Fred Thiel, CEO of MARA, stated that redirecting energy resources to servicing data centers for artificial intelligence is more economically feasible than using them for mining cryptocurrencies. According to him, the shortage of electricity is becoming a key limiting factor for the technology industry, since the commissioning of new generating capacities, including traditional thermal or nuclear power plants, takes from five to thirty years. In this regard, MARA, which already controls a significant part of its own infrastructure and uses 1.1 gigawatts of capacity, is considering the possibility of expanding existing sites to 2 gigawatts. At the same time, the company plans to maintain mining operations only until it begins to create a shortage of resources for more profitable computing tasks.

The financial strategy of the organization is undergoing significant changes, as MARA does not position itself as a corporate treasury aimed at long-term retention of digital assets. Over the past year, the company has sold more than 20,000 bitcoins to repay a $1 billion convertible debt. Fred Thiel justified this decision by saying that bitcoin as an asset does not generate internal returns, and its value depends solely on market supply and demand. Consequently, management's fiduciary duty to shareholders is to reallocate capital from low-yielding cryptographic reserves to high-yielding physical infrastructure capable of serving the growing artificial intelligence sector.

The transition from mining to providing computing power involves significant structural and financial challenges. The construction of a specialized data center takes up to twenty-four months, and the cost of its basic infrastructure, excluding server equipment, reaches 10-15 million dollars per megawatt, which is ten times higher than the cost of creating a mining facility. Despite these barriers, the availability of ready-made land plots and connections to the power grid gives miners an advantage of two to three years. In the long term, Thiel predicts a transformation of the industry in which industrial mining will give way to distributed mining based on excess household electricity, although bitcoin itself will retain its fundamental value as a store of value.