1 month ago
The woody includes a 505 MW state works and 1,600 acres successful Ohio, offering implicit 1 GW powerfulness capableness for aboriginal AI and IT buildout.
Apr 30, 2026, 12:44 p.m. 1 min read
MARA Holdings (MARA) has agreed to bargain Long Ridge Energy & Power successful a woody valued astatine astir $1.5 billion. MARA volition besides presume astatine slightest $785 cardinal of indebtedness backstopped by a span loan.
The seller, FTAI Infrastructure (FIP), is up 12% successful pre-market trading. MARA is up 3%.
The woody includes Long Ridge’s 505-megawatt combined-cycle state works successful Hannibal, Ohio, on with much than 1,600 acres of land, h2o access, fibre links, substance proviso and grid connections, according to a Thursday filing.
MARA said the tract could enactment much than 1 gigawatt of full powerfulness capableness implicit time.
MARA said the acquisition would rise its owned-and-operated powerfulness capableness by astir 65% and grow its operating and improvement pipeline to astir 2.2 gigawatts crossed PJM, ERCOT, SPP and planetary markets.
MARA plans to commencement operation connected an archetypal AI and captious IT buildout successful the archetypal fractional of 2027, with the archetypal capableness targeted for mid-2028. The institution said it does not expect to chopped Long Ridge’s existent powerfulness proviso to the PJM grid.
The institution expects the Long Ridge assets to adhd astir $144 cardinal of annualized adjusted EBITDA. The woody is expected to adjacent successful the 2nd fractional of 2026.
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