Add as a preferred source on GoogleFERC Approves MARA’s Long Ridge Deal, Adding 505 MW of Power
The purchase includes more than 1,600 acres and is expected to close within weeks, increasing MARA’s owned generation capacity by more than 300%.
The Federal Energy Regulatory Commission (FERC) approved MARA Holdings’ acquisition of Long Ridge Energy & Power, a deal that adds a 505-megawatt power plant to the Bitcoin (BTC) miner’s energy assets and supports its expansion into digital infrastructure.
The facility is a combined-cycle natural gas plant with 505 MW of nameplate capacity. FERC found the transaction to be in the public interest. The purchase also includes more than 1,600 acres of land. MARA’s owned power-generation capacity is expected to rise by more than 300% once the acquisition closes.
MARA is expanding into artificial intelligence and high-performance computing infrastructure, and the additional generation and land are intended to support that effort. The transaction would broaden MARA’s business beyond Bitcoin mining and is expected to strengthen its financial base.
The acquisition has received regulatory approval but has not closed. It is expected to be completed within weeks, at which point MARA would add the plant and land to its operations.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.