MARA to buy Long Ridge Energy in $1.5 billion AI data center push

MARA Holdings has agreed to purchase Long Ridge Energy & Power for approximately $1.5 billion, a deal that includes assuming at least $785 million in debt. This acquisition encompasses Long Ridge's 505 MW gas plant and over 1,600 acres in Ohio, providing substantial power capacity for future AI and IT infrastructure. MARA anticipates the site could support over 1 GW of power capacity, increasing its owned-and-operated capacity by about 65% and expanding its pipeline to roughly 2.2 GW. Construction of an initial AI buildout is slated for the first half of 2027, with capacity expected by mid-2028. The company expects the Long Ridge assets to contribute approximately $144 million in annualized adjusted EBITDA, with the deal projected to close in the latter half of 2026. MARA does not anticipate cutting Long Ridge's current power supply to the PJM grid.

(Source：CoinDesk)