Exaion majority stake acquisition
Company: Marathon Digital
The claim, verbatim
Agreed to acquire approximately 64% ownership interest in Exaion for approximately $168.0 million, with an option to increase ownership to 75% by 2027, expected to close after receiving regulatory approvals anticipated in Q4 2025.
Source (primary)
marathon-digital 8-K exhibit (q325shareholderletter.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-27)Live source ↗
Quote: “In August, MARA signed an agreement to acquire a stake of approximately 64% in Exaion... The transaction and capital injection, valued at approximately $168.0 million, includes an option to increase MARA's ownership to 75% by 2027 and is expected to close shortly after receiving regulatory approvals that we expect to receive in Q4.”
How we checked this
Checked on September 28, 2026. The cited source supports every part of this claim.
The shareholder letter states the ~64% stake, the ~$168.0 million valuation, the option to reach 75% by 2027, and closing expected after regulatory approvals anticipated in Q4.
Confirmed in the source:
- MARA agreed to acquire an approximately 64% ownership interest in Exaion
- The transaction and capital injection is valued at approximately $168.0 million
- The deal includes an option to increase MARA's ownership to 75% by 2027
- Closing is expected shortly after regulatory approvals, which MARA expected to receive in Q4 (of 2025, per this Q3 2025 letter)
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1507605/000150760525000026/q325shareholderletter.htm) in full (50,724 characters, retrieved September 27, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms marathon-digital 8-K exhibit (q325shareholderletter.htm)
Quote: “In August, MARA signed an agreement to acquire a stake of approximately 64% in Exaion... The transaction and capital injection, valued at approximately $168.0 million, includes an option to increase MARA's ownership to 75% by 2027 and is expected to close shortly after receiving regulatory approvals that we expect to receive in Q4.”