MARA Holdings Acquires Long Ridge Energy for $1.5 Billion
MARA Holdings is set to purchase Long Ridge Energy for approximately $1.5 billion, a deal that enhances its capabilities for AI data center expansion, according to CoinDesk. The agreement includes a 505 MW gas plant and 1,600 acres of land in Ohio, projecting to increase MARA's power capacity by 65% and generate $144 million in annual adjusted EBITDA.
MARA Holdings (MARA) has announced an agreement to acquire Long Ridge Energy & Power in a deal valued at about $1.5 billion. This acquisition includes a 505-megawatt (MW) combined-cycle gas plant located in Hannibal, Ohio, in addition to over 1,600 acres of land, water access, fiber links, fuel supply, and grid connections. With this transaction, MARA will assume a minimum of $785 million in debt.
The acquired assets will significantly enhance MARA’s capacity for future developments, providing over 1 gigawatt (GW) of total power capacity for AI and IT projects. Following the acquisition, MARA's owned-and-operated power capacity will increase by approximately 65%, expanding its overall operating and development pipeline to about 2.2 GW across various markets including PJM, ERCOT, SPP, and internationally.
MARA's planned construction timeline includes initiating the first phase of AI and critical IT buildout in the first half of 2027, with expectations to launch initial capacity around mid-2028. The company has expressed that it does not anticipate any changes to Long Ridge’s existing power supply to the PJM grid after the closing of the deal.
By incorporating the Long Ridge assets, MARA Holdings expects to add around $144 million in annualized adjusted EBITDA. The transaction is expected to finalize in the latter half of 2026, marking a significant step in MARA's ongoing efforts to enhance its infrastructure for artificial intelligence capabilities.
Summary based on original reporting by Francisco Rodrigues at CoinDesk, originally published Apr 30, 2026. SolanaWire does not republish source content.
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