AcquisitionsApr 30, 2026, 07:22 AM
MARA to Acquire Long Ridge Energy & Power for $1.5B
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 assumed debt. The acquisition includes a 505 MW combined-cycle gas power plant and over 1,600 contiguous acres of land in Hannibal, Ohio, establishing a premier digital infrastructure campus with over 1 GW of total potential capacity. This strategic move is expected to increase MARA's owned and operated capacity by 65% and add approximately $144 million of annualized Adjusted EBITDA, supporting the company's optimized digital infrastructure strategy for AI and critical IT loads.
Key Highlights
- MARA to acquire Long Ridge Energy & Power for approximately $1.5 billion, including assumed debt.
- Acquisition includes a 505 MW combined-cycle gas power plant and over 1,600 contiguous acres of land.
- Establishes a premier digital infrastructure campus with over 1 GW of total potential capacity.
- Expected to increase MARA's owned and operated power capacity by approximately 65%.
- Adds approximately $144 million of annualized Adjusted EBITDA at less than $15/MWh operating costs.
- Initial AI/Critical IT buildout expected to begin in 1H 2027, ready for service in mid-2028.
- Transaction is expected to close in the second half of 2026, subject to regulatory approvals.
- Financing for the acquisition is backstopped by a 364-day senior secured bridge loan from Barclays.
Price Impact
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