MARA Holdings $1.5 billion acquisition of Long Ridge Energy to expand AI data center

Techub News, according to CoinDesk, MARA Holdings has agreed to acquire Long Ridge Energy & Power for approximately $1.5 billion, to obtain its 505-megawatt natural gas plant and 1,600 acres of land in Ohio, with total electric capacity exceeding 1 gigawatt, to support AI data centers and critical IT infrastructure construction.

The transaction is expected to close in the second half of 2026, which will increase MARA's owned power capacity by approximately 65% and add approximately $144 million in annualized adjusted EBITDA. The company plans to commence initial construction in the first half of 2027, with the first phase of capacity expected to come online in mid-2028, while committing to maintain existing power supply to the PJM grid.