MARA acquires energy assets in $1.5B deal

MARA Holdings has agreed to acquire Long Ridge Energy & Power in a deal valued at approximately $1.5 billion. The transaction includes a gas-fired power plant in Ohio and related infrastructure. The move highlights the company’s strategy to secure energy resources and expand into AI and data center operations.

Company buys gas power plant in Ohio

MARA signed an agreement with FTAI Infrastructure to acquire Long Ridge Energy & Power. In addition to the purchase price, the company will assume at least $785 million in debt. The site is located in Hannibal, Ohio, and includes a 505-megawatt combined-cycle gas plant.

The company noted that the site has significant expansion potential. Over time, total capacity could exceed 1 gigawatt. The transaction is expected to close in the second half of 2026. MARA also stated it will continue supplying power to the PJM grid.

Miners increase control over energy resources

The acquisition reflects a broader shift in the mining industry toward energy ownership. Reliable power access is becoming a critical competitive advantage. At the same time, demand for computing capacity is growing due to AI and data center expansion.

MARA expects to increase its owned power capacity by about 65%. Its total operating and development pipeline may reach around 2.2 gigawatts. This scale allows the company to allocate energy between mining and emerging compute workloads more efficiently.

Competition for power assets will rise

The deal may accelerate the trend of vertical integration across the sector. Mining companies are increasingly investing in energy infrastructure to reduce reliance on external providers. This shift enhances operational stability and long-term planning.

In addition, competition for energy assets is likely to intensify. Power infrastructure is becoming a key driver of valuation in the industry. Companies that secure access to energy may gain a significant advantage in both mining and AI-related services.

MARA plans to begin building AI and critical IT infrastructure in the first half of 2027. Initial capacity is expected by mid-2028.

Business models become more resilient

The transaction highlights the transformation of mining companies into broader infrastructure operators. Energy assets now play a central role in long-term growth strategies. Companies aim to build flexible platforms capable of supporting multiple types of workloads.

Key deal metrics include:

• total value of about $1.5 billion
• debt assumption of at least $785 million
• 505 MW power plant capacity
• expansion potential above 1 GW
• expected annual EBITDA of about $144 million

Overall, MARA strengthens its position at the intersection of energy and digital infrastructure. This move confirms the ongoing evolution of the mining industry.

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