Finance
What to know:
- MARA Holdings (MARA) has, in a fit of capitalist ambition, decided to acquire Long Ridge Energy & Power for a modest $1.5 billion, supposedly to feed the voracious appetites of forthcoming AI data centres.
- The takeover includes a 505 MW gas plant along with 1,600 acres in Ohio, which together promise over a gigawatt of power for the next generation of AI and IT colonisation.
- By swallowing this parcel, MARA swallows a 65% increase in capacity, an additional $144 million in annualised adjusted EBITDA, and anticipates the deal to be inked in the second half of 2026.
MARA Holdings has agreed to purchase Long Ridge Energy & Power for a princely sum of about $1.5 billion. MARA will also absorb at least $785 million of debt, politely shielded by a bridge loan.
The seller, FTAI Infrastructure (FIP), has risen 12% in pre‑market trading, while MARA sits comfortably in the 3% widening gap.
The acquisition comprises Long Ridge’s 505‑megawatt combined‑cycle gas plant in Hannibal, Ohio, plus more than 1,600 acres of land, water access, fibre links, fuel supply and grid connections, all convincingly cited in Thursday’s filing.
MARA claims the site could, at its zenith, support over a gigawatt of total power capacity. Surely, that’s enough to keep all the world’s over‑enthusiastic algorithms humming.
MARA says this move will raise its owned-and-operated power capacity by about 65% and expand its operating and development pipeline to roughly 2.2 gigawatts across PJM, ERCOT, SPP and even international markets. In other words, it wants the world to feel at ease, knowing its data hungry turbines are firmly domesticated.
Construction on an initial AI and critical IT build‑out should commence in the first half of 2027, with the first capacity aimed for mid‑2028. MARA assures that it does not expect to cut Long Ridge’s existing power supply to the PJM grid-after all, no one likes a blackout in a wellbeing frenzy.
The company anticipates that the Long Ridge assets will add about $144 million in annualised adjusted EBITDA. The deal, ostensibly, will be sealed by the second half of 2026.
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2026-04-30 15:51