MPLX LP and MARA Holdings, Inc. announced the signing of a letter of intent (LOI) for MPLX to facilitate supply of natural gas to planned integrated power generation facilities and data center campuses in West Texas. Under the initiative, MPLX will facilitate natural gas supply from its Delaware basin natural gas processing plants to MARA's planned gas-fired electricity generation facilities in West Texas, which will deliver reliable, scalable solutions for the region's energy and computing needs. MPLX will build multiple power generation facilities and data centers at locations near MPLX processing facilities across the Delaware basin, with an initial capacity of 400 MW and the potential to scale up to 1.5 GW.

These power generation facilities will be supplied natural gas by MPLX and provide electricity for MARA's planned data center campuses while also supplying power to MPLX's West Texas operations, enhancing reliability for MPLX and its producer-customers. Under the terms of the LOI, MARA will own and operate the power generating facilities and data centers, while MPLX will supply natural gas and receive electricity under a tolling agreement. The proposed transaction remains subject to the negotiation and execution of definitive and commercial agreements, receipt of any required regulatory and third-party approvals, completion of satisfactory due diligence by both parties and other conditions precedent.