MARA wants to have 50% of its operations abroad by 2028. Here’s how they plan to do it.

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Welcome back to The Mining Pod! For today’s Bitcoin Stock Show, MARA’s Chief Strategy Officer Adam Swick joins to discuss the forward-looking plans CEO Fred Thiel mentioned in MARA’s 2024 earnings call. Specifically, Swick unpacks claims that MARA wants to offshore 50% of its operations by 2028 by entering into similar joint-ventures as its Zero Two partnership in the UAE. Swick also speaks to the company’s goal to own more energy-generating assets in the United States and how it would finance such purchases. Finally, why MARA is so hot on the new ASIC manufacturer, Auradine, and whether or not we should expect MARA to enter the inference field for AI compute.

• Mara went from 0% to 70% owned mining assets

• Q4 revenue: $214.4M with lower operating costs

• Target: 50% of operations outside US by 2028

• Wind farm acquisition extends life of older miners

• Auradine partnership delivering quality ASIC miners

• Focus on AI inference rather than training models

Timestamps:

00:00 Start

03:53 MARA lowering OpEx

06:24 Trend toward owned assets

09:01 Zero cost mining

14:17 Debt financing BTC purchases

19:27 Considering power production

22:01 Foreign mining sites

27:08 Has Africa been sufficiently de-risked?

30:25 Free-er energy markets vs controlled

33:57 Auradine

40:40 AI & HPC

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