secwatch.observer — SEC 8-K summary
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Issuer:     MARA Holdings, Inc. (MARA)
CIK:        0001507605
Form:       8-K
Filed at:   2026-04-30T23:59:59+00:00
Accession:  0001193125-26-193982
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1507605/000119312526193982/0001193125-26-193982-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1507605/000119312526193982/d54802d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-193982

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