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Trump says his team will “look into” the U.S. taking equity stakes in AI companies.

EDF remains a minority shareholder and close partner in Exaion. Because $MARA now owns and operates Exaion, EDF’s massive win at the Bouchain site puts MARA's European operations directly on the playing field.

Explosive call buying on $MARA today! $20 July '26 calls saw 5,485 volume (new OI +327) with $193K premium. Bulls loading up heavy. 🚀

Mistral + AI physics startup Emmi. AI physics needs highly specialized, heavy compute. The link: Xavier Niel. Funds Mistral. Partnered with $MARA (via Exaion) for EU data centers. Hard not to see the setup here. Is $MARA positioning itself to power Mistral’s expanding ecosystem?

$MS Morgan Stanley wrote a sell-side research report on $MARA MARA that I think completely underestimates what the company is becoming: -MARA is no longer just a Bitcoin miner. The company is building an AI infrastructure platform centered around owning power, AI data centers, sovereign compute, and high-performance compute infrastructure -MARA now has a 2.2 GW pipeline across the U.S. and international markets with Long Ridge alone giving the company one of the most important assets in AI: connected power for large-scale AI data centers -The company believes power, not chips, is becoming the biggest bottleneck in AI infrastructure and assets like Long Ridge could take up to 10 years to replicate due to permitting and interconnection constraints STARWOOD PARTNERSHIP: -The Starwood partnership gives MARA access to one of the most experienced hyperscaler data center development platforms in the world while allowing MARA to pursue AI infrastructure in a far more capital-efficient structure -MARA even outlined a hypothetical 200 MW example where a powered site contribution could potentially translate into ~50% ownership and up to $50M-$100M in annualized stabilized cash flow with limited additional equity exposure beyond the land contribution itself -The Morgan Stanley analyst acknowledged the Starwood JV could become a major growth driver, but is only assigning a 10% probability until leases are signed, which is exactly why Wall Street is often late to major value shifts like this EXAION / SOVEREIGN AI: -Exaion gives MARA exposure to sovereign AI, enterprise AI, and private cloud infrastructure as governments and enterprises increasingly want local control over compute, security, and data residency instead of relying entirely on traditional U.S. hyperscalers and the U.S. Cloud Act -The company specifically highlighted expansion discussions in France, Brazil, Saudi Arabia, and other energy-rich regions as part of its international AI infrastructure strategy I think $MARA MARA is building one of the most misunderstood AI infrastructure ecosystems in the market right now

The biggest change in call option open interest this morning in the $MARA 5/22/2026 $13 calls. Over 43,000 of these calls were added to open interest.

This was the domino... $MARA $MARA just removed the biggest risk in the Long Ridge deal. Change of control clause? Gone! No forced repayment. No financing issues. No friction. Now it’s not if the deal closes… It’s when they announce it ⏳️ Power secured = real leverage. Most are still not seeing it yet.