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21 Feb 2026, 10:53
Uzbekistan enters Central Asia’s BTC mining industry with first license approval
Uzbekistan has for the first time issued a permit to mine cryptocurrency in its territory, entering the region’s expanding coin minting market. The move puts an end to months of uncertainty, the newly licensed miner said, promising to “build the infrastructure of the future” in the country. Uzbekistan greenlights its first legal crypto mining project The Central Asian nation of Uzbekistan has issued its first permit for cryptocurrency mining to a private company, which plans to base its operations in the southwest Bukhara region. The mining firm, NexaGrid, has received the official authorization from the National Agency of Perspective Projects (NAPP) this week, local media reported late Friday. The government body, which is directly subordinated to Uzbek President Shavkat Mirziyoyev’s administration, is tasked with enforcing crypto regulations and licensing. The Tashkent-registered company was established in April 2025, with a statutory capital of 600 million Uzbekistani sums (around $50,000). In comments quoted by the news outlets Spot and UZ Daily, one of its two founders, Toymurod Sultonov, emphasized that his entity received the permit in a transparent procedure. In a celebratory post on the professional social network LinkedIn, the former civil servant and textile marketing analyst, turned crypto entrepreneur, also stressed: “This isn’t just about Bitcoin. It’s about the courage to go where no one has gone before. It’s about months of uncertainty, about the question ‘Why do you need this?’ It’s about risk, pressure, and silence, when no one else believes.” Private company to pioneer crypto mining in Uzbekistan Sultonov, who has 63% of Uzbekistan’s first licensed mining business, will be managing the enterprise, which will be set up in the Romitan district, with the help of his partner, Makhmudjon Rozimurodov, who owns 37% of its stock. Commenting further on the positive development, the new crypto executive also noted: “NexaGrid wasn’t born out of hype — it was born from the idea of building the infrastructure of the future here in Central Asia, where they usually say ‘it’s too early.’” The move is a significant step for Uzbekistan , which joins Central Asia’s growing crypto mining sector late and needs to catch up with some of its neighbors like Kazakhstan , Kyrgyzstan , and Turkmenistan . It has been more than two years since the NAPP adopted rules for issuing permits for digital currency mining in the fall of 2023. As per a report by its deputy head, Vyacheslav Pak, there were no legal crypto farms registered in the country in the years that followed. According to the regulations, legal entities can apply for authorization, provided they have a dedicated mining site that complies with safety standards. Companies are encouraged to use power generated by their own photovoltaic installations, and when they connect to the public grid, a separate meter must be installed. Miners are required to thoroughly inform the NAPP about all their activities and file transaction reports. Hidden mining and the minting of anonymous crypto assets are strictly prohibited. Their license applications must provide detailed information about the solar power plant and any electricity supply agreements, the technical specifications of the mining hardware, including its energy rating, as well as a list of the cryptocurrencies that will be minted and the addresses of the crypto wallets used. Submission of incomplete data and non-compliance with other relevant regulations may result in rejection of the application if the deficiencies are not corrected within a month after they have been established by Uzbek officials. Following a 15-day fee-free review process, permits are issued in the form of electronic certificates with QR codes. The licenses are valid for a period of five years, but can be suspended in case of violations for up to six months and even revoked by court order. The smartest crypto minds already read our newsletter. Want in? Join them .
