Marathon Digital Bets Its Bitcoin Mining Power Assets Can Fuel AI Data Center Growth

MarketBeat

Sat, May 30, 2026 astatine 6:02 PM CDT 7 min read

Key Points

• Interested successful Marathon Digital Holdings, Inc.? Here are 5 stocks we similar better.

• Marathon Digital is shifting from bitcoin mining toward AI and high-performance computing infrastructure by leveraging its ownership of land, power, and information halfway assets. CEO Fred Thiel said the strategy has been processing for much than 2 years.

• The institution has much than 1.1 gigawatts of energized power and sees galore of its sites arsenic charismatic to hyperscalers, neoclouds, and endeavor AI customers. Marathon besides says its capableness could turn beyond 2 gigawatts with expansions and the pending Long Ridge deal.

• Thiel said Marathon presently prefers a real property and leasing model implicit GPU-as-a-service due to the fact that it has amended economics and little superior burden. Near-term priorities see signing tenant leases and closing the Long Ridge transaction, which absorption says could beryllium a large shareholder worth operator this year.

• Game On: Wall Street's New Rules and Your Money

Marathon Digital (NASDAQ:MARA) Chairman and Chief Executive Officer Fred Thiel said the company’s propulsion into AI and high-performance computing infrastructure has been a multiyear process built connected its acquisition aggregating low-cost powerfulness and information halfway capableness for bitcoin mining.

Speaking astatine TD Cowen’s 54th Annual CMT Conference successful a fireside chat with communications infrastructure expert Michael Elias, Thiel said MARA’s strategy evolved from an asset-light bitcoin mining exemplary into ownership of land, powerfulness and information halfway assets. He said that displacement positioned the institution to measure AI infrastructure opportunities arsenic request for power-constrained computing capableness accelerated.

From Bitcoin Mining to Power Ownership

→ AI’s Biggest Bottleneck Could Make These 2 Stocks Soar

• Risk-Off: Global Trade Uncertainty Is Shaking Crypto, But Not These 2 Stocks

Thiel said MARA primitively focused connected bringing compute to hosted bitcoin mining sites alternatively than owning the underlying infrastructure. That attack made consciousness erstwhile the institution could give much superior straight to mining machines, helium said.

But by 2023, aft accent successful the bitcoin mining sector, MARA was capable to get “70% of each the capableness wherever we operated astatine little than replacement cost,” Thiel said. Those purchases gave the institution ownership of onshore and powerfulness astatine galore of its operating sites.

→ RTX Is Set to Revolutionize Munitions Manufacturing

• Crypto Skeptics Can Still Win Big With These Risk-Limiting ETFs

Thiel said MARA aboriginal added powerfulness assets, including a upwind farm, and began mining utilizing flare state successful lipid fields. He besides pointed to a 250-megawatt woody successful the United Arab Emirates, wherever MARA developed 2 information centers successful Abu Dhabi that usage immersion liquid cooling and run without aerial conditioning.