Marathon Digital Holdings Inc. (MARA) Acquires Long Ridge Energy & Power in a $1.5 B Deal
Marathon Digital Holdings Inc. (NASDAQ: MARA), a publicly traded digital‑asset technology company specializing in cryptocurrency mining, announced on 30 April 2026 that it will purchase Long Ridge Energy & Power LLC, a gas‑powered plant operator based in Hannibal, Ohio. The transaction is valued at approximately $1.5 billion, inclusive of roughly $785 million in assumed debt, and represents a strategic pivot toward owning power assets that can support the company’s planned expansion into artificial‑intelligence (AI) data center infrastructure.
Deal Highlights
| Item | Detail |
|---|---|
| Purchase price | $1.5 billion |
| Assumed debt | $785 million |
| Asset type | 505 MW natural‑gas power plant |
| Land acquired | ~1,600 acres in Ohio |
| Capacity addition | Approximately 1 GW of AI‑ready power |
| Strategic intent | Convert the Ohio site into a 1 GW AI‑ready campus |
The acquisition was announced by the company through multiple press releases and coverage outlets, including gagarin.news, techmeme.com, theblock.co, blockonomi.com, coincentral.com, currencycrypt.net, investing.com, tipranks.com, and globenewswire.com. Reports consistently noted that the deal would bolster MARA’s power generation capabilities and provide a foundation for AI‑centric data center development.
Market Reaction
Following the announcement, MARA’s share price increased by approximately 3.5 % in pre‑market trading, reflecting investor optimism about the company’s diversification into AI infrastructure. The move was described by analysts as a significant step beyond traditional cryptocurrency mining toward owning the power and data center assets that support large‑scale AI workloads.
Company Context
- Industry: Information Technology – IT Services
- Primary Exchange: Nasdaq (USD)
- Market Capitalization: $4.19 billion
- Stock Performance (as of 28 April 2026): Close price $10.72, 52‑week high $23.45 (14 Oct 2025), 52‑week low $6.66 (4 Feb 2026)
- Price‑to‑Earnings Ratio: –2.94 (negative, indicating a loss per share)
Marathon Digital Holdings, Inc. has positioned itself as a key player in the blockchain ecosystem by focusing on the creation and mining of digital assets. The acquisition of Long Ridge Energy & Power aligns with the company’s stated objective of expanding its digital infrastructure strategy and optimizing power utilization for both cryptocurrency mining and AI workloads.
Strategic Implications
Vertical Integration Owning a dedicated power plant reduces exposure to external energy market volatility and provides a controllable power source for the company’s mining and upcoming AI operations.
AI Data Center Development The 1 GW capacity will enable Marathon Digital to construct an AI‑ready campus, potentially attracting additional workloads and revenue streams beyond cryptocurrency mining.
Geographic Diversification The Ohio location diversifies Marathon Digital’s operational footprint, mitigating concentration risk associated with its current mining sites.
Conclusion
Marathon Digital Holdings Inc.’s acquisition of Long Ridge Energy & Power represents a decisive shift toward owning critical power assets and establishing a platform for AI‑focused data center operations. The deal, totaling $1.5 billion and including $785 million in debt, is expected to strengthen the company’s competitive position within the digital‑asset and AI technology sectors, while providing a stable power foundation for its future expansion plans.
