MARA Holdings receives FERC approval for $1.5 billion Long Ridge acquisition
MARA Holdings announced that the Federal Energy Regulatory Commission approved its planned purchase of Long Ridge Energy & Power. The transaction, valued at approximately $1.5 billion, adds a 505‑megawatt combined‑cycle natural‑gas plant and more than 1,600 acres in Ohio. MARA expects the deal to close in the coming weeks, targeting a final close by 30 November 2026. The acquisition is projected to lift MARA’s owned power‑generation capacity by more than 300% and generate about $144 million of annualized adjusted EBITDA.
Why it matters
MARA says the acquisition will increase its owned capacity by over 300%, strengthening its power‑generation profile for AI and high‑performance computing projects. The stock fell 14% on the news, indicating market concern despite the regulatory win.
Key facts
- 1FERC issued its order on 4 November 2026 authorizing the transaction. securities.io
- 2The deal value is approximately $1.5 billion, including about $785 million of debt. securities.io
- 3The acquisition includes a 505‑megawatt nameplate combined‑cycle natural‑gas plant. stocktitan.net
- 4Long Ridge comprises more than 1,600 contiguous acres with power, water, fiber and rail access. stocktitan.net
- 5MARA estimates annualized adjusted EBITDA of approximately $144 million for Long Ridge. securities.io
- 6MARA expects owned power‑generation capacity to increase by more than 300% at closing. securities.io
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.