Mara Group
MARA Holdings Inc. (NASDAQ: MARA) is a digital energy and infrastructure company that owns ~2.2 GW of power capacity, operates data centers, and runs Bitcoin mining and HPC/AI compute, serving hyperscale enterprise tenants, European enterprises via its Exaion subsidiary, and miners via proprietary MARAFW firmware.
- Company typePublic
- Founded2010
- HeadquartersDubai, United Arab Emirates
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
What Mara Group does
MARA Holdings Inc. (NASDAQ: MARA) is a digital energy and infrastructure company that owns and operates power generation assets, data centers, and high-performance computing capacity at the intersection of energy, compute, and digital capital. Originally founded in 2010 as Marathon Digital Holdings and rebranded to MARA Holdings in 2024, the company has evolved from a pure-play Bitcoin miner into a vertically integrated platform with approximately 2.2 GW of owned and operated power capacity across PJM, ERCOT, SPP, and international markets following the announced $1.5 billion acquisition of Long Ridge Energy & Power (a 505 MW combined-cycle gas plant in Hannibal, Ohio).
The company's technology stack centers on proprietary MARAFW firmware and the MARA UCB 2100 control board for Bitmain ASIC miners (delivering documented up to 35% overclocking, 99% uptime, and 25-29 W/TH efficiency), supplemented by the MARATools fleet management platform. The 64%-owned Exaion subsidiary operates four Tier I-IV data centers in France and Canada with quantum computing capability for European enterprise and public sector customers, while MARA Cloud provides AI inference services built on third-party open-source models (MARA does not develop proprietary generative AI models). The Long Ridge plant adds 200 MW of immediately available data center capacity on 1,600+ contiguous acres with 856 trillion BTU of proven gas reserves, and the Starwood Digital Ventures joint venture targets ~1 GW near-term IT capacity with a pathway to more than 2.5 GW.
MARA's revenue model combines four streams: (1) Bitcoin mining using owned power and proprietary firmware, which can be flexibly redirected to AI/HPC workloads; (2) data center colocation and managed HPC/AI services to enterprise and hyperscale customers via direct enterprise field sales and the Starwood SDV channel; (3) power generation sales, with 76% of Long Ridge output (382 MW) locked under swap agreements at approximately $38.80/MWh against operating costs below $15/MWh; and (4) MARAFW licensing on a 2.0% of hashrate developer fee or lifetime license basis. Customer segments span hyperscale AI/enterprise tenants, Bitcoin miners, European enterprises and public sector (via Exaion), and upstream energy producers (via NGON gas-to-power). Note: the input data also contains a separate firmographics block describing "Mara Group" as a pan-African multi-sector conglomerate founded in 1996 in Dubai with 10,000+ employees; this appears to be a data mismatch, as all other sources consistently describe MARA Holdings Inc. as a U.S.-domiciled, NASDAQ-listed company founded in 2010.
Mara Group firmographics
Firmographics- Name
- Mara Group
- Legal name
- MARA Holdings, Inc.
- Website
- https://mara.com
- Company type
- Public
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- MARA Holdings Inc. (NASDAQ: MARA) is a digital energy and infrastructure company that owns ~2.2 GW of power capacity, operates data centers, and runs Bitcoin mining and HPC/AI compute, serving hyperscale enterprise tenants, European enterprises via its Exaion subsidiary, and miners via proprietary MARAFW firmware.
- Ownership category
- akta.pro rank
Where Mara Group is headquartered
LocationHeadquarters
- HQ city
- Dubai
- HQ country
- United Arab Emirates
- HQ region
- Middle East
Offices6 records
Markets served
Mara Group business model
Business model- GTM type
- B2B
- Offering type
- Services
Revenue model
- Bitcoin Mining: Primary revenue stream from Bitcoin mining operations using proprietary firmware and optimized hardware. Mining serves as flexible workload that can be dynamically allocated or redirected based on market conditions and customer demand.
- Data Center Colocation & HPC Services: Revenue from providing data center capacity to enterprise, hyperscale, and AI/HPC customers. Services include colocation, managed AI compute, and secure cloud infrastructure. The company is developing AI campuses capable of serving premium workloads.
- Power Generation & Sales: Revenue from owned power generation assets including the Long Ridge 505 MW combined-cycle gas plant. Currently 382 MW (76% of capacity) is sold under swap agreements at ~$38.80/MWh. Generation also supports behind-the-meter data center operations.
- MARAFW Licensing: Firmware licensing revenue from MARATech. License fee calculated as percentage of mining device hashrate. Standard offering includes 2.0% developer fee; Lifetime License option eliminates developer fees for enterprise customers with >0.5 MW deployments.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Pay-as-you-go | Standard MARAFW licensing with developer fee |
| One time/ perpetual license | Multi-year contract | Lifetime License (LTL) for MARAFW and UCB 2100 |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Mara Group product offering
Product offeringCore offering
Mara Group is a pan-African multi-sector business with extensive operating experience in both African and international markets. Specific sector offerings are not detailed in the available source data; documented activity includes the 2017 acquisition of messaging platform Nimbuzz.
