MARA Holdings is acquiring Long Ridge Energy — an Ohio-based natural gas power plant — from FTAI Infrastructure for approximately $1.52 billion. The deal marks a significant strategic expansion for MARA beyond its Bitcoin mining roots into AI data center infrastructure. Long Ridge provides on-site power generation, a critical and increasingly scarce resource for energy-hungry compute operations.
This acquisition signals that major crypto miners are pivoting toward AI and high-performance computing infrastructure, competing directly with data center REITs and cloud players for power assets. For MARA holders, this is a high-stakes bet — captive power generation could dramatically cut operating costs and open new revenue streams, but $1.52 billion is a large capital outlay that adds balance sheet risk. Investors in energy and data center plays should watch for similar consolidation pressure on power assets.
MARA next earnings call (watch for deal financing details and updated guidance). FTAI Infrastructure investor communications on use of $1.52B proceeds. Any regulatory filings with FERC (Federal Energy Regulatory Commission) approving the power asset transfer.
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