MARA, MPLX Team Up in Texas Amid Strong Q3 Earnings

MARA Holdings and MPLX have signed a letter of intent to develop integrated power generation and data center campuses in West Texas, starting with 400 MW of electricity capacity and the potential to scale up to 1.5 GW. This collaboration aims to utilize natural gas from MPLX's Delaware Basin facilities to power MARA's data centers, enhancing energy reliability while supporting the transition towards advanced AI and high-performance computing. MARA's Q3 results showed remarkable financial improvement, with revenues increasing by 92% to $252 million, a net income of $123 million, and adjusted EBITDA soaring by 1,671% to $395.6 million. Additionally, MARA's hashrate climbed by 64%, and bitcoin holdings nearly doubled to 52,850. Despite these strong results, MARA's stock declined by 2.3% in early trading amidst broader market sell-offs.

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