BTIG views Mara Holdings’ (MARA) acquisition of the Long Ridge Power Plant in Ohio as “transformational.” While Long Ridge’s power is currently tied up in agreements on the PJM grid, Mara’s existing 200MW of capacity at Hannibal allows for an initial high performance commute buildout to begin in the first half of 2027 with energization in 2028, the analyst tells investors in a research note. BTIG believes the company is positioned well for a multi-year HPC ramp at the site. Mara shares are up 6% to $11.39 in early trading.
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