Mara Holdings, a major bitcoin mining company, will buy Long Ridge Energy & Power from FTAI Infrastructure for $1.5 billion.
According to a recent report by The Block, Mara will assume more than $785 million of existing debt and pay the rest in cash. The remaining amount is backed by a Barclays bridge loan. Mara expected the acquisition to add about $144 million in annual adjusted EBITDA, based on performance in the second half of 2025.
Mara plans to develop the site into an integrated digital infrastructure campus with capacity of more than 1 gigawatt. It will combine power generation, land, water resources and fibre connectivity in one location. CEO Fred Thiel (프레드 티엘) called it a "high-efficiency, contract-based energy platform" that brings together large-scale power, fuel supply and grid connections in one place, and said it had already received lease inquiries from several AI and IT companies.
Mara's business diversification accelerated in March after it overhauled its financial policy. Previously, it could sell only newly mined bitcoin, but the policy change also allowed it to sell bitcoin it holds.
Chi-gyu Hwang
delight@d-today.co.kr