AcquisitionsApr 30, 2026, 07:02 AM
MARA Acquires Long Ridge Energy for $1.5B; Adds 1 GW Capacity
AI Summary
MARA Holdings, Inc. announced a definitive agreement to acquire Long Ridge Energy & Power LLC from FTAI Infrastructure Inc. for approximately $1.5 billion, including debt. This acquisition establishes a premier digital infrastructure campus with over 1 GW of total potential capacity, including a 505 MW power plant and 1,600 acres, significantly expanding MARA's owned and operated capacity by 65%. The deal is expected to add approximately $144 million in annualized Adjusted EBITDA and supports MARA's strategy for AI and critical IT loads, with an initial buildout targeted for service by mid-2028.
Key Highlights
- MARA to acquire Long Ridge Energy & Power LLC for approximately $1.5 billion, including debt assumption.
- Acquisition includes a 505 MW combined-cycle gas power plant and over 1,600 acres for a digital infrastructure campus.
- Increases MARA's owned and operated capacity by 65% to approximately 2.2 GW.
- Adds approximately $144 million of Annualized Adjusted EBITDA at less than $15/MWh all-in operating costs.
- Campus has over 1 GW total potential capacity, including 200 MW existing MARA capacity and up to 600 MW for AI/IT loads.
- Initial AI/Critical IT buildout expected to begin 1H 2027, ready for service mid-2028.
- Transaction expected to close in 2H 2026, subject to regulatory approvals.