MARA Holdings Acquires Long Ridge to Expand AI Power

MARA Holdings ( (MARA) ) just unveiled an announcement.

On April 29, 2026, MARA USA Corporation, a subsidiary of MARA Holdings, agreed to acquire Long Ridge Energy & Power LLC from Ohio River Partners entities and FTAI Infrastructure for about $1.5 billion, including assumed debt, with closing targeted for the second half of 2026 subject to regulatory and customary conditions. The deal will add a highly efficient combined‑cycle gas turbine plant in Hannibal, Ohio, over 1,600 acres of industrially permitted land, rail infrastructure, and an integrated digital infrastructure campus that is expected to boost MARA’s owned and operated power capacity by roughly 65%, contribute about $144 million of annualized adjusted EBITDA at sub‑$15/MWh operating costs, and underpin a flagship AI and high‑performance computing campus with potential for up to 600 MW of future AI and critical IT loads alongside continued wholesale power generation into the PJM grid.

To finance the transaction, MARA secured a commitment from Barclays for a senior secured bridge loan facility of up to $785 million and obtained seller cooperation on debt financing, necessary contract consents, and noteholder offers or waivers tied to Long Ridge’s 8.750% senior secured notes due 2032. MARA plans to retain Long Ridge’s operating team, maintain the plant’s existing power supply to the PJM grid without anticipated consumer impact, and leverage the site’s low‑cost, contracted energy platform and vertically integrated fuel supply to support stable cash flows, broaden its digital energy infrastructure pipeline to around 2.2 GW, and enhance its positioning in the increasingly competitive market for large‑scale AI and high‑performance compute capacity.

The most recent analyst rating on (MARA) stock is a Sell with a $8.50 price target. To see the full list of analyst forecasts on MARA Holdings stock, see the MARA Stock Forecast page.

Spark’s Take on MARA Stock

According to Spark, TipRanks’ AI Analyst, MARA is a Neutral.

The score is held down primarily by weak financial performance—especially persistent negative cash generation and highly volatile profitability—along with limited valuation support from a negative P/E and no dividend. Offsetting these are improving technical momentum and a moderately constructive earnings outlook tied to the AI/HPC pivot and balance-sheet deleveraging actions, though near-term results remain highly sensitive to Bitcoin price and mining economics.

To see Spark’s full report on MARA stock, click here.

More about MARA Holdings

MARA Holdings, Inc. (NASDAQ: MARA) is an energy and compute infrastructure company that deploys digital energy technologies to transform excess energy into digital capital, balance the grid, and accelerate critical infrastructure deployment. The company develops solutions to lower the energy intensity of high‑performance computing applications, spanning AI, edge computing, and flexible operations such as Bitcoin mining across markets including PJM, ERCOT, SPP, and select international regions.

Average Trading Volume: 48,349,358

Technical Sentiment Signal: Sell

Current Market Cap: $4.08B

For detailed information about MARA stock, go to TipRanks’ Stock Analysis page.