MARA Holdings will acquire Long Ridge Energy & Power for approximately $1.5 billion. This transaction value includes assumed debt.
The deal includes a 505-megawatt natural gas power plant in Ohio. MARA also gains over 1,600 acres of land. This acquisition increases the company's owned power capacity by approximately 65%.
The move repositions MARA as a digital infrastructure operator for artificial intelligence and high-performance computing. The company plans to develop the site into a large-scale AI data center campus.
Construction is scheduled to begin in the first half of 2027. MARA expects the first capacity to come online by mid-2028.