MARA Expands Power Capacity With $1.5B Long Ridge Deal
MARA agreed to buy Long Ridge Energy & Power in a deal valued at about $1.5 billion.MARA will assume at least $785 million of debt backed by a bridge loan.The deal includes a 505-megawatt gas plant in Hannibal, Ohio.MARA said the site could support more than 1 gigawatt of power capacity over time.The company plans to start its first AI and critical IT buildout in 2027. MARA Holdings agreed to acquire Long Ridge Energy & Power in a deal valued at nearly $1.5 billion. The company will also assume at least $785 million in debt supported by a bridge loan. The transaction outlines a clear expansion plan tied to AI and critical IT infrastructure. MARA Expands Power Capacity with Long Ridge Acquisition MARA confirmed the purchase includes a 505-megawatt combined-cycle gas plant located in Hannibal, Ohio. The site also includes more than 1,600 acres with water access and existing fiber connections. The company stated that the location offers fuel supply and grid access within the PJM network. It also confirmed that the site could support over one gigawatt of total power capacity over time. MARA said the acquisition will increase its owned and operated power capacity by about 65%. It also expands its development pipeline