21 Feb 2026, 10:51
Bitcoin Mining Difficulty Climbs 15% After Sharp February Drop
Bitcoin mining difficulty has increased by approximately 15% to 144.4 trillion, according to data from CoinWarz as of February 20. The adjustment fully recovers the 11% decline recorded earlier this month – the steepest drop since China’s mining ban in 2021. The previous decline followed severe winter storms across the United States in late January. The extreme weather disrupted power grids and forced major mining operations to temporarily shut down equipment. Network hashrate fell to roughly 198 exahashes per second (EH/s) from nearly 400 EH/s before gradually recovering as facilities came back online. How Difficulty Adjustment Restored Balance Bitcoin adjusts mining difficulty every 2,016 blocks, roughly every two weeks to maintain an average block time of ten minutes. When hashrate drops sharply, as it did during the storms, the protocol lowers difficulty to keep block production stable. When computing power returns, difficulty increases again. As American miners resumed operations after weather conditions stabilized, total network hashrate climbed. The algorithm responded with a 15% upward adjustment, restoring mining conditions to levels seen before the disruption. While higher difficulty strengthens network security, it also increases operational pressure on miners. Generating block rewards becomes more computationally expensive, squeezing margins for operators already managing tight energy costs. Miners Turned Downtime Into Revenue Interestingly, forced shutdowns did not necessarily translate into losses. Many US-based miners participate in demand response programs, allowing them to sell contracted electricity back to the grid during peak pricing events. LM Funding America reported redirecting power to the grid during Storm Fern and over the weekend, generating income that exceeded a quarter of its typical quarterly revenue from energy supply and consumption reduction programs. Mining equipment manufacturer Canaan Inc., which operates facilities in the United States, also confirmed that its sites reduced power consumption in coordination with grid partners during storm-related stress periods. US Remains the Center of Global Mining Power Since China’s 2021 mining ban, the United States has become the largest global Bitcoin mining hub. Large-scale operations are concentrated in states such as Texas and Georgia, benefiting from favorable regulations and energy infrastructure. According to data from the Cambridge Centre for Alternative Finance, the United States accounts for more than one-third of global Bitcoin hashrate. The January storm highlighted both vulnerability and adaptability. Geographic concentration means extreme weather can temporarily disrupt global mining output. Yet the rapid recovery to 144.4 trillion difficulty demonstrates how quickly the network can stabilize once conditions normalize. The episode underscores a broader structural dynamic: Bitcoin mining has become deeply intertwined with regional energy systems. While that creates exposure to local disruptions, it also positions miners as flexible energy participants capable of balancing grid demand during crises.
21 Feb 2026, 08:29
From Bitcoin To AI: IREN's GW-Scale Platform Is Built For Hyperscalers
Summary IREN is rapidly transforming from bitcoin mining to AI and HPC data center infrastructure, leveraging its energy assets for higher-margin growth. AI services revenue at IREN surged 137% quarter-over-quarter to $17.3 million, with gross margins of 86%, while bitcoin revenue and margins declined. IREN projects $3.4 billion in ARR for 2026, with $2.3 billion already under contract, anchored by a major Microsoft deal used as financing collateral. Expansion plans target 4.5 GW installed capacity, positioning IREN to capture significant AI infrastructure demand beyond the current 810 MW. As a bitcoin ( BTC-USD ) investor since 2018, when I first bought it driven by the belief in the future of digital transactions and its acceptance as a medium of exchange, I have a strong interest in the industry. This extends not only to cryptocurrency mining companies, but also to other cryptocurrencies operating in the market. However, that personal bias will no longer cloud my investment decisions (or at least that's what I hope). Today I choose to reward the transformation of cryptocurrency miners that seek to move into the AI and HPC data center business, leveraging their existing energy infrastructure. As I explained in previous articles, my view is that the most lucrative segment of the AI business is not in the data centers themselves but in the companies that provide both the infrastructure and the power required to operate them. To put it in numbers, for every $1 billion invested in data centers, $125 million of