MARA Holdings has announced plans to acquire Long Ridge Energy & Power from FTAI Infrastructure for $1.5 billion, including debt. This acquisition marks a strategic shift for MARA, traditionally known as a major Bitcoin mining company, towards becoming a digital infrastructure and energy firm. The move is driven by the growing demand for AI and technological advancements, prompting MARA to secure energy assets to power future data centers.
Long Ridge Energy & Power owns a 505-megawatt combined-cycle natural gas power plant and over 1,600 acres of land. MARA intends to leverage these assets to develop a data center, ensuring a reliable power supply for its operations. This acquisition underscores MARA's commitment to expanding its capabilities in digital infrastructure and energy production.
MARA Holdings to Acquire Long Ridge Energy for $1.5 Billion
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