MARA has successfully expanded its gas-to-power data center initiative with NGON from 25 to 50 megawatts. As of December 2025, the expansion is now fully energized and operational.
The expansion builds on the successful execution of the original 25-megawatt deployment across Texas and North Dakota, announced in late 2024. That initial phase proved something critical: associated natural gas, when paired with on-site generation and Bitcoin mining, can be converted into reliable, low-cost power at scale, even in remote, challenging environments.
Based on sustained operational performance and disciplined cost management, MARA and NGON elected to expand capacity by scaling the operating model in North Dakota. For MARA, these deployments remain among the lowest operating-cost assets in its global portfolio.
Turning Flared Gas into Productive Power
These sites are powered by associated natural gas that lacks economic pathways to traditional markets due to geography, infrastructure constraints, and permitting timelines. In many cases, that gas would otherwise be flared.
.jpg)
This challenge is well documented. According to the World Bank’s 2025 Global Gas Flaring Tracker Report, an estimated 151 billion cubic meters of natural gas was flared globally in 2024, releasing roughly 389 million metric tons of CO₂ equivalent (“CO₂e”), comparable to the annual electricity use of more than 80 million U.S. homes, based on EPA equivalency data.
In North Dakota, strict flaring caps and regulatory requirements create operational challenges for upstream producers. Onsite gas-to-power paired with Bitcoin mining offers a practical solution. By converting gas to electricity on-site, operators can improve methane combustion efficiency, reduce routine flaring, and generate revenue from a previously stranded resource.

Since initial energization in September 2024, the campaign has avoided approximately 315,905 metric tons of CO₂e emissions as of March 1, 2026, equivalent to removing roughly 73,687 gasoline-powered vehicles from the road for a year, according to EPA equivalency data.
This model has helped upstream operators monetize associated gas, turning wellhead production into revenue on timelines measured in months, not years.
Speed to Deploy, Speed to Value
One of the defining advantages of this expansion was execution speed. MARA’s data centers and on-site generators were deployed in parallel with the completion of three multi-well pads, allowing associated gas to be utilized as production came online. For energy professionals, this alignment matters: fuel supply, generation, and demand were designed to synchronize from day one.
At the new North Dakota well pads, this approach allowed sites to be energized within a few months of initial well production. From contract execution to full energization, the 50-megawatt expansion was completed in approximately four months.
Because the deployment relies on on-site generation rather than grid interconnection, it also avoids the multi-year delays typically associated with traditional grid-connected data center development. This speed highlights the role of Bitcoin mining in quickly monetizing stranded energy.
.jpg)
The expanded footprint spans four sites, including increases at two existing locations and the addition of two new well pads. Expanding operations in the area improves reliability, reduces operating complexity, and further enhances cost efficiency.
Maximizing Compute Optionality & Value
The expanded capacity supports MARA’s broader approach to hardware lifecycle management by increasing optionality across its compute fleet. These gas-to-power sites provide a highly flexible, low-cost power environment that can efficiently support a broad mix of ASIC models.
The economics of on-site generation allow MARA to dynamically match different hardware profiles – including both newer-generation and legacy ASICs – to the environments where they create the most value. By expanding capacity in these locations, MARA enhances its ability to deploy, redeploy, and optimize compute assets over time, improving capital efficiency and returns while maximizing value creation for MARA and its strategic partners.
A Proven Model for a Scaling Energy Strategy
"If you look at the energy problem today, it's that the consumer of energy is not near where the energy is being generated. The solution is to move demand to where the power is, and that's exactly what Bitcoin mining enables." - Fred Thiel, MARA Chairman and CEO
Associated gas represents one component of MARA’s broader energy portfolio, which spans owned generation, behind-the-meter deployments, and grid-connected capacity. The operational experience gained through the NGON partnership has informed MARA’s approach to larger-scale energy collaborations.
As MARA continues to pursue generation opportunities, the expansion to 50 megawatts demonstrates how a proven gas-to-power model can scale when operational performance and partner alignment are already in place.
More broadly, this expansion reinforces MARA’s objective of deploying infrastructure quickly, integrating power and compute at the source, and scaling solutions that work. By aligning generation, demand, and long-term partnerships, MARA is working to build a durable and flexible energy portfolio that can support a range of applications.
Explore how MARA’s gas-to-power solution reduces flaring & emissions.
Investor Notice
Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under the heading "Risk Factors" in our most recent annual report on Form 10-K and any other periodic reports that we may file with the U.S. Securities and Exchange Commission (the "SEC"). If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See "Forward-Looking Statements" below.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. All statements, other than statements of historical fact, included in this press release are forward-looking statements. The words "may," "will," "could," "anticipate," "expect," "intend," "believe," "continue," "target" and similar expressions or variations or negatives of these words are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such forward-looking statements are based on management’s current expectations about future events as of the date hereof and involve many risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Subsequent events and developments, including actual results or changes in our assumptions, may cause our views to change. We do not undertake to update our forward-looking statements except to the extent required by applicable law. Readers are cautioned not to place undue reliance on such forward-looking statements. All forward-looking statements included herein are expressly qualified in their entirety by these cautionary statements. Our actual results and outcomes could differ materially from those included in these forward-looking statements as a result of various factors, including, but not limited to, the factors set forth under the heading “Risk Factors” in our most recent annual report on Form 10-K, and any other periodic reports that we may file with the SEC.