investment in energy is needed. Based on projected 2025 investment in data center equipment of $475 billion, that would imply an additional $56.25 billion in energy related investment. And in the same sector, we find bottlenecks that represent a significant opportunity: projects worth more than $750 billion could be delayed through 2030 due to these constraints, according to Coface . On that path, full of challenges and large capital investments for the reconversion, I believe IREN Limited (IREN) is one of the most stable and profitable companies among its peers. I have several reasons to think this way. One of the reasons, in my view, is the speed of adaptation. IREN appears to be well positioned in this race (perhaps not by much, but clearly in the areas that matter most). That adaptability is evident in something as simple as reporting a dedicated revenue line for AI cloud services. It may seem like something minor, but it isn't for me. For example, crypto miners transitioning towards this model, such as Riot Platforms ( RIOT ), Bitfarms ( BITF ), Cipher Mining (CIFR), or CleanSpark ( CLSK ), don't yet have effective recurring revenue. Companies with more advanced infrastructure, including Core Scientific ( CORZ ), MARA Holdings (MARA), and Hut 8 Corp. ( HUT ), have already reported revenue from AI hosting. However, the growth trend at IREN can be seen in Q2 FY26 , the most recent quarter presented at the beginning of this month: AI services revenue increased 137% (from $7.3 million to $17.3 million) compared to the previous quarter, while bitcoin revenue fell 28% (from $233 million to $167.4 million). The gross margin for AI services was 86% versus 62% for mining Bitcoin. Next I'll show you the trend in AI services compared to bitcoin mining over recent quarters. Author's Tabulations What I liked the most about IREN and its transformation is its 2026 projection to reach $3.4 billion in ARR, driven by a planned expansion of 140,000 GPUs. Of that $3.4 billion, $2.3 billion is already under contract. IREN's largest customer is Microsoft ( MSFT ), which announced a $100 billion capital investment plan through 2026 in its latest earnings presentation. Microsoft signed a deal totaling $9.7 billion, with $3.6 billion in financing secured under that contract at an interest rate below 6%. IREN What I liked most of Q2 FY26 The details of the agreement with Microsoft were explained in more detail during the Q2 FY26 earnings conference call. This is something that excites me, especially because it is a contract that has already been used as collateral for credit financing. I mean, there is a real long-term revenue projection behind it. But beyond Microsoft, I wanted to analyze the Q2 FY26 in detail, excluding non-recurring items, which led to a net loss of $155.4 million compared to the $384.6 million in the previous quarter. This was mainly due to a non-cash loss on financial instruments of $107.4 million, compared to an accounting gain of $665 million in the previous quarter. This significantly impacted the quarter's final result, along with other non-cash expenses related to debt conversion of $111.8 million. I've highlighted these items in the image below. IREN I also noted the $31.8 million impairment charge related to mining hardware due to the ongoing transition from ASICs to GPUs, specifically in British Columbia. When these temporary and often volatile accounting items are excluded, I believe adjusted EBITDA becomes more relevant. Adjusted EBITDA was $75.3 million, down from $91.7 million in the previous quarter, but up from $62.4 million in the same period last year, as shown on slide 25 of the earnings presentation . Beyond the accounting noise, the drop in bitcoin revenue also impacted the results, falling 23% quarter-over-quarter to $167.4 million. Bitcoin, in addition to the price decline so far in 2026, didn't show encouraging signs in the last quarter of 2025 either (not only on the revenue side, but also due to increased mining difficulty, which reached 155.9T last November). Price dynamics also played a role, falling from a high near 124k in October to the 88k-90k range in December. Now the bearish scenario is deeper, with prices below 70k. The decline in the last quarter of 2025 affected IREN, as it did all mining companies. In addition, the company reported a higher net electricity cost per bitcoin, rising to 34.4 compared to 21.4k in the same period of the previous year. Although bitcoin production increased from 1,347 to 1,664 over the same period, margins shrank due to the lower price. IREN My disillusionment with Bitcoin and the IREN's shift Bitcoin price estimates for 2026 remain highly dispersed between minimum and maximum projections. So far this year, it has fallen 21%, in line with broader 2026 market trends, where large technology companies