MARA Holdings (MARA) to Acquire Long Ridge Energy for $1.5B to Expand AI and Mining Power

MARA Holdings Inc. (NASDAQ:MARA) is one of the best high volume stocks to invest in according to hedge funds. On April 30, MARA Holdings entered into a definitive agreement to acquire Long Ridge Energy & Power for approximately $1.5 billion, a move that increases its owned power capacity by 65%. The acquisition features a 505 MW combined-cycle gas power plant in Hannibal, Ohio, and over 1,600 acres of land with access to water, fiber, and fuel supply. This strategic transaction establishes a premier digital infrastructure campus with more than 1 GW of total potential capacity, positioned to support AI, high-performance computing, and Bitcoin mining.

The Hannibal site serves as a cornerstone for MARA’s expansion into the PJM market, offering all-in operating costs of less than $15/MWh. MARA plans to begin construction on an initial AI and critical IT buildout in early 2027, with the first phase targeted for service by mid-2028. The company has identified a pathway to expand the site’s capacity to 600 gross MW through grid expansions and additional on-site generation, leveraging the facility’s vertically integrated fuel supply and existing rail infrastructure.

Financially, the deal is expected to add ~$144 million in annualized adjusted EBITDA, providing stable cash flow to support MARA’s broader development goals. The transaction, which includes the assumption of at least $785 million in debt, is slated to close in H2 2026 pending regulatory approvals. Upon completion, MARA intends to retain the Long Ridge Energy team to provide a scalable platform for future digital infrastructure projects across global markets.

MARA Holdings Inc. (NASDAQ:MARA) is a digital asset tech company that mines cryptocurrencies with a focus on the Bitcoin ecosystem. The company also operates bitcoin mining facilities/data centers, offers advisory & consulting services, generates electricity from renewable energy sources to power bitcoin mining, and sells proprietary software or technology to third parties in the bitcoin ecosystem.

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