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Bitcoin Updates: EDF's HPC Prohibition in MARA Agreement Raises Concerns Over France's Technological Independence: Report

Bitcoin Updates: EDF's HPC Prohibition in MARA Agreement Raises Concerns Over France's Technological Independence: Report

Bitget-RWA2025/10/31 15:14
By: Bitget-RWA
- Marathon Digital acquires 64% of EDF’s Exaion for $168M, expanding into AI/HPC amid French tech sovereignty concerns. - The deal restricts EDF from HPC for two years, hindering France’s AI ambitions and raising corporate control debates. - MARA’s $500M funding and industry trends highlight Bitcoin miners diversifying into higher-margin AI infrastructure. - Mixed market reactions and analyst caution reflect uncertainties in MARA’s strategy despite Bitcoin mining leadership. - France’s Macron administratio

Marathon Digital Holdings (MARA), a prominent

mining company, has come under both regulatory and industry attention after purchasing a 64% share in Exaion, a subsidiary of Electricité de France (EDF), for $168 million, as reported by a . Announced in August, this acquisition is part of MARA’s larger plan to branch out into artificial intelligence (AI) and high-performance computing (HPC) infrastructure. However, the report points out that the deal may prevent EDF from participating in HPC operations for two years, sparking concerns about France’s technological and energy independence.

Bitcoin Updates: EDF's HPC Prohibition in MARA Agreement Raises Concerns Over France's Technological Independence: Report image 0

By acquiring Exaion, which operates as EDF’s data center arm,

is now positioned to utilize its infrastructure for AI and cloud-based computing. The Cryptobriefing report notes that EDF’s inability to engage in HPC after the transaction could limit its competitiveness in the fast-changing technology sector. Experts suggest that such limitations might slow down EDF’s ambitions to build AI expertise, an area where France has been striving for more self-reliance amid international competition.

MARA’s move into AI reflects a wider industry shift, as firms look to broaden their income sources given the unpredictable nature of Bitcoin prices. Earlier this month, TeraWulf, another significant mining company, revealed a 25-year partnership with Fluidstack, which is backed by Google, to develop 168 MW of IT infrastructure in Texas, according to

. Following this news, TeraWulf’s shares jumped by 17%, whereas MARA’s stock dropped nearly 3.5%, indicating mixed reactions from investors.

The Exaion acquisition highlights MARA’s assertive approach to raising capital. In October, the company obtained $500 million through convertible senior notes to support its Abernathy, Texas facility and HPC initiatives. This came after a $3 billion debt financing plan in September, showing its commitment to expanding infrastructure beyond just Bitcoin mining. Meanwhile, TeraWulf’s recent $500 million fundraising has strengthened its standing in the AI-focused data center sector, as reported by

, with its stock trading close to recent highs despite a slight dip after the announcement.

Industry experts remain wary. Guggenheim analyst Jonathan Lee maintained a "Hold" rating on MARA, pointing to an uncertain strategic direction despite the company’s leadership in Bitcoin mining and the Exaion purchase, according to

. Lee mentioned that MARA’s share price is still closely tied to Bitcoin’s value, which has dropped 10% since reaching a high above $125,000 earlier this month. On the other hand, Cantor Fitzgerald increased its price target to $30, citing robust mining performance and Bitcoin reserves, which are the largest among publicly traded firms.

The possible two-year ban on EDF’s HPC activities also ties into larger discussions about corporate influence over essential infrastructure. President Emmanuel Macron’s government has stressed the importance of energy and technological independence, especially as other European countries like Germany and the Netherlands ramp up investments in AI and eco-friendly data centers. EDF’s restricted ability to pursue HPC during this time could hamper France’s advancement in these fields, while MARA secures a valuable asset in the U.S., according to the Cryptobriefing report.

As MARA faces both regulatory and market headwinds, its simultaneous focus on Bitcoin mining and AI infrastructure reflects the shifting landscape of the industry. With last year’s Bitcoin halving reducing mining rewards and raising costs, companies are increasingly turning to higher-margin services. The Exaion acquisition, though controversial, is a clear example of this trend, even as it raises significant geopolitical and economic issues for EDF and its stakeholders.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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