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MARA to Acquire Natural Gas Plant Operator Long Ridge for $1.5 Billion

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Reuters reported on April 30 that MARA Holdings (MARA.O) has agreed to acquire Long Ridge Energy & Power from FTAI Infrastructure for $1.5 billion, including debt. The move marks a key step for the Bitcoin mining firm to transition into a digital infrastructure and energy company. In recent years, MARA—one of the largest Bitcoin mining and holding companies—has shifted its focus to digital infrastructure and the energy production powering it, driven by growing demand for AI and technological advancements. While its past cryptocurrency operations don’t conflict with the new strategy, MARA is increasingly leaning toward directly owning energy assets to secure ample power for data center development. Long Ridge owns a 505-megawatt combined-cycle natural gas power plant and more than 1,600 contiguous acres of land. MARA plans to build data centers on the site, powered by the plant.
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