MARA says it has agreed to buy Long Ridge Energy & Power in a transaction worth about $1.5 billion, giving the bitcoin miner and energy infrastructure company a larger foothold in the race to secure power for AI data centers.

What MARA is buying

According to MARA's April 30 announcement, the deal includes Long Ridge's combined-cycle gas plant in Hannibal, Ohio, more than 1,600 acres of adjacent land, plus water, fiber, fuel supply, rail access, and grid interconnection. MARA said the campus has more than 1 gigawatt of total potential capacity across generation and load.

The seller, FTAI Infrastructure, described the same transaction at about $1.52 billion before closing adjustments. The conservative verified version is that MARA is buying a site with a 505 MW nameplate plant, while FTAI describes the currently operating asset as 485 MW and MARA notes authorization to sell the full 505 MW is expected later in 2026.

Why it matters

MARA said the acquisition would increase its owned-and-operated power capacity by about 65% and help it start an initial AI and critical IT buildout in the first half of 2027, with initial service targeted for mid-2028. The company also said it does not expect to reduce Long Ridge's current power supply into the PJM grid.

That makes this more than another mining expansion headline. The real signal is that a major bitcoin miner is trying to turn power ownership, land control, and grid access into a direct AI infrastructure business.