MARA Holdings Targets $1.5B AI Data Center Expansion With Long Ridge Acquisition

Power Infrastructure Deal Strengthens AI and IT Growth Strategy

MARA Holdings has agreed to acquire Long Ridge Energy & Power in a deal valued at approximately $1.5 billion, marking a major step in its push into AI and data center infrastructure. The transaction includes the assumption of at least $785 million in debt, supported by a bridge loan.

The acquisition brings a 505-megawatt combined-cycle gas plant in Ohio along with more than 1,600 acres of land, positioning the site for large scale development.

Over 1 Gigawatt Capacity Planned for Future Expansion

MARA said the Long Ridge facility could support over 1 gigawatt of total power capacity over time, providing critical infrastructure for AI and high performance computing operations. The deal is expected to increase the company’s owned and operated capacity by about 65% and expand its total pipeline to roughly 2.2 gigawatts across key energy markets.

Financial Impact and Timeline

The company expects the acquisition to contribute around $144 million in annualized adjusted EBITDA. Construction of initial AI and IT infrastructure is planned for early 2027, with first capacity targeted by mid-2028.

The transaction is expected to close in the second half of 2026, while maintaining existing power supply commitments to the grid.