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

MARA Holdings has completed the acquisition of Long Ridge Energy & Power, a utility services business in Ohio, for approximately $1.5 billion. MARA Holdings acquires Long Ridge Energy & Power LLC, which operates a 505 MW nameplate combined-cycle gas power plant in Hannibal, Ohio, and supports an integrated digital infrastructure campus on more than 1,600 contiguous acres. The utility services acquisition provides power, land, water, and fiber access to support over 1 GW of total potential capacity for AI and critical IT loads, including flexible compute operations such as Bitcoin mining and long-term HPC leases. The strategic acquisition is part of MARA Holdings acquisitions focused on energy M&A and energy deals OH, with the buyer acting as a strategic acquirer and expecting to add contracted generation and expansion optionality.