Long Ridge power plant
Acquisition agreed April 29, 2026; closing awaits FERC and other regulatory approvals.
The numbers
What it is
MARA agreed to buy 100% of Long Ridge Energy & Power, which owns a combined-cycle gas plant in Hannibal, Ohio, with adjacent land. The company says the plant adds positive EBITDA on closing, with more than 70% of its power output contracted under long-term agreements.
Why it matters to the stock. Owning power gives MARA a way to sell electricity or compute capacity instead of only mining bitcoin. The deal is financed partly by new bitcoin-backed borrowing, so closing and the cost of that debt matter for the stock.
News
MARA Q2 2026 revenue falls 27% to $174.9 million and net loss is $611 million
MARA reported second-quarter 2026 revenue of $174.9 million, down from $238.5 million a year earlier, and a net loss of $611.3 million, or $1.60 per share.
MARA agrees to buy Long Ridge Energy & Power for about $1.5 billion
MARA agreed to buy 100% of Long Ridge Energy & Power, a gas-fired power plant in Hannibal, Ohio, from FTAI Infrastructure's subsidiaries for a base price of about $1.5 billion, subject to adjustments.