MARA, MPLX Team Up in Texas Amid Strong Q3 Earnings

MARA Holdings (MARA) and MPLX LP (MPLX) announced a new partnership to build an integrated power generation and data center campus in West Texas, marking a major step in the development of energy and IT infrastructure.

Under a newly signed letter of intent, MPLX will supply natural gas from its Delaware Basin processing plants to MARA’s planned gas-fired power facility, which will initially provide 400 MW of electricity with a potential expansion to 1.5 GW.

The power will serve MARA’s data centers and also increase energy reliability for MPLX’s regional operations. MPLX CEO Maryann Mannen said the deal strengthens the company’s natural gas value chain, while MARA CEO Fred Thiel emphasized the benefits of leveraging low-cost local gas to fuel efficient, high-performance data centers. MARA expects the project to evolve from supporting mining operations to advanced AI and high-performance computing workloads.

Alongside the collaboration, MARA reported the results of the third quarter 2025.

Third-quarter revenue of $252 million, up 92% year over year. Net income of $123 million was up from a net loss of $125 million in the same period last year. Adjusted EBITDA increased by 1,671% to $395.6 million.

The company’s powered hashrate climbed 64% to 60.4 EH/s; Bitcoin shares nearly doubled to 52,850.

MARA is down 2.3% in early trade, as crypto and traditional markets are much lower on Tuesday.