Markets
What to know:
- MARA Holdings and MPLX (a spinoff of oil exploration giant Marathon Petroleum) signed a letter of intent to develop integrated power generation and data center campuses in West Texas, starting with 400 MW and scalable to 1.5 GW 🚀.
- The announcement came alongside MARA’s third quarter results, which showed net income of $123 million and adjusted EBITDA surging 1,671% to $395.6 million 📈.
- MARA is lower by 2.3% in early action alongside a sizable sell-off in crypto and traditional markets 🧨.
MARA Holdings (MARA) and MPLX LP (MPLX) have embarked on a grandiose venture to build integrated power generation and data center campuses in West Texas, a region previously known for its tumbleweed and existential despair. This collaboration marks a bold leap into the future, where energy and computing infrastructure entwine like lovers at a Gatsby-esque garden party 🌪️.
Under a newly signed letter of intent, MPLX will channel natural gas from its Delaware Basin processing plants to MARA’s planned gas-fired power facilities. These will initially deliver 400 MW of electricity, scalable to a dizzying 1.5 GW-a figure so large it might make even a Wall Street banker blush. The power will fuel MARA’s data centers and bolster energy reliability for MPLX’s operations, which is corporate speak for “let’s not blow up the grid this time.”
MPLX CEO Maryann Mannen declared the deal “strengthens the natural gas value chain,” while MARA CEO Fred Thiel waxed poetic about leveraging “local low-cost gas” to power efficient, high-performance data centers. One wonders if “low-cost” includes the existential toll of climate change, but why let facts spoil the party?
Meanwhile, MARA’s third quarter 2025 results arrived like a surprise inheritance: $252 million in revenue (up 92% YoY), $123 million net income (from a $125 million loss last year), and adjusted EBITDA skyrocketing 1,671% to $395.6 million 📊. The company’s energized hashrate climbed 64% to 60.4 EH/s, and bitcoin holdings nearly doubled to 52,850-a digital treasure hoard fit for a modern-day Scrooge McDuck.
Yet, in a twist worthy of a Shakespearean tragedy, MARA’s stock slumped 2.3% as crypto and traditional markets tanked. The lesson here? In the theater of capitalism, even roaring profits can’t save a company from the fickle whims of a market that adores irony more than fundamentals 🎭.
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2025-11-04 18:34