Mara Holdings Acquires Long Ridge Energy Facility, Pivoting Towards AI Infrastructure

Mara Holdings, a leading player in the cryptocurrency mining industry, has made a significant move by acquiring the Long Ridge Energy & Power facility in Ohio for $1.5 billion. This landmark deal marks a strategic shift towards developing artificial intelligence infrastructure and expanding the company's energy capacity.

The acquisition of the 505 MW combined-cycle natural gas generating station in Hannibal, Ohio, will boost Marathon's controlled energy capacity by approximately 65%. The property also includes over 1,600 acres of contiguous land suitable for data center development, providing ample opportunities for future expansion.

By acquiring existing infrastructure, Marathon believes it can achieve better economics than building from scratch. The company expects to generate around $144 million in annual adjusted EBITDA and maintain operating expenses under $15 per megawatt-hour. This cost efficiency will create competitive advantages for energy-intensive computational applications.