MARA Holdings acquires Long Ridge Energy for $1.5B
6.8 Investments MARA Holdings will acquire Long Ridge Energy for $1.5B, adding a 505 MW gas plant and 1,600 acres in Ohio, boosting power capacity by 65% and supporting future AI infrastructure.
MARA Holdings has announced an agreement to acquire Long Ridge Energy & Power, a natural gas power facility operator, for $1.5 billion. This includes the assumption of approximately $785 million in existing debt. The acquisition covers a 505 MW combined-cycle gas turbine plant and more than 1,600 acres of industrial property in Hannibal, Ohio. The site features established connections to the electrical grid, water systems, fiber optic networks, and rail transportation. With this deal, MARA’s controlled power generation capacity will increase by about 65%, expanding its total footprint to approximately 2.2 gigawatts across multiple markets. Long Ridge’s assets are expected to generate around $144 million in annual adjusted EBITDA, with operating costs below $15 per megawatt-hour. The location is positioned for future development as an integrated digital infrastructure campus, supporting AI and advanced computing. Construction is scheduled to begin in early 2027, with the transaction expected to close by late 2026, pending regulatory approvals.
