Rotating Data
Explore the map
Home/Deal Room/MARA agrees to buy Long Ridge in $1.5B AI power-campus deal

Power · Evidence brief

MARA agrees to buy Long Ridge in $1.5B AI power-campus deal

MARA Holdings + Long Ridge Energy & Power + FTAI Infrastructure

Primary sourcePress release only2026-04-30
Deal structurePower-generation and digital-infrastructure campus acquisition / AI and critical IT load development
GeographyHannibal, Ohio / PJM power and digital-infrastructure campus
Infrastructure layersPower + data centers + cloud capacity + financing
Disclosed scale$1.5B total transaction value including assumed debt for a 505 MW nameplate combined-cycle gas power plant, more than 1,600 acres in Hannibal, Ohio, and a digital-infrastructure campus with more than 1 GW of total potential power capacity and line of sight to up to 600 gross MW of AI and critical IT loads

Why it matters

The strategic read

Adds a concrete miner-to-AI infrastructure receipt where the scarce asset is not GPUs but dispatchable power, land, water, fiber and PJM interconnection position. MARA is buying an operating 505 MW gas plant plus a development campus, explicitly tying the asset to AI and critical IT tenants, HPC lease potential and a broader 2.2 GW power-enabled infrastructure strategy.

Source-supported terms

What was disclosed

  1. 01

    MARA announced on April 30, 2026 that it entered into a definitive agreement to acquire Long Ridge Energy & Power from FTAI Infrastructure.

  2. 02

    MARA disclosed a total transaction value of approximately $1.5B, inclusive of assumed debt.

  3. 03

    The Long Ridge asset includes a 505 MW nameplate combined-cycle natural gas power plant in Hannibal, Ohio.

  4. 04

    The acquisition also includes more than 1,600 acres in a digital-infrastructure campus with existing access to power, land, water and fiber.

  5. 05

    MARA said the campus supports more than 1 GW of total potential power capacity across generation and load.

  6. 06

    The company said the site has line of sight to up to 600 gross MW of AI and critical IT loads.

  7. 07

    MARA expects the asset to support long-term HPC leases, flexible compute including digital-asset mining, and wholesale power generation.

  8. 08

    The release says there are multiple potential investment-grade AI and critical IT tenants in the inbound pipeline.

  9. 09

    MARA expects initial AI and critical IT construction to start in the first half of 2027, with infrastructure ready by mid-2028.

  10. 10

    The transaction is expected to close in the second half of 2026, subject to Hart-Scott-Rodino and Federal Energy Regulatory Commission review and customary closing conditions.

  11. 11

    MARA said the acquisition would expand its operational and development capacity to approximately 2.2 GW across PJM, ERCOT, SPP and international markets.

Disclosure boundary

What is known—and what is not

Primary company release announcing a definitive acquisition agreement. Public materials disclose seller, target asset, approximate transaction value, assumed-debt inclusion, 505 MW generation scale, land footprint, >1 GW potential campus power capacity, up-to-600 MW AI / critical IT load target, preliminary tenant pipeline language, expected construction and readiness timing, and regulatory closing conditions. Public materials do not disclose the full purchase agreement, debt structure, tenant identities, signed HPC leases, power-tolling or offtake terms, gas-supply contracts, FERC / HSR outcomes, final interconnection studies, site-by-site capex, construction / EPC awards, data-center design, cooling system, emissions permit status or whether the transaction will close on the stated schedule.