"MARA Holdings agreed to buy Long Ridge Energy for $1.5 billion, adding a 505 MW Ohio gas plant. The deal lifts MARA's total power capacity 65% to 2.2 GW."
"The acquisition pushes the company's total owned and operated power capacity to approximately 2.2 GW across PJM, ERCOT, SPP, and international markets, a roughly 65% increase."
"MARA explained that the site can scale to more than 1 GW of total potential power capacity, with all-in operating costs for the plant running below $15 per megawatt-hour."
MARA Holdings, Inc. signed an agreement to acquire Long Ridge Energy & Power LLC for approximately $1.5 billion. This acquisition includes a 505 MW natural gas power plant and over 1,600 acres in Hannibal, Ohio. The deal increases MARA's total power capacity by 65% to 2.2 GW. The company plans to build an AI data center, with construction starting in the first half of 2027 and service delivery targeted for mid-2028. FTAI Infrastructure shares rose 14% due to the sale, allowing debt retirement.
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