After Bitcoin miner MARA Holdings announced a partnership with Starwood Capital Group to convert part of its U.S. mines into data centers for enterprise cloud and AI clients, its stock price surged 17%. Starwood Digital Ventures will be responsible for design and construction, with the goal of delivering 1 gigawatt of capacity in the near term and eventually expanding to over 2.5 gigawatts. MARA CEO Fred Thiel stated that despite a 6% decline in the company's Q4 revenue to $202.3 million (partly due to a 14% drop in the average Bitcoin mining price), Bitcoin remains its core strategy.
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After Bitcoin miner MARA Holdings announced a partnership with Starwood Capital Group to convert part of its U.S. mines into data centers for enterprise cloud and AI clients, its stock price surged 17%. Starwood Digital Ventures will be responsible for design and construction, with the goal of delivering 1 gigawatt of capacity in the near term and eventually expanding to over 2.5 gigawatts. MARA CEO Fred Thiel stated that despite a 6% decline in the company's Q4 revenue to $202.3 million (partly due to a 14% drop in the average Bitcoin mining price), Bitcoin remains its core strategy.