are also experiencing corrections and there appears to be a rotation of capital toward more defensive sectors. Data by YCharts Last January, some analysts projected a minimum price of $75,000 for 2026, but now others are venturing to set a floor of $40,000 . I don't like to estimate commodity prices or try to predict the future (and Bitcoin isn't a commodity either). I don't like playing that game in finance. What I do prefer is understanding trends. In this case, my analysis is focused on identifying the long term trend. As I explained at the beginning of this article, I first invested in Bitcoin in 2018, but recently I concluded that it has failed to establish itself as a currency, at least not in the short term or within the timeframe I had imagined. Nor is it a metal that can be demanded by industries or held as a central bank reserve asset. I believe it functions more as a risk asset, driven by expectations of greater or lesser liquidity, and as a kind of global financial thermometer. There are other factors, such as uncertainty about the stance of the new Fed Chair or the heavy selling in the technology market so far this year, that could also negatively affect Bitcoin. The downward trend in Bitcoin, then, could be a problem for IREN's profitability in the short term. However, it's not entirely negative. On the contrary. In my opinion, IREN is progressing correctly in its conversion process. Of course, it would still benefit from strong income from Bitcoin mining for some time. But an ARR of $3.4 billion for 2026, I believe, validates the investment in fundamental infrastructure within the AI value chain. In my opinion, the most important segment is data centers. That's why I'm offsetting my disillusionment by investing in crypto miners that are making a strong bet on hosting the next generation of data centers. In the case of IREN, this is supported by its strong agreement with Microsoft, expectations of new contracts with hyperscalers, an upward trend in AI services revenue, and a solid portfolio of installed capacity. IREN's portfolio on its expansion plan towards 4.5 GW The $3.4 billion ARR projection would represent the use of 460 MW, which would imply only 10% of IREN's estimated future installed capacity of around 4.5 GW. Currently, installed capacity stands at 810 MW, but with the construction of two large facilities, the company expects to significantly increase its capacity, in line with other competing companies that have long term expansion plans. IREN These two large facilities are located in Texas and Oklahoma. In Texas, the facility is called Sweetwater and will include a 1.4 GW site, expected to be completed this year, as well as another phase projected for 2027, with an additional 600 MW. Texas will, then, represent 2 GW of capacity, with a direct connection to the ERCOT grid. Texas has been a key state for long term data center projects. It is also the state with the highest number of data centers in the country , followed only by Virginia. RIOT, while it doesn't have the same aspirations for a full transition to AI data centers, also bases its business transition on two large facilities in Texas, located in Corsicana and Rockdale. The other key state for IREN is Oklahoma, which would represent the remaining 1.6 GW following the acquisition of a new 200-acre site where a new data center will be built, also reflecting a healthy energy diversification. The power potential of nearly 4.5 GW positions IREN on a key hosting platform for AI data centers. It wouldn't be just any hosting provider; it would be the most powerful. I analyzed the business of the eight largest cryptocurrency miners undergoing this industry transformation. And IREN's capacity is the largest. Company GW IREN Limited 4.5 HUT 3.8 Cipher Mining 2.4 Bitfarms 2.1 CleanSpark 1.8 MARA 1.8 RIOT 1.8 Core Scientific 1.3 Each installed capacity figure includes its corresponding source link, based on the company's future projections. In HUT's case I was actually very optimistic, as I included 1.25 GW from exclusive site agreements that hadn't yet been officially announced. If I had excluded that capacity, HUT's projection would be 2.6 GW. So, IREN holds the strongest projected position in infrastructure terms. I believe the deal with Microsoft already reflects that leadership position. This is not a minor detail, because if Microsoft is only using 10% of the projected capacity, that implies significant room for additional contracts. Why would IREN build a 2 GW hyperscale data center in Texas, such as Sweetwater, without secured customers? Microsoft alone, in my view, is sufficient to support baseline profitability. Of course, I don't expect the company to rely on a single client. But I believe this is not a bad starting point. This concern was raised during the earnings call , and