05:52 AM EDT, 08/12/2025 (MT Newswires) -- MARA Holdings ( MARA ) and EDF Pulse Ventures said late Monday they have signed a deal under which MARA will acquire a 64% stake in EDF unit Exaion.

MARA has an option to boost its ownership in Exaion up to 75% by 2027. EDF will remain a client of Exaion and retain a minority interest in the business, the companies said.

Under the terms of the deal, MARA would invest about $168 million in cash upfront to buy a 64% stake in Exaion, with the opportunity to invest another $127 million to acquire an additional 11% interest, subject to certain milestones being achieved.

The companies expect the deal to close in or around Q4.

MARA shares were down 1% in recent premarket activity Tuesday.