MARA Expands Power Capacity With $1.5B Long Ridge Deal - Blockonomi

by · Blockonomi

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  • 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 to around 2.2 gigawatts across multiple markets.

The company operates across PJM, ERCOT, SPP, and selected international regions. These markets provide access to large-scale power demand and infrastructure support.

MARA stated that the Long Ridge assets are expected to generate about $144 million in annualized adjusted EBITDA. The company expects to complete the deal in the second half of 2026.

AI Infrastructure Plans Drive MARA’s Long-term Strategy

MARA confirmed it will begin construction of AI and IT infrastructure in the first half of 2027. The company targets initial operational capacity by mid-2028.

It stated that the site will support future high-performance computing workloads. These workloads align with growing demand for AI and data processing services.

The company clarified that it does not plan to reduce the current power supply to the PJM grid. Existing operations at Long Ridge will continue without disruption.

MARA emphasized that the infrastructure buildout will occur in phases over time. Each phase will expand computing and energy capabilities at the site.

The company described the acquisition as part of its broader infrastructure expansion strategy. It aims to integrate energy production with digital operations.

Market Reaction and Seller Performance

Shares of FTAI Infrastructure, the seller, rose about 12% in pre-market trading following the announcement. The market responded quickly to the transaction details.

MARA shares also increased by around 3% during the same period. Investors reacted to the company’s expansion into energy-backed infrastructure.

FTAI Infrastructure disclosed the agreement in a Thursday filing outlining key terms. The filing confirmed asset details and financial expectations tied to the deal.

MARA reiterated that the acquisition supports its long-term operational goals. It confirmed that the transaction aligns with its current infrastructure roadmap.

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