CEO Daniel Roberts responded that they are waiting for the right moment and the right customer to maximize long-term value. I consider this to make sense because there are long-term contracts that should guarantee stable revenue to offset the decline in bitcoin mining and ongoing capital investment. They should also be sufficient to generate solid long-term profitability. The market has yet to price in IREN's potential The deal with Microsoft and the projections to reach a solid medium term position in installed capacity have, I believe, already rewarded the company. In fact, IREN's stock price broke its historical high after the Microsoft contract was made public in early November, reaching a level above $75. In the last quarter of 2025 the stock lost some momentum due to the decline in Bitcoin prices. So far this year, IREN is down 1%, after a brief rally ahead of the earnings release at the beginning of the month. The post-earnings selling selloff, which I believe was driven by missed expectations and the non-cash costs I previously discussed, created an attractive correction and a more compelling entry point. Furthermore, the stock now trades at 30x earnings , almost in line with the industry average of 29.9x. When compared with some of the companies I've mentioned before, IREN trades at a relatively similar P/E ratio. HUT's P/E stands at 28.7x, while RIOT's is 37.8x. There are other companies in the sector, but since they are not profitable, the ratio can't be calculated. In this regard, IREN holds a relative advantage, as it remains profitable despite reporting net losses in the most recent quarter. What I'm trying to say about IREN is that, despite having the largest market capitalization and the greatest installed capacity among mining companies transitioning toward AI hosting, the stock doesn't appear to trade at a meaningful premium. One more piece of data: IREN's forward revenue growth of 147.3% is the highest among its peers. The closest competitor I found is CIFR, at 49.9%. Ergo, I believe IREN could revisit its November peak in the $70-$75 range, once it begins to realize its 2026 ARR projections and further monetizes its AI related revenue streams. Execution risk in the AI transition Since IREN aims to lead the market in installed power capacity for AI data centers, at least within the cryptocurrency mining industry, the risks associated with this strategy relate to execution timelines, capital costs, and profitability during the transition period. Fortunately, IREN maintains a strong financial position, with $3.26 billion in cash at the close of Q2 FY26, and relatively stable adjusted EBITDA. However, if the decline in Bitcoin deepens, margins could narrow further in the short term, putting pressure on cash flows while capital expenditures for new facilities continue. Ergo, bitcoin remains a relevant risk factor for the company. The operational transition and the buildout of digital infrastructure to establish an AI hosting platform may continue to generate volatility in non-monetary cash items, including potential hardware asset impairments, as observed in the last quarter. Such accounting adjustments could lead to earnings volatility and, at times, result in EPS coming in below consensus expectations. During this transition phase, as I've said before, I think it will be important to closely monitor adjusted EBITDA, particularly this year, as the Sweetwater facility is expected to be energized by the second quarter. The longer IREN takes to monetize its AI-related revenue streams, the greater the risk of eroding market confidence, while simultaneously exposing itself to competitive advances. I'm not concerned about whether IREN will be able to monetize its infrastructure or not. I simply want to add the risk of delaying that monetization. Conclusions IREN leads projected future installed capacity with 4.5 GW, ahead of its peers. The company has secured a long-term contract with Microsoft for $9.7 billion, with $2.33 billion in ARR already contracted, and an estimated $3.4 billion in ARR projected for 2026. His gradual exit from the bitcoin-focused model should be approached with caution, which is why I have incorporated this into the risk assessment. But I believe this transition represents the appropriate strategic shift, moving from volatile revenues tied to an intangible asset, toward more stable, long term revenue streams with hyperscalers (currently led by Microsoft). The planned 2 GW projected for Sweetwater in Texas, signals IREN's capacity to secure additional large scale contracts. Moreover, the 137% quarter-on-quarter increase in AI services revenue reinforces the view that this is only the beginning of the company's expansion. Based on all the factors discussed, I rate IREN as a Strong Buy, thinking of it as a long-term investment.
