US Stock Market Move | Collaborating with Marriott to enter into AI infrastructure, MARA Holdings (MARA.US) surged more than 12% in early trading.

On Friday, MARA Holdings (MARA.US) surged more than 12% in early trading, reaching $9.51. In terms of news, MARA Holdings is collaborating with Starwood Capital Group, a private equity firm owned by Barry Sternlicht, to transform some of the existing sites of this bitcoin mining company into infrastructure that supports artificial intelligence (AI) applications and other cloud services. As the data center development platform for this private equity firm, Starwood Digital Ventures will be responsible for design, tenant recruitment, construction, and facility operation, while MARA will provide some sites. The cryptocurrency mining enterprise stated in a declaration on Thursday that the two parties expect to immediately deliver about 1 gigawatt of capacity and potentially expand to 2.5 gigawatts. Financial terms were not disclosed. According to MARA's presentation materials, both parties will have joint ownership of all related projects, prioritizing sites that can access more cost-effective energy and have scalable interconnection conditions.