MARA Holdings to Acquire Long Ridge Energy & Power for $1.5 Billion

Paul, Weiss is advising MARA Holdings, Inc., a leading energy and compute infrastructure company, on its acquisition of Long Ridge Energy & Power LLC from FTAI Infrastructure Inc. for a total value of approximately $1.5 billion, including the assumption of certain debt. The transaction is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approvals.

The acquisition includes Long Ridge Energy’s highly efficient 505-megawatt combined-cycle gas power plant in Hannibal, Ohio, and over 1,600 contiguous acres supporting an integrated digital infrastructure campus in one of the most active data center and power markets in the world. The acquired campus supports more than 1 gigawatt of total potential power capacity.

The Paul, Weiss team includes corporate partners Ravi Purohit, Matthew Benedetto, Eric Wedel, Matthew Leist, Luke Jennings, Kelann Stirling, Manuel Frey, Jia Ying, John Kennedy, Caroline Epstein, Jamie Franklin and Steven Kaye; real estate partners Harris Freidus and Matthew Dulak and counsel Ruobing Chen; tax partner Brian Krause; executive compensation partner Rebecca Coccaro and counsel Jake Glazeski; intellectual property partners Jonathan Ashtor and Brianna van Kan and counsel Matthew Rosenberg; environmental partner Stefanie Gitler; litigation partner Nicole Succar and counsel Audrey Paquet; and antitrust counsel John Magruder.