21 Feb 2026, 07:25
MARA Holdings’ Strategic Masterstroke: Acquiring 64% of EDF’s Exaion to Power AI Ambitions
BitcoinWorld MARA Holdings’ Strategic Masterstroke: Acquiring 64% of EDF’s Exaion to Power AI Ambitions In a move that redefines the convergence of cryptocurrency, energy, and high-performance computing, MARA Holdings has executed a pivotal acquisition of a majority stake in Exaion, a subsidiary of the French energy titan EDF. This transaction, confirmed on April 2, 2025, marks a decisive strategic shift for the former Bitcoin mining giant as it aggressively expands into the artificial intelligence and cloud services sectors. Consequently, this deal signals a broader industry trend where digital asset firms leverage their operational expertise to diversify into adjacent, high-growth technology markets. MARA Holdings’ Acquisition of Exaion: A Deal Analysis The acquisition grants MARA Holdings a controlling 64% stake in Exaion. Notably, Exaion operates as a digital services subsidiary of Électricité de France (EDF), one of the world’s largest electric utility companies. Exaion’s core business revolves around providing secure, low-carbon cloud computing, blockchain infrastructure, and high-performance computing (HPC) solutions. Therefore, this acquisition is not merely an asset purchase but a strategic entry into the European digital infrastructure and AI services landscape. For MARA Holdings, formerly known as Marathon Digital Holdings, this represents a calculated evolution. The company built its reputation as one of the largest publicly traded Bitcoin miners in North America. However, the firm has consistently signaled its intention to diversify its revenue streams beyond the cyclical nature of cryptocurrency mining. Subsequently, this deal provides immediate access to Exaion’s established client base, technical team, and, crucially, its direct ties to EDF’s vast, often green, energy resources. The Strategic Rationale Behind the Move Industry analysts point to several compelling reasons for this strategic pivot. Primarily, the demand for AI compute and cloud services is experiencing exponential growth, creating a market with more predictable long-term economics than pure-play Bitcoin mining. Furthermore, Exaion’s existing infrastructure and EDF partnership offer MARA Holdings a significant advantage: access to stable, potentially renewable power at scale. This is a critical factor for both energy-intensive AI workloads and sustainable corporate positioning. Strategic Element Benefit to MARA Holdings Market Diversification Reduces reliance on Bitcoin’s price volatility by entering the high-growth AI/cloud sector. Energy Advantage Gains indirect access to EDF’s power portfolio, ensuring cost stability and sustainability credentials. Geographic Expansion Establishes a firm operational foothold in the European Union’s regulated digital market. Technical Expertise Acquires Exaion’s seasoned team in HPC, blockchain, and secure cloud services. Context and Impact on the Broader Industry This acquisition occurs within a specific and transformative context for the cryptocurrency mining industry. Following the 2024 Bitcoin halving event, margins for miners have come under increased pressure, prompting a sector-wide search for additional applications for their core competencies in data center management and energy procurement. Simultaneously, the global scramble for AI computing power has created a shortage of advanced hardware and data center capacity. MARA Holdings’ move mirrors actions by other major miners. For instance, companies like Hut 8 and Hive Blockchain have also explored diversifying into HPC and AI services. However, the scale and nature of the Exaion deal—acquiring an established subsidiary of a national energy champion—is unprecedented. It demonstrates a mature corporate strategy focused on vertical integration and leveraging existing industrial partnerships. The impact is multifaceted. For the European tech sector, it introduces a well-capitalized player with deep expertise in large-scale, 24/7 computing operations. For the energy sector, it underscores the growing synergy between utility companies and tech firms seeking clean power for computation. Finally, for cryptocurrency investors, it represents a potential blueprint for mining companies to evolve into broader digital infrastructure providers. Expert Perspectives on the Deal’s Significance Financial and technology analysts have largely interpreted the deal as a forward-looking, defensive, and offensive maneuver. “This is a classic case of a company leveraging its operational moat—managing massive, energy-hungry computing arrays—to pivot into an adjacent, secular growth market,” noted Clara Dubois, a senior analyst