MARA Buys Long Ridge for $1.5 Billion AI Data Center Push
MARA Holdings agreed to acquire Long Ridge Energy from FTAI Infrastructure for about $1.5 billion, including debt, in a deal that would give the bitcoin miner an Ohio gas-fired power asset as it expands into AI data centers. FTAI said the sale includes Long Ridge's gas plant, gas wells and land in Ohio, and that it plans to use the proceeds to pay down debt and fund growth.
The transaction centers on a roughly 500-megawatt plant that sells power into PJM and is tied to an approximately 1-gigawatt campus with capacity for as much as 600 megawatts of new critical IT load. MARA already operates about 200 megawatts at the site, and the plant is expected to keep generating cash flow from grid sales while preserving room to add AI and high-performance computing load over time.
From the sources (5 posts)
@wallstengineFTAI Infrastructure $FIP agreed to sell Long Ridge Energy to MARA Holdings for about $1.52 billion. The deal includes a 485 MW gas plant, gas wells, and land in Ohio, with FIP planning to use proceeds to pay down debt and fund growth.
@matthew_sigel$MARA +11% after announcing non-dilutive acquisition of Long Ridge, a 505MW gas-fired plant in Ohio selling into PJM + ~1GW campus (up to 600MW new critical IT load) w/ AI/HPC potential ~$1.5B EV = ~10x EBITDA (~$144M) and ~$3.0M/MW vs co
@theblockcoBitcoin miner MARA to acquire Long Ridge in $1.5 billion Ohio gas plant deal
@coindeskNEW: MARA Holdings to buy Long Ridge Energy in $1.5 billion AI data center push. @FranciscoMemor reports.
@techmemeBitcoin miner MARA Holdings agrees to acquire Ohio gas plant operator Long Ridge Energy & Power for $1.5B including debt, to power its AI data center expansion (@franciscomemor / CoinDesk) (Visit Techmeme dot com for the link and full