MARA secured development rights for up to 2 GW of power capacity in Matagorda County, Texas; power approval remains pending.

MARA’s filed shareholder letter says it secured rights to develop a Matagorda County site with up to 2 gigawatts (GW) of power capacity. This is a development-rights position, not a statement that 2 GW is energized or available to computing customers.

The company says the Electric Reliability Council of Texas (ERCOT) recently classified the site as a “studied load” in its Batch Zero process. MARA is working with the utility to bring power online, but the disclosed classification is not presented as final power approval.

All payments to the sellers are contingent on power being approved, and MARA says it has made no payments to date. The supplied disclosure does not identify a committed tenant, GPU configuration or energization deadline for this site.