MARA CEO: AI Power Revenue Surpasses Bitcoin Mining, Will Continue Mining in Low-Cost Energy Regions

Odaily reports that MARA CEO Fred Thiel stated that electricity used for AI infrastructure can generate higher returns than Bitcoin mining, and the same power input into AI can bring in more revenue. MARA still plans to continue mining in regions where low-cost or surplus energy is economically attractive.

Thiel noted that MARA began acquiring sites previously hosting miners from late 2023 to early 2024, and by the end of 2024, will own infrastructure supporting around 70% of its operations. The company will then shift its focus towards energy assets.

MARA has partnered with Starwood to build a platform, aiming for about 1 gigawatt of computing capacity in the near term, and planning for more than 2.5 gigawatts. In July, MARA also agreed to acquire a site in Texas that can access about 2 gigawatts of electricity for digital infrastructure.