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MARA to Buy Ohio Gas Plant Operator Long Ridge for $1.5 Billion as It Pivots Beyond Bitcoin
The deal adds a 505-megawatt gas plant and about $144 million in annualized adjusted EBITDA as MARA expands into AI data centers.
- On Thursday, MARA Holdings agreed to acquire Long Ridge Energy & Power for $1.5 billion, including a 505-megawatt natural gas plant in Hannibal, Ohio, and more than 1,600 acres of land.
- MARA Chief Executive Fred Thiel described the site as a "highly efficient, contracted energy platform" supporting the company's strategic shift toward digital infrastructure and AI data center development.
- The transaction includes assuming around $785 million in existing debt, with remaining balance funded by cash and a bridge loan from Barclays; Long Ridge assets generate around $144 million in annualized adjusted earnings.
- Expected to close in the second half of 2026, the deal requires approval from the Federal Energy Regulatory Commission as MARA plans to expand total power capacity to more than 1 gigawatt.
- Amid mounting concerns across the United States regarding grid strain from data center expansion, MARA aims to diversify operations beyond its recent focus on mining and holding Bitcoin.
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The Manila TimesReposted by 
Green Stock News
Green Stock NewsMARA Advances Its Optimized Digital Infrastructure Strategy with Agreement to Acquire Long Ridge Energy & Power
Establishes Premier Digital Infrastructure Campus with Over 1 GW of Total Potential Capacity, Including 200 MW of Existing MARA Capacity and Line of Sight to up to 600 Gross MW of AI and Critical IT Loads
·Manila, Philippines (the)
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Bitcoin Miner MARA Buys OH's Long Ridge Gas Plant, Transload Site - Marcellus Drilling News
Long Ridge Energy & Power operates a 485 MW (nameplate 505 MW) combined-cycle natural gas power plant in Hannibal, Ohio, designed for eventual 100% hydrogen fuel usage. Located on a 1,600-acre site formerly used by an aluminum smelter, it serves the PJM grid and supports an integrated digital infrastructure/data center campus. Long Ridge has sort...
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Total News Sources15
Leaning Left1Leaning Right1Center3Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 20%
C 60%
R 20%
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