MARA to Invest $1.5 Billion in Energy Company Transformation

MARA Holdings to acquire Long Ridge Energy & Power for $1.5 billion.

Bitcoin miner MARA Holdings has entered into an agreement to purchase the Long Ridge Energy & Power gas power plant from FTAI Infrastructure for $1.5 billion.

MARA expands its AI infrastructure pipeline by entering into an agreement to acquire Long Ridge Energy & Power, which owns, among other assets, a highly efficient 505 MW nameplate CCGT power plant and over 1,600 contiguous acres in one of the world’s largest AI and data center… pic.twitter.com/YUF9WlfQzP

— MARA (@MARA) April 30, 2026

The deal includes Long Ridge’s debt of $785 million. The remainder will be covered by cash and a loan from Barclays Bank.

According to MARA, the asset is expected to generate approximately $144 million in annual adjusted EBITDA based on the second half of 2025 figures. The company plans to build an integrated digital infrastructure campus with a capacity of over 1 GW on the site.

MARA’s CEO Fred Thiel described Long Ridge as a “highly efficient contracted energy platform” that combines generation, fuel supply, grid connection, land, water, and fiber optics in one location.

He believes the site will become a flagship campus for AI, with the company already receiving inquiries from potential tenants in the artificial intelligence and IT sectors.

In February, MARA announced its shift towards data centers, reporting a $1.7 billion loss for the fourth quarter of 2025. MARA aims to transform from a pure bitcoin miner into an energy and digital infrastructure entity.

In late March, the firm sold 15,133 BTC for $1.1 billion to repurchase its own bonds.

On April 30, MARA’s shares closed up nearly 12% at around $12. Over the past six months, the company’s stock has risen by 54%.

MARA is the second-largest public miner by operational hash rate (61.7 EH/s), trailing only Bitdeer (69.5 EH/s). According to BitcoinMiningStock, the rate increased by 5.83% over the month.

In terms of bitcoin production, the company remains the industry leader. In April, the firm mined 736 BTC, a 4.39% increase for the month.

Riot’s First AI Revenue

Riot Platforms has for the first time separated its data centers into a distinct business segment. By the end of the first quarter, the division generated $33.2 million for the company.

The firm’s total profit for the reporting period was $167.2 million, with bitcoin mining contributing $111.9 million.

The shift to AI accounted for about 20% of Riot’s quarterly revenues. A key factor was a long-term agreement with AMD: the chip manufacturer exercised an option to expand and doubled its contracted capacity from 25 MW to 50 MW, with the potential to increase it to 200 MW.

Riot continues to expand its site in Rockdale, Texas, where AMD’s infrastructure is deployed.

The firm is also constructing a campus in Corsicana. According to management, it will be able to accommodate either a single large tenant or multiple clients in AI, data centers, and hyperscaling.

In the first quarter, Riot sold 3,778 BTC but retained 15,679 BTC on its balance sheet, valued at approximately $1.2 billion. This makes the company the seventh-largest public holder of bitcoin.

The company’s shares traded at $17.2 at the end of the latest trading session, gaining 7.8% for the day, according to Yahoo Finance.

In the first quarter, public miners sold a record 32,000 BTC—more than in all of 2025.