (a spinoff of oil exploration giant Marathon Petroleum) signed a letter of intent to develop integrated power generation and data center campuses in West Texas, starting with 400 MW and scalable to 1.5 GW.
- The announcement came alongside MARA's third quarter results, which showed net income of $123 million and adjusted EBITDA surging 1,671% to $395.6 million.
- MARA is lower by 2.3% in early action alongside a sizable sell-off in crypto and traditional markets.
MARA Holdings (MARA) and MPLX LP (MPLX) announced a new collaboration to build integrated power generation and data center campuses in West Texas, marking a major step in energy and computing infrastructure development.
Under a newly signed letter of intent, MPLX will supply natural gas from its Delaware Basin processing plants to MARA’s planned gas-fired power facilities, which will initially deliver 400 MW of electricity with potential expansion to 1.5 GW.
The power will serve MARA’s data centers and also enhance energy reliability for MPLX’s regional operations. MPLX CEO Maryann Mannen said the deal strengthens the company’s natural gas value chain, while MARA CEO Fred Thiel emphasized the benefits of leveraging local low-cost gas to fuel efficient, high-performance data centers. MARA expects the project to evolve from supporting mining operations to advanced AI and high-performance computing workloads.
Alongside the collaboration, MARA reported third quarter 2025 results.
Third quarter revenues of $252 million, were up 92% year-over-year. Net income of $123 million was up from a net loss of $125 million in the same period last year. Adjusted EBITDA rose by 1,671% to $395.6 million.
The company’s energized hashrate climbed 64% to 60.4 EH/s; bitcoin holdings nearly doubled to 52,850.
MARA is lower by 2.3% in early trading as crypto and traditional markets are sharply lower on Tuesday.
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Bitcoin slips, crypto stocks suffer steep declines, as tax-loss selling drives action, analysts say
Digital asset treasury companies — the year's worst performers — were also hardest hit on Tuesday.
需要了解的:
- Bitcoin was lower by a bit more than 1% to just below $88,000 on Tuesday.
- Crypto-related stocks were suffering far larger declines.
- Analysts suggest tax-loss harvesting and low liquidity are contributing to the action in crypto markets as the year ends.
- Some analysts remain cautiously optimistic about a potential rally, though significant recovery is not expected until liquidity returns in January.