at FinTech Insights Group. “MARA isn’t abandoning Bitcoin mining; it’s building a more resilient corporate architecture around it.” Another critical angle is regulatory. By partnering with a subsidiary of EDF, a state-influenced entity, MARA Holdings may navigate the complex European regulatory environment with greater ease. “The EDF connection provides a layer of credibility and stability in a region with strict data sovereignty and sustainability rules,” explained Jean-Luc Bernard, a Paris-based consultant on digital infrastructure. “It’s a strategic masterstroke for market entry.” Future Implications and Operational Synergies Looking ahead, the integration of Exaion will be the key challenge and opportunity. MARA Holdings will likely focus on several synergistic areas. First, it can potentially deploy its Bitcoin mining application-specific integrated circuits (ASICs) for certain computational tasks during off-peak AI demand periods, optimizing asset utilization. Second, Exaion’s cloud and blockchain platform could be enhanced with MARA’s expertise in security and network operations. The deal also opens new revenue models. Potential future services could include: AI-as-a-Service (AIaaS) platforms for European enterprises. Green Cloud Computing solutions powered by EDF’s nuclear and renewable assets. Blockchain Infrastructure for enterprise and government use cases beyond cryptocurrency. Ultimately, the success of this acquisition will be measured by MARA Holdings’ ability to generate substantial non-mining revenue. The company’s future quarterly reports will be scrutinized for growth in its “AI and Cloud” segment, which this deal is designed to create and accelerate. Conclusion The acquisition of a 64% stake in Exaion by MARA Holdings represents a landmark transaction with implications far beyond a simple corporate investment. It underscores a strategic evolution from a pure-play Bitcoin miner to a diversified digital infrastructure and high-performance computing entity. By leveraging Exaion’s established position, EDF’s energy backbone, and its own operational prowess, MARA Holdings is positioning itself at the intersection of three critical 21st-century industries: cryptocurrency, artificial intelligence, and sustainable energy. This move not only secures its future in a post-halving landscape but also establishes a compelling template for the entire sector’s potential maturation and diversification. FAQs Q1: What did MARA Holdings acquire? MARA Holdings acquired a controlling 64% majority stake in Exaion, the digital services and cloud computing subsidiary of the French state-backed electric utility company, Électricité de France (EDF). Q2: Why is MARA Holdings, a Bitcoin miner, buying a cloud computing company? The acquisition is a strategic diversification move. It allows MARA to leverage its expertise in large-scale computing operations to enter the high-growth markets of artificial intelligence (AI) and cloud services, reducing its dependence on the volatile Bitcoin mining rewards. Q3: What are the main benefits for MARA Holdings in this deal? Key benefits include: diversification into AI/cloud services, access to Exaion’s established European client base and technical team, potential synergies with stable energy supply via EDF, and a strategic foothold in the EU market. Q4: How does this affect the Bitcoin mining industry? This deal is seen as a bellwether for the industry, demonstrating a viable path for major miners to diversify their business models and utilize their core competencies in energy procurement and data center management for broader tech applications. Q5: Will MARA Holdings stop Bitcoin mining after this acquisition? No. The company has stated this is an expansion of its business, not a replacement. Bitcoin mining is expected to continue as a core operation, while the new AI and cloud services division grows as a separate, complementary revenue stream. This post MARA Holdings’ Strategic Masterstroke: Acquiring 64% of EDF’s Exaion to Power AI Ambitions first appeared on BitcoinWorld .
21 Feb 2026, 06:22
Japan SBI Launches On-Chain Bonds That Instantly Reward Investors With XRP
Japan-based financial group SBI Holdings has launched on-chain bonds that grant holders an equivalent amount of XRP. SBI announced the initiative yesterday, marking what it describes as the first-ever on-chain Security Token (ST) bond issuance. Visit Website
20 Feb 2026, 23:21
Bitcoin Network Mining Difficulty Sees Largest Percentage Increase Since 2021, Even As Crypto Market Weakness Persists
Bitcoin mining difficulty, a measure of how computationally hard it is for miners to find a new block on the leading blockchain, has risen 14.7% to 144.4 trillion in the latest adjustment.
