Summary
- MARA Holdings said it signed a $1.5 billion acquisition deal for Long Ridge Energy & Power in the U.S. to expand its AI infrastructure.
- MARA Holdings said the site could support a range of businesses, including leasing for AI and high-performance computing (HPC), Bitcoin mining, and wholesale power sales.
- Chief Executive Officer Fred Thiel said the acquisition is an important step in carrying out the company’s digital infrastructure strategy and could also be used to build an AI campus.
MARA Holdings, a U.S. Bitcoin miner, has agreed to acquire a large gas-fired power plant as it expands into artificial intelligence infrastructure.
The company said April 30 it signed a deal with FTAI Infrastructure to buy Long Ridge Energy & Power for $1.5 billion. The acquisition includes Long Ridge’s 505-megawatt combined-cycle power plant in Ohio and more than 1,600 acres of plant property.
MARA plans to build AI infrastructure, including data centers, at the site. The company said the property could support a range of businesses, including leasing capacity for AI and high-performance computing, Bitcoin mining and wholesale electricity sales.
Chief Executive Officer Fred Thiel called the acquisition an important step in carrying out MARA’s digital infrastructure strategy. He said the site is an efficient energy platform that combines large-scale power generation, land, access to water, fuel supply and grid connectivity in one location. It could also host an AI campus, he added.
The deal is set to close in the second half of this year, subject to regulatory approvals and other conditions. MARA also plans to acquire rail infrastructure that supports on-site logistics and operations at the plant.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
