Woofun AI reports that MARA Holdings shares increased by approximately 18% in early Thursday trading following the announcement of a strategic land acquisition in Texas. The company plans to develop a digital infrastructure park on a 1,200-acre site in Matagorda County, southwest of Houston, dedicated to high-performance computing and Bitcoin mining operations.

The project involves a phased investment totaling up to $600 million, with payments contingent upon regulatory approvals, land acquisition, electricity connections, and final contracts with data center tenants. MARA targets reaching 1 gigawatt of capacity by October 2027 and 2 gigawatts by the second quarter of 2028, subject to ERCOT approval.