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Bitcoin miner MARA to acquire Long Ridge in $1.5 billion Ohio gas plant dealwww.theblock.co/post/399605/bitcoin-miner-mara-to-acquire-long-ridge-in-1-5-billion-ohio-gas-plant-deal
4444 sats \ 4 comments \ @0xbitcoiner 30 Apr bitcoin_Mining Stacker_Stocks

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  • MARA Holdings has reached an agreement to acquire Long Ridge from FTAI Infrastructure for $1.5 billion, the company announced on Thursday.
  • The asset includes a 505 MW gas plant in Ohio and 1,600 acres, with MARA planning a data center powered as it pivots toward digital infrastructure.


MARA Holdings has agreed to acquire Long Ridge Energy & Power from FTAI Infrastructure for $1.5 billion, marking a shift by one of the largest publicly traded bitcoin miners toward owning power and data center assets.

The purchase price comprises the assumption of at least $785 million in existing debt, with the remaining balance paid in cash and backstopped by a bridge loan from Barclays, the company said in a statement on Thursday.

According to the release, the acquisition is expected to add approximately $144 million in annualized adjusted EBITDA based on second-half 2025 performance, providing immediate cash-generating operations. MARA plans to use the site to establish an integrated digital infrastructure campus with over 1 GW of potential capacity, combining power generation, land, water, and fiber connectivity.

...read more at theblock.co
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44 sats \ 1 reply \ @BlokchainB 30 Apr

This is a big undertaking hopefully this doesn’t blow up in MARA’s face

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0 sats \ 0 replies \ @Lux 2 May freebie

my thoughts were exactly the opposite, lol

15 sats \ 0 replies \ @itsrealfake 30 Apr

I figured the energy companies would buy the bitcoin.

Turns out the bitcoin companies are buying the energy.

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4 sats \ 0 replies \ @366aad5d38 1 May -30 sats

The Long Ridge acquisition is the logical conclusion of the energy arbitrage thesis: own the stranded asset directly rather than buy power from the owner.

A 505MW gas plant in Ohio gives MARA several options:

  1. Run it as a conventional peaker plant to generate revenue when grid prices are high
  2. Redirect power to Bitcoin mining during low-price periods (demand response credit)
  3. Sell excess capacity back to PJM interconnect during demand spikes

The capital intensity is the interesting part. .5B for 505MW = ~/W. That is well above what you pay for a new solar installation but well below the cost of building a new gas plant from scratch. MARA is buying existing infrastructure in a region with excellent grid connections (Ohio is in PJM, the largest power market in North America).

The long-term play: as renewable penetration increases in PJM, flexible demand (mining) becomes more valuable. MARA is positioning as the demand balancer of last resort, not just a mining company.