MARA Stock Surges 17.4% as Investors Eye AI Infrastructure Optionality

MARA Holdings Inc. (NASDAQ:MARA) saw its stock surge by 17.4% on Thursday, July 30, 2026, as investors reevaluated the company's power assets for potential use in artificial-intelligence data centers. This move came despite the fact that Bitcoin increased by only 1.5%. The difference in MARA's equity value was significant, with a rise of about $666 million.

Investors are likely valuing MARA's power availability and potential for AI conversion, rather than its core mining operations. This is evident from the company's performance compared to its peers, which saw larger movements in their stocks. For example, IREN Limited (NASDAQ:IREN) rallied by 30.7%, while Riot Platforms (NASDAQ:RIOT) rose by 21.2%.

MARA's Texas deal spans over 1,200 acres and is expected to reach one gigawatt of access by October 2027 and two gigawatts by April 2028. The company has received interest from possible tenants but has not identified any or revealed the lease amount for its Texas development.

The company is scheduled to provide its next update on August 6, when it publishes its shareholder letter ahead of a conference call set for 5 p.m. EDT. Early projections point to revenue of around $209 million and earnings of $0.17 per share.