Mergers & AcquisitionsMedium•5 November 2026•
1 min read
FERC Approves MARA's $1.51B Acquisition of Long Ridge Gas Plant
Key Facts
1The U.S. Federal Energy Regulatory Commission approved MARA's acquisition of the Long Ridge natural gas power generation assets.
2The transaction is valued at approximately $1.512 billion and includes about 0.5 GW of generation capacity.
3MARA will utilize a $600 million bitcoin-backed loan to cover the cash requirements of the deal.
The U.S. Federal Energy Regulatory Commission (FERC) approved MARA's acquisition of the Long Ridge natural gas power generation assets. KuCoin reported that the transaction is valued at approximately $1.512 billion and includes roughly 0.5 GW of generation capacity.
MARA will utilize a $600 million bitcoin-backed loan to cover the cash requirements of the deal while assuming approximately $900 million in existing debt. The acquisition aims to secure energy capacity for the company's operations, with the transaction's external closing date set for November 30, 2026.