In a $1.5 billion deal, MARA Holdings has agreed to purchase Long Ridge Energy & Power, also assuming approximately $785 million in debt secured by a bridge loan. The transaction includes Long Ridge's 505-megawatt gas plant in Ohio, along with extensive land, water, and connectivity resources.
This acquisition is expected to increase MARA's power capacity by around 65% and expand its pipeline to roughly 2.2 gigawatts. Construction on a new AI and IT facility is slated to begin in 2027, with initial capacity expected by mid-2028. The deal is anticipated to close in the second half of 2026 and is projected to add $144 million in annual adjusted EBITDA.