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The U.S. Federal Energy Regulatory Commission (FERC) has approved Bitcoin mining company MARA's acquisition of the Long Ridge natural gas power plant for approximately $1.512 billion. The transaction values the enterprise at approximately $1.512 billion, representing approximately 0.5 GW of generating capacity and approximately $144 million in annualized adjusted EBITDA. MARA will retain approximately $900 million in debt from Long Ridge and will require approximately $610 million in cash, to be covered by approximately $600 million in Bitcoin-collateralized loans drawn down in August. The external closing date for the transaction is November 30. The power plant itself is valued at approximately $1 billion, and the premium paid by MARA corresponds to land, gas wells, railroads, and expansion options.