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MARA Holdings sells $1.5 billion in Bitcoin and pivots to AI infrastructureTechub News reports, according to CoinDesk, MARA Holdings sold approximately $1.5 billion worth of Bitcoin in the first quarter to improve liquidity and repay debt, while simultaneously announcing a strategic shift from mining to AI infrastructure. The company plans to allocate about 90% of its non-custodial mining capacity to AI computing and intends to acquire the Long Ridge Energy Park in Ohio for $1.5 billion. In the quarter, the company's revenue fell 18% year-on-year to $174.6 million, with a net loss of $1.3 billion primarily driven by unrealized losses on its Bitcoin holdings. It has now dropped from the second-largest publicly listed holder of Bitcoin to fourth place. The funds from the sale include $1.1 billion used at the end of the quarter to repurchase convertible notes.Techub News05/12, 04:51 PM

快讯观点05/12, 04:51 PM

MARA Holdings sells $1.5 billion in Bitcoin and pivots to AI infrastructure

Techub News reports, according to CoinDesk, MARA Holdings sold approximately $1.5 billion worth of Bitcoin in the first quarter to improve liquidity and repay debt, while simultaneously announcing a strategic shift from mining to AI infrastructure. The company plans to allocate about 90% of its non-custodial mining capacity to AI computing and intends to acquire the Long Ridge Energy Park in Ohio for $1.5 billion. In the quarter, the company's revenue fell 18% year-on-year to $174.6 million, with a net loss of $1.3 billion primarily driven by unrealized losses on its Bitcoin holdings. It has now dropped from the second-largest publicly listed holder of Bitcoin to fourth place. The funds from the sale include $1.1 billion used at the end of the quarter to repurchase convertible notes.

MARA Holdings $1.5 billion acquisition of Long Ridge Energy to expand AI data centerTechub 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.Techub News04/30, 08:46 PM

快讯基础设施04/30, 08:46 PM

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.

MARA acquires energy company to expand AI infrastructureTechub News, according to Cointelegraph, MARA has agreed to acquire Long Ridge Energy & Power, obtaining a 505 MW power plant and over 1,600 acres of land to expand its AI infrastructure. The acquisition will provide MARA's AI data centers with a stable power supply and land resources, supporting the expansion of its high-performance computing business, reflecting the trend of crypto mining companies moving into the AI infrastructure sector.Techub News05/01, 02:38 AM

快讯Power05/01, 02:38 AM

MARA acquires energy company to expand AI infrastructure

Techub News, according to Cointelegraph, MARA has agreed to acquire Long Ridge Energy & Power, obtaining a 505 MW power plant and over 1,600 acres of land to expand its AI infrastructure. The acquisition will provide MARA's AI data centers with a stable power supply and land resources, supporting the expansion of its high-performance computing business, reflecting the trend of crypto mining companies moving into the AI infrastructure sector.

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