US Edition
Published • loading... • Updated
MARA to Buy Ohio Gas Plant Operator Long Ridge for $1.5 Billion as It Pivots Beyond Bitcoin
The deal adds a 505-megawatt gas plant and about $144 million in annualized adjusted EBITDA as MARA expands into AI data centers.
- On Thursday, MARA Holdings agreed to acquire Long Ridge Energy & Power for $1.5 billion, including a 505-megawatt natural gas plant in Hannibal, Ohio, and more than 1,600 acres of land.
- MARA Chief Executive Fred Thiel described the site as a "highly efficient, contracted energy platform" supporting the company's strategic shift toward digital infrastructure and AI data center development.
- The transaction includes assuming around $785 million in existing debt, with remaining balance funded by cash and a bridge loan from Barclays; Long Ridge assets generate around $144 million in annualized adjusted earnings.
- Expected to close in the second half of 2026, the deal requires approval from the Federal Energy Regulatory Commission as MARA plans to expand total power capacity to more than 1 gigawatt.
- Amid mounting concerns across the United States regarding grid strain from data center expansion, MARA aims to diversify operations beyond its recent focus on mining and holding Bitcoin.
Insights by Ground AI
14 Articles
14 Articles
The Manila TimesReposted by 
Green Stock News
Green Stock NewsMARA Advances Its Optimized Digital Infrastructure Strategy with Agreement to Acquire Long Ridge Energy & Power
Establishes Premier Digital Infrastructure Campus with Over 1 GW of Total Potential Capacity, Including 200 MW of Existing MARA Capacity and Line of Sight to up to 600 Gross MW of AI and Critical IT Loads
·Manila, Philippines (the)
Read Full Article
US - FTAI Infrastructure To Sell Long Ridge Energy & Power.
Skadden is advising FTAI Infrastructure Inc. on its sale of Long Ridge Energy & Power LLC and certain related assets to MARA Holdings, Inc. The transaction is valued at approximately $1.52 billion. Headquartered in Pittsburgh, Pennsylvania, Long Ridge is a vertically integrated power and gas company comprised of a 485-megawatt combined cycle gas power plant, working interests in natural gas production wells, and approximately 1,600 acres of land…
Coverage Details
Total News Sources14
Leaning Left1Leaning Right1Center3Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 20%
C 60%
R 20%
Factuality
To view factuality data please Upgrade to Premium
