MARA to buy Long Ridge for ~$1.5B, gaining 505 MW plant and 1,600+ acres for AI data center and bitcoin ops

MARA Holdings reached an agreement to buy Long Ridge Energy & Power for about $1.5 billion in total consideration, including assumed debt; the acquisition includes a 505 MW combined-cycle gas power plant in Hannibal, Ohio, and more than 1,600 contiguous acres that together offer over 1 GW of potential power capacity for future buildout ^{[1] [2] [3]}.

Company statements and reporting frame the purchase as the anchor for a flagship AI campus and part of a broader strategy to integrate energy infrastructure with compute capacity, positioning the site for AI and other IT development as well as continued bitcoin-related operations ^{[4] [1] [2]}.

Market coverage noted a positive investor reaction to the transaction, and filings or analyst summaries project the Long Ridge facility could materially increase MARA’s controlled power generation (roughly a 65% increase) and contribute significant operating EBITDA—reports cite a projected roughly $144 million in annual adjusted EBITDA for the asset ^{[3] [5]}.

The deal expands MARA’s energy and land footprint to support data center and compute expansion tied to AI and existing crypto operations, while adding near-term financial and capacity benefits to the company’s infrastructure base ^{[4] [1] [2] [3]}.