MARA Holdings, Inc. (NASDAQ: MARA) has signed a definitive agreement to acquire a large-scale powered land site in Matagorda County, Texas, from HIF USA LLC, the companies announced July 9.

The site spans more than 1,200 acres and is located approximately 90 miles southwest of Houston. It is expected to provide access to up to 1 GW of grid capacity by October 2027, expanding to up to 2 GW by April 2028. HIF will retain a minority ownership interest in the project upon execution of a lease with a high-performance computing (HPC) tenant.

MARA said it intends to develop the site through its previously announced partnership with Starwood Digital Ventures as a digital infrastructure campus capable of supporting HPC workloads and Bitcoin mining operations. Phased construction is expected to begin in 2026, contingent on regulatory approvals.

Upon full energization, MARA said the site is expected to bring its total potential power capacity to approximately 4.8 GW across its portfolio, which includes the anticipated close of its previously announced agreement to acquire Long Ridge Energy & Power.

"This transaction advances our strategy of securing strategically located infrastructure assets capable of supporting high-performance compute and bitcoin workloads," said Fred Thiel, MARA's chairman and CEO.

Renato Pereira, CEO of HIF USA, said the company has issued a notice to proceed for construction on a switchyard to connect the site to the grid, while continuing work on advanced fuels facilities on other Texas sites.

MARA stated it has invested more than $1.2 billion in Texas to date and said the completed campus is expected to support thousands of construction and permanent full-time jobs. HIF said the transaction allows it to unlock value from infrastructure assets while maintaining participation in the site's future development.