MARA Holdings has reached a $1.5 billion agreement to acquire Long Ridge Energy & Power, assuming at least $785 million in debt backed by a bridge loan. The transaction includes Long Ridge's 505-megawatt gas-fired power plant in Ohio, along with extensive land, water, and infrastructure assets.
This acquisition is expected to increase MARA's owned power capacity by approximately 65% and expand its pipeline to around 2.2 gigawatts across various markets. MARA plans to initiate construction on its initial AI-focused buildout by the first half of 2027, with initial capacity expected by mid-2028, while maintaining Long Ridge's current power supply to the grid. The deal is anticipated to add $144 million in annual adjusted EBITDA and is set to close in the second half of 2026.