Long Ridge Energy and Power Acquired by MARA Holdings | Energy M&A Deal

MARA Holdings has completed the acquisition of Long Ridge Energy and Power, an oilfield services business in Ohio, for $1.5 billion. MARA Holdings acquisitions bring a 505 MW combined-cycle gas power plant in Hannibal, Ohio, plus more than 1,600 contiguous acres for an integrated digital infrastructure campus. The Long Ridge Energy and Power acquisition provides immediate access to power, land, water, and fiber, supporting data center and AI load growth across major grid regions. This platform acquisition expands MARA’s owned-and-operated power capacity by about 65% to roughly 2.2 GW across PJM, ERCOT, and SPP, with annualized adjusted EBITDA of about $144 million and operating costs under $15 per MWh. The public company acquisition is expected to close in the second half of 2026, subject to Hart-Scott-Rodino and Federal Energy Regulatory Commission approvals, with rail logistics included and the existing team retained.