Product overview
MARA Holdings operates a diversified digital energy and infrastructure platform with multiple integrated products and services. The core offering combines energy asset ownership (power plants, gas-to-power generation) with digital infrastructure (data centers, HPC/AI compute). Key products include MARAFW and MARA UCB 2100 for Bitcoin mining optimization, MARATools for fleet management, and MARA Cloud for AI inference services. The company also holds a 64% stake in Exaion, which provides enterprise-grade HPC data centers across Europe and Canada with quantum computing capabilities. MARA's unique model enables flexible compute allocation across workloads including Bitcoin mining and AI/HPC, with the ability to toggle between workloads based on market conditions and return energy to the grid when needed. The platform also includes MARA Slipstream and the MARA Foundation for Bitcoin initiatives.
Differentiator
Problem solved
Functional benefit
Brands
- MARAFW: Custom firmware designed to optimize the individual chip settings of Bitcoin miners, improving their performance and efficiency while stabilizing operations.
- MARA UCB 2100
- MARATools
- MARA Slipstream
- MARA Foundation
Products and services
- Nimbuzz Messaging and VoIP platform acquired by Mara Group on 2017-03-23 as part of the conglomerate's technology holdings.
Quantifiable outcome
- 65% increase in owned power capacity to ~2.2 GW after Long Ridge acquisition
- +6 more outcomes
Companies that use Mara Group
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles1 record
Mara Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability6 records
Feature5 records
Mara Group partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Starwood Capital Group / Starwood Digital Ventures (SDV)coreStrategic joint venture to convert and expand select MARA sites into next-generation digital infrastructure for enterprise, hyperscale, and AI customers. MARA contributes power-rich data center sites; SDV leads design, development, tenant sourcing, construction, and operations. Expected to deliver ~1 GW near-term IT capacity with pathway to 2.5+ GW. MARA has option to invest up to 50% in joint venture projects.
- EDF Pulse Ventures / EDF GroupcoreMARA acquired 64% stake in Exaion, EDF's subsidiary for high-performance computing data centers and secure cloud/AI infrastructure. EDF Group remains a minority shareholder and customer. Exaion board includes representatives from MARA (including Fred Thiel, CEO), EDF Pulse Ventures, and NJJ. Transaction completed following regulatory approvals.
- NGON (Natural Gas Optimization Network)corePartnership for gas-to-power data center deployments using stranded associated natural gas. Expanded from 25 MW to 50 MW capacity across Texas and North Dakota sites as of December 2025. NGON provides gas-to-power infrastructure while MARA deploys data centers and mining operations. Sites among lowest operating-cost assets in MARA's global portfolio.
Scale indicators15 records
Recent moves7 records
Expansion highlights7 records
Mara Group competitors and assessment
Company assessmentDirect peers
- CleanSpark:
- Riot Platforms: Riot Platforms is a large-cap Bitcoin mining operator with significant hash rate and power infrastructure concentrated in Texas. Like MARA, Riot is exploring AI/HPC data center opportunities and operates at the intersection of energy and compute, making it the most directly comparable peer in scale and strategic direction.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Mara Group social profiles
Digital presenceMara Group compliance and trust
Trust signalCompliance2 records
Mara Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mara Group leadership team
Management profileNumber of profiles
Profiles4 records
Mara Group subsidiaries and ownership
Company hierarchySubsidiaries4 records
Mara Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mara Group M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mara Group
What does Mara Group do?
Mara Group is a pan-African multi-sector business with extensive operating experience in both African and international markets. Specific sector offerings are not detailed in the available source data; documented activity includes the 2017 acquisition of messaging platform Nimbuzz.
Is Mara Group a public or private company?
Mara Group is a public company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Mara Group founded?
Mara Group was founded in 2010. It employs 5,001 to 10,000 people.
Where is Mara Group based?
Mara Group is headquartered in Dubai, United Arab Emirates, in the Middle East region.
How does Mara Group make money?
Four revenue lines are on record. Bitcoin Mining is the primary driver. The others are data Center Colocation & HPC Services, power Generation & Sales and MARAFW Licensing.
Who are Mara Group's main competitors?
Direct peers on record are CleanSpark and Riot Platforms.
Does Mara Group have an API?
Yes. MARA Cloud provides an inference services API accessible via registered user accounts. Users can access the Service through the MARA dashboard where accounts are automatically charged via the payment processor for usage-based fees. The Service includes cloud compute and inference services. MARA explicitly states it does not develop or provide proprietary generative AI models - all such models are subject to third-party terms. Inputs and outputs (User AI Data) are not retained by MARA. Service Usage Data (query logs) may be collected for administrative services, product development, improvement, and fraud/abuse investigation. Third-party marketplace registration is also supported for customers who register through authorized third-party channels.