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. The plant is a 485 MW combined-cycle facility that is expected to rise to 505 MW in the second half of 2026, and it sits on more than 1,600 acres for a planned data center campus. MARA would fund the cash price with bitcoin-backed credit and a $785 million bridge loan from Barclays.

• Base purchase price about $1.5 billion, plus assumed debt
• Plant capacity 485 MW, expected to rise to 505 MW in 2H 2026
• Barclays committed a $785 million 364-day bridge loan
• Either side can walk away if not closed by November 30, 2026, or June 30, 2027 if regulatory conditions remain open
• MARA pays a $75 million termination fee in certain cases