Overview
- The partnership targets about 1 gigawatt of near-term computing capacity with plans to scale beyond 2.5 gigawatts over time.
- Starwood Digital Ventures will lead design, construction and tenant sourcing, with the projects jointly financed and operated by the partners.
- Analysts said any earnings shift hinges on securing long-term AI or enterprise leases, with MARA holding 10%–50% equity per site and Starwood serving as managing member.
- CEO Fred Thiel said Bitcoin remains a core pillar of the company’s strategy even as it diversifies into hosting AI and enterprise compute.
- MARA reported Q4 revenue of $202.3 million, down 6% year over year, and a $1.7 billion net loss driven by digital asset valuation markdowns, while shares climbed roughly 15%–17% after-hours on the announcement.