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Cryptoprowl / MARA (NASDAQ: $MARA ) has agreed to acquire Long Ridge Energy & Power from FTAI Infrastructure in a deal valued at about $1.5 billion, including assumed debt, adding a large energy and compute campus to its digital infrastructure strategy. The acquisition includes a 505-megawatt combined-cycle gas power plant in Hannibal, Ohio, and more than 1,600 acres of contiguous land in a major data center and power market. 
 
The purchase pushes MARA further beyond the traditional bitcoin (CRYPTO: $BTC ) mining model and deeper into the energy-control side of AI and high-performance computing. The site is expected to support more than 1 gigawatt of total potential power capacity across generation and load, with paths to long-term HPC leases, flexible compute operations, bitcoin mining and wholesale power generation. MARA said the deal would increase its owned and operated power capacity by about 65%.  

Long Ridge also gives MARA a campus with power, land, water and fiber access already in place, reducing some of the development risk that comes with greenfield data center projects. The company said its existing 200 MW of capacity at the site could help accelerate an initial AI and critical IT buildout, with construction expected to begin in the first half of 2027 and initial capacity targeted for service in mid-2028. 

MARA chairman and CEO Fred Thiel said power is becoming the scarce input in AI and described Long Ridge as a rare platform combining large-scale power, land, water, fuel supply and grid interconnection in one location. The company also expects the assets to add about $144 million of annualized adjusted EBITDA, based on Long Ridge’s second-half 2025 performance, at less than $15/MWh of all-in operating costs. 

For MARA, the acquisition is a clear attempt to turn bitcoin mining infrastructure into a broader compute and energy platform built for the next phase of demand.  

MARA Holdings Inc. (NASDAQ: MARA) stock is currently trading at $11.81 U.S. per share.