Marathon Digital Acquires Long Ridge Energy for $1.5B, Plans 1GW AI Campus

According to The Block, Marathon Digital Holdings (MARA) agreed to acquire Long Ridge Energy & Power from FTAI Infrastructure for $1.5 billion on Thursday (April 29). The deal comprises the assumption of at least $785 million in existing debt, with the remaining balance paid in cash and backstopped by a bridge loan from Barclays.

The acquisition is expected to add approximately $144 million in annualized adjusted EBITDA based on second-half 2025 performance. MARA plans to use the site to establish an integrated digital infrastructure campus with over 1 GW of potential capacity, combining power generation, land, water, and fiber connectivity. The company has already received inbound interest from multiple potential AI and IT tenants.