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← MARA Holdings
Thu, Jul 2, 2026

MARA closes equity acquisition of MAT 1177 LLC ("Project Company") in Matagorda County, TX

Source document ↗

Key points

  • Volt Texas, LLC (MARA subsidiary) acquired 100% of MAT 1177 LLC from HIF USA LLC (HIF Global subsidiary), holder of ~1,200+ acres in Matagorda County, TX and a utility letter agreement for up to 2,000 MW of power capacity. Consideration structured as up to $600.0 million in post-closing milestone payments (ERCOT approval, site authorization, tenant lease execution), not a fixed upfront price; MARA may terminate if ERCOT does not approve. ASC 805 purchase accounting explicitly incomplete as of the Q2 2026 10-Q.

Acquisition

MAT 1177 LLC ("Project Company")Completed

~1,200+ acres in Matagorda County, TX plus a utility letter agreement for up to 2,000 MW of power capacity, acquired from HIF USA LLC (HIF Global subsidiary) via MARA subsidiary Volt Texas, LLC.

  • Up to $600.0 million in post-closing milestone payments (not a fixed upfront price); ASC 805 accounting incomplete as of Q2 2026 10-Q; MARA may terminate if ERCOT does not approve