MARA to acquire Long Ridge Energy for ~$1.5B, adding 505 MW gas plant and 1+ GW campus

MARA Holdings, Inc.

Transaction value ~$1.5B including assumption of at least $785M debt backstopped by Barclays bridge loan.
Long Ridge assets: 505 MW CCGT plant, 1,600+ acres, rail infrastructure; total potential capacity >1 GW.
Adds ~$144M annualized Adjusted EBITDA (based on 2H 2025); all-in operating costs <$15/MWh.
Expected to increase MARA's owned and operated power capacity by ~65%; closing targeted H2 2026.
Plans to retain Long Ridge team and develop up to 600 MW AI/Critical IT load, with initial buildout starting 1H 2027.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MARA Holdings, Inc. entered into a asset purchase with FTAI Infrastructure Inc. valued at approximately $1.5 billion (effective 2026-04-30).

Action: entry
Agreement: asset purchase
Counterparty: FTAI Infrastructure Inc.
Value: approximately $1.5 billion
Effective: 2026-04-30

Exact text from the filing

MARA Holdings, Inc. (NASDAQ: MARA) (“MARA”), a leading energy and compute infrastructure company, today announced that it has entered into a definitive agreement to acquire Long Ridge Energy & Power LLC (“Long Ridge Energy”) from FTAI Infrastructure Inc. (NASDAQ: FIP) (“FTAI Infrastructure”) for a total transaction value of approximately $1.5 billion (including the assumption of certain debt).

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MARA Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-193982

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