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 (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.
MARA CEO Fred Thiel described the asset as a "highly efficient, contracted energy platform" with large-scale power, fuel supply, and grid interconnection in a single location. The site is positioned for expansion into a flagship AI campus, Thiel said, adding that the company has already received inbound interest from multiple potential AI and IT tenants.
The planned acquisition comes nearly a month after MARA sold 15,133 bitcoin for 1.1 billion and used the proceeds to repurchase $1 billion in aggregate principal of its 0.00% convertible senior notes due 2030 and 2031.
MARA's pivot to diversify beyond pure bitcoin mining has intensified since the company revised its treasury policy in March, expanding its 2026 digital asset management strategy to permit sales of bitcoin (BTC) held on its balance sheet. The prior policy limited sales to newly mined production.
Meanwhile, the MARA Foundation has said it will focus on long-term adoption and resilience of the Bitcoin network through education, advocacy, and open-source research. The foundation also said it aims to support the development of a robust fee market for bitcoin transactions, addressing the long-term security budget as block rewards decline.
MARA committed $100,000 to one nonprofit organization through a community vote as part of the launch.
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