MARA Holdings, Inc.

MARA Holdings, Inc. filed an investor presentation to provide additional information regarding its previously disclosed acquisition of Long Ridge Energy & Power LLC. The acquisition, valued at approximately $1.5 billion, will result in Long Ridge becoming an indirect wholly-owned subsidiary of MARA. The presentation included selected financial information for both MARA and Long Ridge for the first quarter of 2026, as well as MARA's year-to-date Bitcoin production data.

MARA Holdings, Inc. held its 2026 annual meeting of stockholders on June 18, 2026. Key proposals approved included the election of two Class III directors, the ratification of PricewaterhouseCoopers LLP as the independent auditor for 2026, and the advisory approval of executive compensation. Most notably, stockholders approved an amendment to the 2018 Equity Incentive Plan, increasing the number of shares authorized for issuance by 18,000,000 shares.

MARA Holdings, Inc. announced the successful expiration of its consent solicitation, securing approval from a majority of holders of Long Ridge Energy LLC's 8.750% Senior Secured Notes due 2032. This approval prevents the upcoming acquisition of Long Ridge Energy & Power LLC by MARA's subsidiary from triggering a "Change of Control" event, which would have required an offer to purchase the Notes at 101% of principal. The amendments will become operative upon the transaction's closing, expected in H2 2026, and payment of a $2.50 per $1,000 principal consent fee to consenting holders.

MARA Holdings reported a significant increase in net loss for Q1 2026, reaching $1.26 billion, compared to a $533.4 million loss in the prior year. Revenue declined by 18.36% to $174.6 million. The company initiated a restructuring plan with $45.9 million in costs, reallocating resources towards AI initiatives due to declining bitcoin prices. Additionally, MARA completed two acquisitions: Exaion SaS for $174.5 million to expand AI/HPC capabilities and a 42 MW data center for $25.2 million.

MARA Holdings announced its Q1 2026 financial results, reporting an 18% decrease in revenue to $174.6 million and a net loss of $1.3 billion, primarily due to a $1.0 billion loss from the fair value of digital assets. Strategically, the company is transforming into a digital infrastructure firm, highlighted by the definitive agreement to acquire Long Ridge Energy & Power, a 505 MW flexible compute campus, and the completion of its majority interest acquisition in Exaion. MARA also progressed its Starwood strategic partnership, retired 30% of its convertible debt, and reduced its workforce by 15% for $12 million in annualized savings.

MARA Holdings, Inc. announced that its subsidiary, MARA USA Corporation, has commenced a consent solicitation to amend the indenture governing $600 million of 8.750% Senior Secured Notes due 2032 issued by Long Ridge Energy LLC. This action is to facilitate the acquisition of 100% of Long Ridge Energy & Power LLC by MARA USA, ensuring the transaction does not trigger a "Change of Control" clause in the existing debt agreement. Consenting noteholders will receive a fee of $2.50 per $1,000 principal amount, with the solicitation expiring on May 15, 2026. The acquisition is anticipated to close in the second half of 2026.

MARA Holdings, Inc. announced it will host a webcast and conference call on Monday, May 11, 2026, at 5:00 p.m. Eastern Time. The call is scheduled to discuss the company's financial results for the quarter ended March 31, 2026. Financial results will be made available in a shareholder letter on the investor relations section of the company's website before the call.

MARA Holdings, Inc. announced its virtual Annual Meeting of Stockholders to be held on June 18, 2026. Key proposals include the election of two Class III directors, ratification of PricewaterhouseCoopers LLP as the independent auditor, an advisory vote on executive compensation, and an amendment to increase shares reserved under the 2018 Plan by 18 million. The company also highlighted its 2025 performance, including $907 million in revenues and 66.4 EH/s energized hashrate.

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.

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.